MICROSOFT: Rare announces brand new Xbox One IP, Rare Replay collection

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Banjo-Kazooie creator Rare has come out in full force at Microsoft's E3 press conference.

The studio unveiled Sea of Thieves, an ambitious open-world title taking place in a Caribbean-like sea-and-island world.

The announcement trailer for the game showed multiple players crewing a pirate ship and exploring an island, finding treasure and battling reanimated skeletons.

"This is, by far, the most ambitious game Rare has ever created," said Rare studio head Craig Duncan, speaking on-stage.

But that wasn't all from the outlet – it's also diving back into its past in celebration of its 30th anniversary.

The Rare Replay collection will bring together 30 games, including Perfect Dark,Battletoads and Banjo Kazooie.

The collection will offer achievement hunters 10,000 Gamerscore to achieve.

It will cost $30 in the US, and is due out August 4th.