It is much like the real world around 1100-1500 years after Christ, i. e. a "High Medieval" setting.
The main thing of importance are the wars between the Elves and the Orcs. The Orcs and elves are the closest relatives in the humanoid evolution tree, and therefore they do look very similar, as seen in [this picture]. This picture also gives away most of the concerns of elves, when the Orcs had the upper hand in the wars. There are two main elven tribes, the Eagles and the Lions, and the Orc hordes overran the Eagles, and the Lions tried to make trades with the Orcs, only buying them a little time. Elves were the lowest slave race of humanoids after the raids, until they became "angels" and "ghosts" and finally a few of them turned into vampires, being the ancestors of the Cat People of the NOW!-level.
There will be much more information on that within the T.O.W. pages.
TL;DR:
Medieval high fantasy with swords and orcs and shit.