I'd been playing for an hour or two before this bug actually occurred. It should be noted that the world didn't have anyone else on it at the time of the occurrence and I still have no idea what triggered it. As you can see in the clip I linked at the bottom, at a certain point, I lose the ability to open my inventory, chests, crafting menu as well as the ability to take fall damage. If I break a block, it just disappears, and if I try to drop an item in my hand, it too disappears. I have no idea what's going on, but it's definitely game breaking.

https://youtu.be/DIYA7pSBXfo