It seems Tom's Guide has some exclusive information from "industry source" that there will be an Elder Scrolls MMO, taking place a millenium before Skyrim, which sold a boatload of copies.
Also, according to the source, "Elder Scrolls Online will have three playable factions". Read the full article from here: http://www.tomsguide.com/us/ZeniMax-Bethesda-Elder-Scrolls-Online-MMO,news-14481.html
What do I think about the likelyhood of this happening? Let's consult Futurama.