Shattered Fate is set in the same universe as Voyager of Time, and is, in fact, a "midquel" to the game. This will be set in the seven years that Link is asleep in the Sacred Realm, about two years after he first pulled the Master Sword from the pedestal. Because of this, you will be playing a completely new character.
Technical Side of Things
SF was originally set to be another OOT mod, however, ideas kept growing to the point where making a mod would be much too complicated to complete in the engine. There were just too many complicated things that were above my skill level, or something the game just couldn't do.
Because of this, SF was on hold until I could figure out another engine to use.
As of 5/25/2015, I've decided to go with Unity3D engine, and I've started learning how to use the program and am going through the starting of beginner's programming with a friend.
By building assets from the ground up in a modern game engine, what my team and I will be doing is offering an experience that will flip Zelda game making on it's head.
What our plans are is to completely make Shattered Fate in Unity, importing models when we can from the N64 game, with a few updated areas. In the meantime, we will be doing what we can to import items from OOT for another purpose--for you guys. Making a fan Zelda game has never been an easy task for people--modding is nearly impossible with all the various tools and programs you use, and then you aren't even guaranteed a game that will work well for you. Voyager is riddled with problems because of the sheer difficulty in shifting through OOT code.
My vision is to offer an asset folder that will include what you need to make your own Zelda game--models, animations, scripts, and textures. All you would have to do is build it in Unity--which is a free program for personal use!
I'm very excited about this journey to offer the Zelda community something they've been wanting--a user-friendly game-making experience.
I hope you continue to follow Shattered Fate and spread the word, you guys are why I do this.