A great disturbance was felt in the secondhand gaming community, as if millions of voices suddenly cried out in terror and were suddenly silenced. At the Consumer Electronics Show this past week, Sony announced plans to launch a new streaming game service entitled PlayStation Now, which will be powered by their recently acquired cloud-based technology company Gaikai. As the announcement was made, GameStop shares took over an eight percent dive. Learn more about PlayStation Now after the jump and how it will affect Sony users.

For those Sony loyalists that have been waiting for backwards compatibility to reemerge, that time is PlayStation Now. In a move to rectify this once lost feature, Sony’s PlayStation Now will provide gamers the chance to stream beloved PlayStation, PS2, and PS3 games to the PS4 and PS Vita as well as other Sony connected devices such as Bravia TVs.

Sony plans on rolling out PlayStation now later this year with only PS3 and PS4 games. Soon after, those games will be able to stream on the PS Vita once the transition sets in. What this means is, if you’re playing a game on the PS4 and would like to continue playing outside the comfort of your home, you can stop and pick back up on the PS Vita. Much to how Netflix works with smartphones and tablets. Sony fans can rest assured that even their trophies will be able to sync cross-platform.

Official statement from the PlayStation website:

PlayStation Now offers the first ever streaming game service on consoles powered by our exclusive advanced cloud-based technology. Gamers can now play games the same way they stream TV, movies and music…instantly. Starting with PlayStation3 and PlayStation4, and expanding to PlayStationVita, BRAVIA TV’s and other Sony and non-Sony devices, PlayStation Now will be available on the electronic devices gamers use most.

PlayStation Now gives gamers instant access to some of PlayStation’s most popular full games. With a wide variety of games to stream, there will always be new challenges to conquer, instantly.

We are excited about the future of game streaming and invite you to keep up with the latest news and updates on the evolution of PlayStation Now in the future.

You can sign up on the PlayStation website for more information as it becomes available.

There has been no announcement as to how much this new service will cost or if it will be an added bonus for PlayStation Plus subscribers, but this doesn’t bode well for retail outlets like GameStop. Despite falling 8.37 percent, the stock has risen back up 5 points and has maintained steady ground. It’s only a matter of time before gamers make the big switch to all digital, which will have GameStop soon rethinking their business model.

PlayStation Now will be offering a Beta version at the end of January to a select few PS3 users. The official debut of the service for both the PlayStation 3 and 4 will launch this Summer in North America. Your move Microsoft. Let the dick measuring contest continue.

Will you sign up for PlayStation Now?

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Source: Forbes