Ubisoft is not doing the game development. Their sub studio Massive Entertainment is. The SnowDrop engine was created for the game. Pretty impressive stuff.
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on pc looks amazing when its on ps4/x1 we will see
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Both PS4 and Xbox1 will run at 30fps (not 60) to preserve "graphical fidelity". There will be no graphics downgrade (ala Watch Dogs) from what you've already seen. Expect full 1080p on PS4 and around 900ish on Xbox1. Some of the trailer footage was actually from Xbox1 gameplay.