You may recall that we wrote about the game back in July, at which point it was only revealed for PC. Since then, Fornace has secured the Xbox One release through the ID@Xbox program, so is able to make the announcement.
Fights in Rivals of Aether are won by dealing enough damage to your opponent that you can then push them out of the ring.
The fighters are elementals (fire, water, air, earth), and so they each come with their own special abilities that can affect the battlefield. This includes creating fire pits and puddles.
Fornace is aiming to create a game that is fun for couch multiplayer while having enough depth for intense 1v1 competitions. The current plan is to release Rivals of Aether on PC and Xbox One in 2015. There’s more information on the game’s website.