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As they stated in the FAQ, no, it won't be what everyone is thinking:
Yes [actually, no...], you will be able to play with your friends! Multiplayer games encourage social bonds that go far beyond what can be accomplished in a solo player game. I remember the depth of these bonds in players who met in-game only to get married in real life, how people who died in the real world were deeply mourned and celebrated by their online friends whom they may never have met face to face. Though Shroud of the Avatar won’t be a massively multiplayer online role playing game, it will be a multiplayer game. We will be describing this in more detail in our upcoming community blogs.