Wow, spoilers galore. Ill be back after the movie comes out!
Looks like...
Hades creates the Kraken from part of his flesh to attack the other Gods with it. Zeus brings together a team, led by Perseus, angered because his family was murdered by Hades, to find the Medusa, whose stare is the only thing that can kill the Kraken. Hades finds out about this, sends monsters after the team, orders his mole, Acrisius, to slown them down and demands Andromeda's sacrifice in exchange for her land's freedom ("Turn them on eachother"). Off course he's lying and is going to destroy them anyway...

To ease the wait for April 2nd, here's a "Clash of the Gotham Titans" mash-up I did for fun in my free time:
Oh, yes. There will be Kraken...
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Yeah, same here.As a fan of the original...I hope I enjoy it.

This movie is looking more and more insane the more they show footage. Can't wait!