Update: This post originally claimed Capcom debuted Deep Down’s trailer at E3. I apologize for the error.¬†

When the PlayStation 4 console launches next month, you can go ahead and buy Madden or Call of Duty, but we’re really all just biding our time until we can get our hands on new properties and fresh experiences.

Publisher Capcom is promising that kind of new franchise with its PS4-exclusive role-playing game Deep Down, and it just revealed some direct-feed gameplay footage of the dungeon crawler in a pair of videos. While they look good, these clips reveal something that doesn’t quite live up to the original reveal trailer.

The first video demonstrates the basic movement and combat. Players control an armor-covered knight that can plod along corridors and take out enemies using melee weapons and magic.

The video also does a good job of highlighting the visuals. Deep Down stunned gamers with its debut trailer at the PlayStation 4 reveal event in February, and it still looks nice in action. The lighting and particle effects are especially impressive.

Check it all out in the video below:

The other video shows off the multiplayer. A pair of players fight each other before heading down some tight hallways and coming across an ongoing fight between two other players and a dragon. The four adventurers work together to poke and slash at the beast.

A highlight comes when one of the players freezes time — including the dragon and the other three adventurers– and sets up a variety of attacks that remain in stasis until he unfreezes time. Then all of the attacks become unstuck simultaneously and cause massive damage to the dragon. It’s a very neat moment and looks really cool possibly due to the PS4’s extra power.

Watch it here:

As good as Deep Down looks in these videos, it doesn’t quite measure up to the first trailer. For reference, here’s that video:

Deep Down is due out some time in 2014 for PS4. Capcom plans to release it as a free-to-play title, but it hasn’t really explained how it will generate revenue. It is likely that players will have the opportunity to purchase items and boosts for their characters.