Didn't he write King Arthur? By write I mean adapted the myth into his time.
When fighting the Kraken, I believe we should be true to the movie. Have the Kraken stop the ship and have it's tentacles rise from the water and grab the players. Then in the middle of the struggle the tentacles should slowly rise and crash on the deck, wrecking the ship.
The ways to kill a Kraken
Phase 1. Grab a cannon and shoot its tentacles. Only the most experiance cannoneers should do so, for the Kraken's limbs are fast as they are big.
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Kraken splits ship in half. Players now fight in broken/sinking ship-
Phase 2. A tentacle will then appear around each of the players. The players must use a weapon of their choice to subdue the tentacle then help their own shipmate.
Phase 3. The Kraken will submerge back to the depths for 60 seconds. The players must decide who will complete the next phase.
Phase 4. The single player must go against the Kraken as he jumps on it and tries to poke his eye with a sword. His shipmates have to watch from the deck. The single player must then manuever around the kraken's body, avoiding blows from the tentacles and making it to the eye where the player must perform a successful 10 hit combo. At this the, the Kraken retreats to the depths and a cutscene ensues showing you and your crew escaping you r sinking ship on a rowboat. You then end up in the next port of call.
Phase 5. The rewards for the defeating the Kraken are the following
1. Calypso's Blessing: Sunking ships are automatically raised and no damage on them. This only happens three times after the Kraken Battle (100%)
2. Kraken Scar: Special Tattoo that can be worn on the chest. It's a jagged scar the cuts through the chest. It is a proud battle wound. (100%)
3. Sword of Lost Souls: Made from a leftover Kraken tooth, the sabre contains the souls that were devoured by the Kraken. This gives the sword the special power to realse a fury of spirits at any enemy. (10%)
4. 500 gold (50%)
Now if anyone can come up with the idea to attract a Kraken, I'd say we would be all set.