Project Scarlett unveiled during Microsoft's E3 conference

Xbox head honcho Phil Spencer closed out Microsoft's press conference with the expected reveal of the next generation of Xbox hardware, and it's called Project Scarlett.

First, Spencer talked about taking Xbox to the cloud, which will be done in two ways, via Project xCloud and by console streaming. Project xCloud is a feature that turns your console into an xCloud gaming server, so you can play on the go via your devices, and that's starting in October.

Then it was time for the main event, and we got a proper look at Project Scarlett.

Microsoft wants to cut down on the load times, and using AMD's Zen 2 processor and high bandwidth GDDR6 RAM, the company is looking to turbo-boost the next-gen by making the new console four times as powerful as the Xbox One X.

That means 4K visuals, up to 120 frames per second, ray tracing graphics in-line with what PC players are enjoying, and a new generation of SSD that offers huge performance increases.

As is the way of things, we saw a succession of developers tell us about how transformative the experience will be, and then Spencer returned to tell us that it's coming next year, during Holiday 2020, when it will launch with Halo: Infinite, which was the game that closed Microsoft's conference. How about that for a mic drop?!

And how about this for a soundbite: "It eats monsters for breakfast."