Mistborn is set in a dark world of ash, mist, and gothic fantasy creatures, dominated by a seemingly immortal villain known as the Lord Ruler. It also follows individuals who use a powerful rule-based magic system known as Allomancy that allows them to temporarily enhance their physical and mental abilities by ingesting and 'burning' flakes of metal. Those who have the ability to burn a single metal are called Mistings, and those who can burn all metals are known as Mistborn.

The upcoming RPG video game will feature an original storyline created by Sanderson, set several hundreds of years before the first Mistborn novel, and will focus on a unique combat system that puts Allomancy into the hands of gamers. Players will suit up as Fendin 'Fiddle' Fathvell, an arrogant young nobleman who must quickly master his newfound Allomantic abilities before forces at work can destroy his entire family.