E3 officially kicked off yesterday, and the day did not disappoint. Microsoft and Sony both showed off what they have in store for gamers, and there is a lot to be excited about. Plenty of other developers revealed their own exciting news, as well. Here are the highlights:

Microsoft

Microsoft announced pricing and release information for the Xbox One. The console will be released in November of this year and will cost $499. It is already available for pre-order through select retailers. The company also announced a re-designed Xbox 360 that is available now.

Unlike the Xbox One reveal event that left many gamers disappointed with how the focus was seemingly on everything besides actually playing games, Microsoft’s E3 presentation was all about games.

There were a number of highly-anticipated sequels such as Battlefield 4, Forza 5, and Metal Gear Sold V: The Phantom Pain, but there were also some pleasant surprises. Dead Rising 3 was officially confirmed at the show, and attendees also got their first look at Titanfall, a futuristic multiplayer shooter coming in 2014 from the creators of Call of Duty, as well as Ryse: Son of Rome, a Xbox One launch title from Crytek that is set in ancient Rome.

The biggest reveal, however, was a teaser trailer for the as-yet-unnamed next Halo game, which will be released sometime in 2014, most likely in the fall.

 

Sony

Sensing blood in the water after the lackluster Xbox One reveal and controversies over Microsoft’s used game policy and internet connection requirement, Sony pounced.

Its presentation was less about games and more about how it has none of the concerns associated with the Xbox One.

First things first: the PlayStation 4 will cost $399, significantly less than the Xbox One. As if that wasn’t enough to please gamers, Sony announced that the PS4 will not require a internet connection of any sort and that PS4 owners will be allowed to borrow, sell, lend, and basically do whatever they want with their games.

That was the biggest news, by far, but there was plenty else covered during the presentation. For one thing, gamers will now need to be PlayStation Plus subscribers in order to play online.

Sony also unveiled The Order, a steampunk fantasy shooter set in 19th century London, as well as Final Fantasy 15 and Kingdom Hearts 3. Gameplay demos for Assassin’s Creed 4, Watch Dogs, and Destiny further ramped up the excitement and capped off a splendid presentation for Sony.

Microsoft definitely showed off more games, but between the lower price point and more gamer-friendly policies, it’s clear that Sony won this round.

Will Microsoft be able to rebound from its mistakes, or has Sony already won the next-gen battle before it’s even begun? Only time will tell.