Dark Souls does precisely this in a fantastic way in two major mechanisms. The first is the shared player "graffiti", wherein players can write messages that are then propagated into others' games. The second is the shared "death ghosts', which play back a player's last moments before death in others' games as a ghost you can't interact with. These make the game feel like you're playing with others in a large world without having to actually put you in the same instance.