Maybe?

This little teaser comes from MMORPG.com's interview with Jeffrey Steefel (the game's Executive Producer):

Jeffrey Steefel:
As it stands, there is no PvP in the traditional sense; that is, player characters fighting each other. We understand that PvP is a feature that many people would like to see so we are exploring alternatives more appropriate to the Tolkien mythology. Stay tuned we think you ll be pleased ;)

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