Merfolk's Lullaby

In the world outside the Sea of Thieves, a sea-based trading company called the Grand Maritime Union built its influence to become the most powerful organisation in the world à la East India Trading Company, destroying businesses and livelihoods in their conquest for complete control of trade routes. Many pirates and civilians alike did not like the grip over the seas that they have.

As a reaction to too many pirates stealing from each other and killing one another, Ramsey calls a parlay at Golden Sands Outpost to create some order, proposing an alliance with him as the leader. Accompanied by his crew, Mercia, Rathbone and Shan, but there were also notable pirates like Gideon Graymarrow, Eli Slate, Briggsy, and Stitcher Jim who attended this parlay.

Ramsey presented during this Parlay treasure chests that had been locked with the enchanted chains and locks, with the only way to open them was with the set of Skeleton Keys he had in his possession. These treasure chests weren't the only ones he made, as he hid many more across the islands of the Sea of Thieves.

The parlay was interrupted by the arrival of a Kraken that had been awoken when Old Mother's remains were disturbed. The pirates present banded together to fight off the Kraken. Shan used a Chest of Sorrows in the battle to defeat the Kraken.

Amid the chaos of the Kraken attack during the Parlay of Golden Sands outpost, Rathbone took the opportunity to steal the set of Skeleton Keys from Ramsey and to betray his former friend and Captain. Rathbone then sets up the Gold Hoarder Trading Company, using a suggestion from Stitcher Jim, to get pirates to find the locked treasure chests. The deal is that the Gold Hoarders, who have access to the Skeleton Keys, will open the treasure chests and give a cut of the gold to the pirate who gave them the chest.

A Junior Trader with the Grand Maritime Union, Mollie climbs the ranks and earns herself enough reputation within the company to be tasked with bringing a fleet of ships to the Sea of Thieves in order to establish dominance.

The fleet is unsuccessful in passing through the Shroud, with Mollie's ship barely making it through. As they arrive they are attacked by pirates and Mollie, along with a few other high ranking members of the GMU, are left to fend for themselves with only a rowboat and meagre supplies. They manage to row to a nearby island where, after spending a night there, Mollie finds herself abandoned as her fellow GMU superiors absconded with everything of value. She does manage to convince a group of passing pirates to let her come aboard in exchange for her doing her bit on the ship.

After witnessing a vision from an enchanted skull, a young Madame Olivia seeks the Sea of Thieves with two friends and sets up the Trading Company as a means to attain the self she saw in her vision.

The Gold Hoarder Heathcliffe is instrumental in her setting up the Trading Company. The Order of Souls works closely with the Gold Hoarders, providing them with maps to buried treasure that they gleam from scrying the skulls of dead pirates. They also wish to rid the Sea of Thieves of its skeletal denizens and to learn all of its arcane secrets.

After staying with pirates for a time, learning about life at sea, Mollie uses her knowledge and experience as a trader to set up the Merchant Alliance Trading Company, with the intent of moving goods between islands employing pirates as the couriers. She is keen on focusing on quality when it comes to trade. The Merchant Alliance is run by committee, with each of the representatives on each Outpost having equal input on the direction of the Trading Company, and a vote needed to be passed on important decisions.

DeMarco and Lesedi Singh — The Pirate Lord's Children — were given a map by Old Belanger to a treasure left behind by their father somewhere in the Sea of Thieves. This kickstarted a race between the two siblings to who could find this treasure first.

After a lengthy campaign, both of their crews arrived at the same island. There was a scuffle between them, but they managed to dig up an elaborate chest which contained the other half of the pair of cursed pistols. After a brief encounter with The Gold Hoarder, they agree to work together thereafter.

The Ferryman is said to have made the greatest sacrifice of all by becoming the Ferryman, the captain of the Ferry of the Damned, tasked with guiding souls adrift in the Sea of the Damned back to the living world. To this day he is chained to the helm and can't leave it. Wraiths, entities in the Sea of the Damned, help him by guiding souls to the Ferry of the Damned. The Ferryman also assesses threats to the Sea of Thieves and keep them locked away in the hold of the Ferry.

Notorious pirate Captain Flameheart Senior goes into hiding, binding his soul into his skull which was then placed inside a secret chamber on Flintlock Peninsula with the rest of his remains.

Under the command of the Ashen Lord Old Horatio, Captain Adara transported Captain Flameheart Sr's remains aboard the Ashen Dragon. This arrangement had been previously planned out by Flameheart Sr.

Along the way, the Ashen Dragon is assailed by two ships, one captained by Martha Janes and the other Randall Stone. They failled to capture the ship and both their souls are trapped inside their remains.

After completing their Voyage, Old Horatio parted the Shroud, dissipating himself in the process, and the Ashen Dragon went dark as its crew entered a deep slumber.

Humphrey has a chance meeting with Hogarth and begs him to take him on as an apprentice.

Over time Humphrey learnt about the ways of the Gold Hoarders, eventually meeting with the Brotherhood, getting his own Key tattoo and receiving a Skeleton Key from the Gold Hoarder himself.

An Alliance between several ships to seek out new lands beyond the Shroud is formed. The flagship is The Shroudbreaker, captained by Grace Morrow, and outfitted with a magically imbued figurehead that can part the Shroud. The second ship, the Wailing Barnacle, is captained by Stitcher Jim. They are accompanied by 'Fetcher' Farley, Ruby Carter, Old Coop, 'Flintlock' Bert and Hepzibah Jones in her alliance.

Upon arriving in the yet to be charted Devil's Roar Stitcher Jim discovers a tied up box bearing runes, which he nicknames the Box of Wondrous Secrets. He peeks under the lid of the Box and begins to show signs of losing his mind. He betrays the Alliance and kills most of the members, except for Grace Morrow who survives the attempted poisoning.

One unfortunate evening, a pirate by the name of Merrick accidentally stumbles upon an enchanted shanty that brings forth the Hungering One from a deepsea fissure. The Hungering One attacks his ship, the Killer Whale, of which he was the only survivor despite losing both his legs.

After having sailed with numerous crews under the banner of the Pirate Lord's Alliance, protecting the Sea of Thieves from dangers and discovering lost treasures, The Pirate Lord found, however, that life is not the same without his original crew.

His final act was visiting The Gold Hoarder, who has now lost most of his mind due to his dual Skeleton and Greed for Gold Curses. Ramsey speaks to him at length about his adventures since the betrayal, eventually ending with his declaration of retirement.

Ramsey died in mysterious circumstances but he once revealed after mentioning his crew that it all came to an end when some of his hearties turned into those foul Skeletons. Rumours connect the three daggers in his back to this fate. The Pirate Lord attained eternal life by drinking from the Tankard of Everlasting Life and is able to stay in Sea of Thieves as a ghost thanks to his Reaper's Mark necklace that Mercia gifted to him.

Stowing away on a boat, managed to make her way into the Sea of Thieves.

On Sanctuary Outpost she sets up a small 'Banana Stall' from which she overheard information. Witnessing a kerfuffle happening in the nearby Order of Souls tent, she managed to force her way into the crew of the Unforgiven, captained by Adelheid. The other two crew members were Faizel and Little Ned.

Together they discover Tribute Peak and have an encounter with the Gold Hoarder himself.

At the aftermath of her adventure, she is approached by the Pirate Lord and invited to become a Pirate Legend, to which she declined stating she still had many more adventures to go on.

Larinna eventually went on to found the Bilge Rats, a ragtag group of pirates who find the fun in exploring new horizons, creating daring challenges, and not having themselves be beholden to the Trading Companies.

Umbra, a member of a group of cartographers and historians named the Scribes, is taken captive by Captain Bronzebeard due to her extensive knowledge of the Sea of Thieves. She is thrown into the brig with another prisoner Blind Bob to interpret his ramblings and find where he buried a stash of Golden Bananas.

She managed to escape the ship and found herself shipwrecked on an island – the very island where Blind Bob hid the Golden Bananas as luck would have it. After a few days a band of pirates arrived on the island who helped her to find the Golden Bananas in exchange for rescuing her.

After this, she left the Sea of Thieves.