After initially publishing this video with no description, Pablo Belmonte has responded to enquiries of what this project is with some 'legal terms', suggesting this project is 'interactive' but not a remake. The final form it'll take is unclear, though the aim is apparently to present the finished product to Nintendo.
All the creative content of this project has been inspired in “The legend of Zelda: Majora’s Mask”, whose license is owned by Nintendo.
None of the materials of the original game have been employed either for the development or the finishing of this project. This interactive project is intended to be neither a commercial product or a remake of the game.
None of the material published about this project brings any benefit to its creators.
This work has been created by fans for fans, but its ultimate purpose is to be presented to Nintendo Co. (They will be the owners of the commercial-economic decisions.)
It's well known that a remake of The Legend of Zelda: Majora's Mask is in high demand among dedicated Nintendo fans, with a 3DS remake touted as the most likely option. Nintendo, for its part, has teased, cajoled, hinted and then ultimately stayed quiet, leaving some convinced that it'll never happen and others equally sure that it's simply a matter of time.
Back in 2012, mischievously around E3 time, artists Pablo Belmonte and Paco Martínez released a trailer for a Majora's Mask 'project', recreating a scene in HD. It wasn't particularly clear what this project would be, and it went completely silent for around two years.
During this year's E3, however, the duo posted a video of their attempts to sit a large Majora's Mask-themed model next to the amiibo display, though a Nintendo rep rapidly stopped them. So far, so pointless, but a fresh video today shows the aforementioned project's progress. There are shots of the previous HD scene rendering in 3D — the tell-tale Oculus Rift-style double view — and then a host of concept art drawings and 3D models in various states of progress. There's then a shot of a scene on a 3DS, though the footage is blurry — whether it's a rendered scene 'running' on the system (unlikely) or simply a 3D image that has been loaded onto an SD card (displaying in the camera app) can be debated, but the fuzzy camera work and limitations of the scene shown strongly suggest the latter. It's a tease, for sure.
It's not clear what kind of 'project' this really is, and whether the duo can actually produce a remake. We'd also suggest that its shutdown is inevitable — the artists couldn't even get a model next to the amiibo stand at E3, so successfully releasing a project like this would face exceptional difficulty and a likely cease and desist order. This is no hack of an existing game, but seems like work on a remake of copyrighted material.
We doubt this'll come to anything, but as fan projects go it's one of the most enigmatic and intriguing out there. You can check out the latest video below.