Arrowhead Game Studios has announced that its upcoming dungeon-crawler, Magicka, will be released for PC in January 2011. Magicka is a Diablo-like co-op game in which 1-4 players become wizards and sling spells about to defeat monsters. The game appears to feature a lighthearted approach to the genre, as seen in this trailer:

As there are no resource limitations (like mana) for spellcasting, the main challenge of the game involves stringing together 12 different elements in order to create the proper spells for the situation. In this GameTrailers video, Arrowhead Studios CFO Robin Cederholm explains the element system:

Once Magicka is complete, it will be available for $9.99 from the official website, and likely also via digital download services. The game is currently PC exclusive, but may later come out on consoles as well.

See our screenshot gallery for more images from Magicka.