The day has arrived, ladies and gentlemen, and Microsoft has unveiled their next generation Xbox console. Presenting … the XBOX ONE.

Yes, we’re not sure why that’s the title they went with, either, considering this is now the third Xbox console. We knew the Xbox 720 was unlikely, but still.

That said, it’s only a title. Instead of taking the PlayStation 4 route and not showing the console during the console reveal, Microsoft did show what the new system will look like right off the bat. They also went into great detail about what you can expect from the new system.

Continue reading to see what the Xbox One looks like, what kind of power it has, and what kind of new features it offers, complete with videos.

So there’s a closer look at the system itself. Looks like one of the older blocky-type consoles, not the sleek, futuristic look you might have expected. But it had to be super powerful, so it’s understandable that it be a little large at the start.

But how powerful is it? Here’s a rundown of some of the Xbox One specs.

The main thing that has some gamers a little perturbed is that today was more about the console and its new non-video game-related features, which is understandable. But we knew today was about revealing the console and talking about “the future” with the games being the focus at E3 next month, and that was exactly the case.

As for the new features, the Xbox One looks like it will be a one-stop shop for all of your entertainment purposes. The system comes complete with a Kinect sensor, and the event today kicked off showing off the instant response of voice commands. Turning the system on and switching between your game, a movie, Internet Explorer, or one of the system’s new features, live TV, is as easy as speaking the words. See the video below to see it in action.

A whole lot of talk during the event talked about the Cloud and lots of stuff that only sounded like one of gamers’ worst fears: a required “always on” system. Most people will be always connected to the internet anyway, but most don’t want it to be a requirement. This is why the most important thing from today actually came after the event was over. Microsoft’s President of the Interactive Entertainment Business Don Mattrick was asked point blank whether the system would have to be always on for things like single-player games, and made it clear that it would not be required to be connected to the internet unless you were doing the obvious online things like multiplayer or streaming and so on. Very good news.

No official release date was announced, only that the console will be releasing sometime this year.

A couple of games were shown off—stay tuned for separate posts on those—but for now, here’s the big console reveal, and a demonstration of the things you’ll be able to do with the Xbox One.

Be sure to share your thoughts below!

Videos