The Dreams beta has now ended and all NDAs have been lifted. Writing in a blog post on the Media Molecule the developers said:
Thank you all SO much for your time, feedback and incredible creations. Since the 19th of December nearly 15,000 things have been published in the Dreamiverse! Seeing all the amazing things in your heads spill out into the Dreamiverse has been a wild and exciting ride. While we don’t want that ride to stop, we do need to get back to making Dreams a reality and we still have some work left.https://www.mediamolecule.com/blog/article/bye_bye_beta
Media Molecule went on to say:
We don’t want to leave you in the dark, so look out for a Dreams update on February 20th!https://www.mediamolecule.com/blog/article/bye_bye_beta
A release date for the game is yet to be announced, but it is widely expected to be released this year.