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Now, there are two projects SBEmulator and Magicbane.
Magicbane, despite being more recent, has reached the open beta stage, while SBEmulator is currently in closed beta, but admits players "exceptionally" since last day 21 (which was when Magicbane was reset to start the open beta.)
For those who don't know what it's about... it's complicated. Imagine the typical medieval 3D game of killing bugs, and add a system of brotherhoods and nations, where each brotherhood can build (literally) cities in the different regions of the map (the real map, nothing of submaps in X dimensions), which can be attacked in real time in siege campaigns by other brotherhoods/nations.
Edit: To not revive the thread, just point out that you forget about Shadowbaneemulator, or SBE, and sign up for Magicbane. The SBE project, as an emulator of the original game, has ceased to exist.