Yes, this is a multiplayer Fallout title. However, there is no set release date for the game at the moment. Typically, a beta occurs a month or two before release, so expect a Fallout 76 beta some time in September or October. If you want to join the beta then you are going to need to pre-order the game itself. This space is used by other players, because Fallout 76 is entirely online.
Base building from Fallout 4 returns, but is more flexible. Additionally, dying will not cause you to lose your character or the items they are carrying, which should severely limit griefing. There was no word about private servers or a way to remove the PvP side of the game.
Bethesda also showed off another trailer for Fallout 76 on Sunday as well during Microsoft's session.
At the tail end of Bethesda's E3 2018 press conference this evening, Todd Howard made a whopper of an announcement, confirming once and for all that The Elder Scrolls VI is indeed a thing that exists. The first announced Starfield, its first wholly original title in 25 years with a teaser trailer.
The Collector's Edition will include a wearable Power Armor, with pre-order available through either version.
Fallout 76 will release for PS4, Xbox One and PC on November 14.