Now that the demo is all localized and released, I have restarted working on the main game again. I started this yesterday and have a large portion of the Northeastern hemisphere. The polar caps will be all iced in, but the East to West direction do loop like a globe would. I capped the North and South poles because looping that is not how a globe works, so I am blocking that all off like other naval games like Water's Bounty.
Obviously there is a lot of work to finish this, but it gives you an idea of how I am shaping this fantasy world. I am using the same template of Earth because funny enough, it's a perfect level progression layout for a game. The Americas are the far late game areas, while Europe, and Asia are your early to mid game trading spots. This would be where Europe and part of Asia would be. I have to extend the map and this continent before it's finished. Below it, which you can see the green grass layout I am planning at the bottom of the screen, is a continent that will be similar to Africa that you will have to go around to get to the other side of the Northern continent. 
This zoomed in part of the map is where the game is going to start. You start inside the cove area, and are blocked off by a ship stopping you from getting out. I haven't decided it yet, but either they will be a ship you have to defeat, or they will allow you out into the open ocean only if you have the two mast ship. The rivers are not just to section off areas from walking them, but will be able to traverse using a boat you can buy later in the game. There will be towns and missions you can't get to until you buy the boat.
I will update you all as I finish more of this world map, but just know this map is already 250 blocks North to South, and I am planning on it being 500 to 600 blocks East to West. This is by far the largest map I have ever made.