The new IP revealed by Ubisoft today at E3 was Skull & Bones, an online pirate fighting game with both a solo and multiplayer. There is a 5v5 PvP mode which was shown off, and you can see in the trailer below. 
It is the Golden Age of Piracy. Renegade captains command the most powerful weapons on Earth: warships. You are a pirate captain who has refused the king’s pardon and sailed from the Caribbean to the Indian Ocean, an untamed frontier full of lavish riches. However, these waters are also a battleground where far-reaching colonial empires, powerful trading corporations, and ruthless pirate gangs clash. In order to survive, you will have to build a lethal fleet, prey upon lucrative trade routes, and ally with other pirates in your endless struggle for supremacy.
You will be able to build and level up your captain as well as recruit your very own pirate crew. One of the new ways to describe it is the naval fighting of AC Black Flag put to a full game by itself. Ubisoft did some incredible jobs here, as the graphics and water physics are incredible.  
Skull & Bones will launch in the Fall of 2018 on Xbox One, and you can see all three trailers below

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