This design may be a little bit similar to some I described here, but it has some differences that do change the game.
Here, you have an open-world, very “middle ages-like”, that’s populated by humans and small creatures that can change the world: some people call them fairies, because of their sizes, but they can destroy an entire plantation anytime they want, or transform every piece made of wood in wool.
So, you’re a Scholar, member of a “organization” – it’s more like they have a point in common, but you wouldn’t see many of them working together – that’s looking for peace, doesn’t matter what it may cost: some Scholars fight for the people, some Scholars try to create some middle-ground, and some may even work for the Fairies, asking the people to move out.
As the Fairies are pretty powerful, I imagine this as an open-world where you are never attacked by people, or fairies. What you do, though, and it’s entirely up to you: your job is to study Fairies and give reports, if you do it by going through towns, doing jobs that requires some work, looking for books, tomes and reports by other Scholars, or yet talk to them directly.
For this very reason, I think this game could be something akin to a MMORPG: if there are enough Fairies that one player couldn’t be able to deal with all of them, players that are immersed enough to not look for guides in the net, and limited resources in the game for players to write their own reports, that would be the opportunity for the creation of a nice community, that works together towards a common goal: to fulfill their notes with all the Fairies. Players could give personal reports, hints, discuss locations, everything in these notes, or even in common places like towns: players could get together, get information about what they want, and then return to the single player, being able to actually change the world, for example taking the Fairies off a castle, letting people settle themselves there.