Minecraft is coming to both the Xbox One and PlayStation 4 in August of 2014, though the developer of the game, Mojang, did not give a specified date. Unlike the last generation where Minecraft was exclusive to the Xbox 360 for quite some time, this isn't the case for the Xbox One, and Sony must be quite happy about this.

With this new launch of Minecraft, Mojang has thought a lot about what it plans to do, and it shows in pricing. The game will only cost $19.99 on both systems, however, if you're a person who owns Minecraft on the Xbox 360 or PlayStation 3 and plan to purchase it on the Xbox One or PlayStation 4, you will only pay $4.99.

Bear in mind though, this $4.99 upgrade cost is only valid for a full year after launch, so if you fail to purchase the game by August 2015, then you'll be asked to pay the full cost of the title.

Another great thing about Minecraft for the next generation consoles is the ability for players to transfer their saved games from the Xbox 360 to the Xbox One, and PlayStation 3/Vita to the PlayStation 4. However, transferring saved files from next generation hardware to the old consoles will not work.

Furthermore, you might be wondering, will cross platform play be possible. Well, we're sorry to burst your bubble on this, but it just won't be happening. It's sad, but you know, not everything works out magically in the real world, unless you're dreaming.

If you have purchased DLC and skins, the majority will be available for use on the next generation consoles. The ones that won't be able to are trapped in licensing deals, as per Mojang. We have no idea what the details are, and Mojang thinks it's too boring to share.

When Minecraft launches in early August, we expect the game to continue on the success. This title has been a money making tree for Mojang, and we are unable to pinpoint when this might end. Who would have thought that a game with lackluster graphics could turn out to be so much fun? We didn't, but Mojang did.