It's kinda both. From how it's been described, Destiny will be a persistent world where you can meet your friends doing their own thing while you do your own thing or you can team up with your friends to do stuff (like an MMO).
I'm working on a fan made trailer for destiny and I'd like to ask if you'd be interested in telling me on how it could be improved thank you: SGC
just a little community spotlight
http://www.bungie.net/7_Community-Focus-The-Guardians-of-Destiny/en-us/News/News?aid=10372
http://www.bungie.net/7_Community-Focus-The-Guardians-of-Destiny/en-us/News/News?aid=10372
Destiny is going to be huge acording to Bungie. Bungie is putting all the staff into this game said in some vids. Rumor is Its going to be a trilogy with the main Destiny series releasing. Then in between the release years they are puting out a...like promo game to tie you over till the next main release. Looks really cool. The first one is said to be on XBOX 360 then the rest on 720. Can't wait. They said they want it to have the awesomeness of Halo and the vastness of Starwars. Hope it turns out ok
It's going to be a series of 4 games, Destiny I, II, III, and IV released every other year, with DLC expansions each subsequent year. The first game is predicted to be released early 2014, following the release of PS4 and Xbox 720*. It's been confirmed that Destiny will be available on Xbox 360, PS3, PS4 and it is safe to say it'll be on the Xbox 720.
*This is assuming the 720 will be released alongside the PS4 during Holiday 2013