The Freedom Engine is an Ultra-Realistic game engine which runs along the ranks of Unreal Engine 3 & CryEngine 3, except its open-source (meaning you can add plugins, renderers, models, etc.) and you can sell games for free or for profit. In order to sell games for profit, you need a $99 license whereas 25% royalties go to the creator of the engine.
The renderer wil be called, Glory. I say this because Unreal has the Gemini Renderer.
I make $600 a month (Which is a low budget for a project like this), but I will pay little by little to get the job done.
Tell me what is your thoughts,
Update: Ok maybe not as good as Unreal or CryEngine, but at least it will be a good game engine.
I have change my mind. I would like to use YafaRay as the rendering engine.
I would just like some of the awesome tools that unreal & cryengine possess. for example, Crowd generator, Water dynamics, node editor, breakable objects, etc.