Rare and Xbox Game Studios have announced that the Anniversary Update for Sea of Thieves is out now, giving players access to new content like The Arena and the first Tall Tales, Shores of Gold, you can catch a glimpse in the trailer below.

In The Arena, five crews will take command of galleons and set out in pursuit of the same buried booty. Being the crew that grabs the treasure and returns it safely to the new Sea Dogs Trading Company will earn your crew some valuable silver, but so will scoring hits against enemy vessels with cannon fire and taking out other players in combat. Now that ships can suffer damage to their wheel, masts and capstan, these sea battles will offer even more tactical depth and more opportunities for mayhem. The crew with the most silver at the end of each 24-minute bout will earn a well-deserved victory, and so The Arena is the perfect way to experience the hectic hilarity of a Sea of Thieves voyage when you only have a short time to play.

In Shores of Gold, pirates will assemble the mythical Shroudbreaker artefact, seeking to use its power and reach a mysterious island filled with fabulous riches.

Along the way, players will solve puzzles, explore ancient labyrinths, dodge traps and do battle with fearsome Skeleton Lords. The story spans nine Tall Tales, each of which has been designed to combine dramatic storytelling and narrative cutscenes (voiced by professional actors) but still be playable and enjoyable over and over, especially since they take place in a living, unpredictable world where other players might well have their part to play in your adventure.

All the details about what the update includes can be found on the Xbox Blog, so be sure to head there and read all about it.