Does anyone know if something like this has been done? The concept I'm talking is essentially a fighting + rpg hybrid in that you design your own character and spec them in various ways as you level up (different fighting styles? different martial arts? schools of magic? superpowers? take your pick), and then play off against other characters of similar levels in the manner usual to fighting games like mortal kombat or injustice. It would be massively multiplayer in that you could participate in various tournaments on a constant basis against other players/ai, levelling up till you reach the cap, at which point the game becomes about trying to rise to the top of the fighting world by winning as many tournaments as you can. A pretty large amount of content could be imagined - contests with different rules, contests where you're only allowed to use moves from one fighting style, and obviously player created content given the multiplayer nature of the game.
Honestly, just describing it it's far beyond my reach in terms of actually developing it, but i cant help but be intrigued as to whether it's actually a new idea in any way, or whether im just describing some obscure/not-obscure-at-all-why-havent-i-heard-of-it game