The Captain Flameheart that appears as a ruthless, angry specter in the sky is none other than Captain Flameheart Senior, Flameheart Junior's whereabouts are still unknown, but he became a skeleton lord as well.
Captain Flameheart Junior's ship met its demise when he acquired a Kraken's Chest, a chest that the merfolk owned that attracts Krakens. When other crews caused Flameheart Junior's ship, "The Silver Blade" to sink in the shroud, Flameheart Jr. and crew ventured into a cave on an unknown island and drank from a chalice which turned them into skeletons. A riddle was what led them down into the cave to drink from this chalice.
A Skeleton Lord known as the Cap'n was who created the riddle. The Cap'n was betrayed by Flameheart Sr. and agreed to take Flameheart Jr. under his wing - the current known story of Flameheart Jr. ends there.
In the new trailers for "A Pirate's Life"
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An unkown skeleton lord is seen beheading another skeleton... could this be the Cap'n or even Flameheart Jr.? (The Cap'n is more likely in my opinion)
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The Silver Blade is shown in the newest trailer, sunken to the depths and riddled with cannon fire, so it seems clear that the location shown in the trailer where we face off with this full bodied Kraken is the same location where Flameheart Jr met the Cap'n and became a skeleton lord.
It seems very clear to me that the upcoming narrative focuses on the Flameheart story in some capacity. After all, Rare did say that this collaboration was going to move the Sea of Thieves lore forward as well.
A few concerned voices have spoken their fears about this collaboration, that Rare would abandon their own lore in favor of the characters from Pirates of the Caribbean, but I do not think this is going to be the case.
I do not believe Rare decided to abandon the story of Flameheart - I believe "A Pirate's Life" is a continuation of the story of Flameheart! I believe we will see Jack Sparrow and Davy Jones written into the history of Sea of Thieves in a major way, playing a part in the evolution of our beloved Sea of Thieves original characters, and to me, that's awesome.
Tia Dalma in the announcement trailer mentions that we are seeking out Jack Sparrow to save the Pirate Life. Obviously Davy Jones is a threat to that life, but Flameheart Senior is still out there wanting to destroy and remake the Sea of Thieves!
P.S. - perhaps the Cap'n will be having us drink from that chalice as well :)
