Beards will be added with the release of SH5 - Character Creator Kit, which is to be released soon before the game hits the shelves.
Players that preorder will get a special online code which would enable (via online activation) more colored beards for the crew, haircuts and possibility to import characters from their The Sims 3 game produced by a friendly company.
Also, do not forget the special armor tier which enhances the DEX and MANA of your boat.
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