Yarr better believe it.
UPDATE: King of Pirates is currently only planned for release in Japan (as of Oct. 2011), according to the game's recently launched website.
ORIGINAL STORY: Mega Man creator Keiji Inafune is making a Nintendo 3DS game called King of Pirates, due out next year.
It's described as an action RPG with multiplayer by Andriasang. King of Pirates (Kai-oh in Japanese) has a pirate theme. You play as a penguin.