The team is preparing for the beta test, and made an announcement with all the details that you need to know if you are interested. The beta will begin on July 28th, and if you have an Alpha 2 character, those will have been wiped, so you'll have to create a new character. Kickstarter backers and previous backers should have already received beta keys, along with those who bought access after Alpha 2. The team will be giving a chance to grab some keys through the official discord, social media, and through some partner streamers.
Since this is the first beta test, and will be followed up by a second beta test not long after, we should expect there to be bugs. Which is one of the reasons player testing is needed. Team Studio 21 says that the system behind Ilysia is “the first fully server-authoritative MMORPG back-end for VR” so this is another reason why they’re expecting–and hoping to gather data to iron out–some bugginess. They're also expecting that there will be different bugs from Alpha 2 since they are adding new systems and testing more stuff.
The team included a brief beta trailer giving us a look at what Ilysia looks like at this time. Some of what we can expect in Beta 1 will be additional features that have been added since Alpha 2 ended. These are some core MMORPG features, including a party system, class structure and skills, instanced dungeons, and improvements to combat AI. Is there a foundation, so we can expect a lot more to be added in future builds, which will include more classes and skills and broadened features.