Escape Velocity is an open-ended, role-playing arcade game set in a future where interstellar space travel has allowed mankind to expand its reach to countless unique solar-systems. The game is presented from a top-down, slightly isometric-view in which players control a pilot of one of the many space vessels the game has to offer. Traveling between the various different star-systems in the game is done through hyperspace travel, whereas sub-space travel is used for manual maneuvers, such as landing/docking and space combat.

At the beginning of the game, the player takes control of a single shuttle along with a few credits at their disposal and may proceed in whichever direction they would like. The main gameplay attraction comes from exploring and learning more about the universe in whichEV takes place and, if the player so desires, engaging in space combat; either by siding with one of the different factions which are in conflict with each other or by simply staying neutral throughout the game and working for one's self.

By landing on the different planets available in most systems, the player can find work through shipping or trading, upgrade or buy new ships, and obtain story-based missions.

The main plot in EV revolves around a dispute between two rival groups, the "Confederation" and the "Rebellion". Depending on the player's actions throughout the game, the two factions may or may not be affected at all. It is completely up to the player as to whether or not to assist either of them.

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