The free PC-based fan game has been in development for the last two and a half years and is the work of a single person, AlyssonDaPaz, and reimagines the 2004 action platformer in the style of the classic Super Nintendo trilogy. This means transforming its 3D stages into a series of sidescrolling levels, complete with pixel art graphics.
It was built with tools like Aseprite, Audacity, Tiled, and Godot Engine, and is completely playable from start to finish, but, as is worth noting, only features one of the original game's playable characters: X. So don't expect Axl, Zero, or the Navigators.
AlyssonDaPaz has always made efforts in the past to try and make it clear that the finished fangame wouldn't include these characters, to not lead people with promises they never intended to fulfill, but they have since claimed that they might consider adding them in a few years down the line, now that the project is finally finished.
If you want to download the fan game to give it a try, you can grab it here.