Nvidia's RTX has been touted on a bunch of games thus far, albeit mostly in a limited capacity, but Minecraft's implementation promises to take it to the next level, i.e. the entire game will be rendered with ray-tracing.
Considering the hardware price you need to pay for ray-tracing, partial implementation thereof is not surprising. Cyberpunk 2077, for instance, uses the tech on in-game billboards and signs only, as they wanted to bring out the realism to the fore.
Minecraft, on the other hand, has plenty of headroom when it comes to graphics, as the base game isn't exactly a graphics hog.
Nvidia provided a few examples using community member creations, where each highlights a different advantage of the method. The results really look stunning, though.
We sort of jumped the gun with the cover image, which uses every tool in the arsenal to show off the power of ray-tracing. The creation in question is called Crystal Palace RTX and was made by GeminiTay.
BlockWorks' creation called Imagination Island RTX is on the image below and the focus was clearly on god rays. The final product most certainly looks inviting and definitely makes one wonder how to describe the graphics - blocky or just amazing.
Of Temples and Totems RTX by Razzleberries is the image on the bottom, which was used to show of per-pixel emissivity, global illumination and implementation of real-time shadows. In short, lava levels will be looking sweet once Mojang and Nvidia roll it out.
Speaking of rolling out Minecraft with RTX, we still have no fixed date, although Nvidia's "coming soon" and a few tech demos they released suggest we'll be seeing it pretty soon.
If you're interested in more tech-savvy stuff, you can check out Nvidia's videos Creating Physically Based Materials for Minecraft with RTX and Crafting a Real-Time Path-Tracer for Gaming .