Microsoft’s new gaming console, the Xbox One, release date will be in November and have a price tag of $499. Since Microsoft’s Xbox One announcement last month, gamers everywhere have been dying to know the console’s price and release date. Microsoft finally gave them some answers today at its Electronic Entertainment Expo press conference in Los Angeles. Starting in November, Xbox One will be available in 21 countries inaugurating a new generation in gaming across the globe.

Yahoo News reported video games showcasing Xbox One’s cutting-edge capabilities dominated Microsoft’s E3 presentation. Metal Gear Solid 5: Phantom Pain, featuring the voice of Kiefer Sutherland, kicked off the line-up of thirteen Xbox One exclusives. From the historical “Ryse: Son of Rome” to the latest version of “Halo,” all games featured remarkably realistic graphics, impressing the audience. Microsoft credits the sophistication to cloud computing. “The new generation is about capturing the details which make our world human” said the developer of racing game and audience favorite Forza Motorsport 5.

In addition to the video game showcase, Microsoft highlighted exciting features of the new console.  The “Upload Studio” enables players to edit, comment, and upload game video. Engadget reported Microsoft also introduced Project Spark, which enables players to build a custom game worlds using Kinect, and the new Smartglass app which streams information to the player on the second screen and features other exciting capabilities. Another key update was the store’s replacement of Microsoft points with local currency.

While Xbox One may be hogging the spotlight, Microsoft also announced the Xbox 36o is getting a makeover. According to Yusuf Mehdi, vice president of marketing and strategy, the new Xbox 360 will be “smaller, sleeker, and as quiet as ever.”  Another reason to be excited about Xbox 360? Hundreds of new games are on their way. So not to worry gamers! Microsoft has you covered until November rolls around.