One of the closed beta testers has posted an interesting look at monster breeding in Ascent: Infinite Realm. According to this poster, players should be able to "grow / develop / tailor monsters for mounts and possibly for pets". Quest rewards and monster drops can include "pieces of a monster's memory". Cobbling them together can result in a "particular creature".
During my time in CBT-2, I only came across one other monster, the components (memories) all dropped from a Harpy mob. Note this monster is tier-2 so requires the “animal-pen” to be upgraded to level-2. As seen in the pictures below only memories from the same monster can be put together. Where this mob undergoes a remarked change as the memories are added.
You can check out a plethora of screenshots on the Ascent: Infinite Realm forum.
You can also check out this forum thread.
