Mojang plans to release Minecraft on the Xbox One & PlayStation 4 in late summer.

Mojang has been hard at work to get Minecraft ready to debut on the next-gen consoles, and the time is almost right!

Slated for an August release, new players can purchase Minecraft for $20 on the Xbox One or PlayStation 4, while current owners of either the Xbox 360 or PlayStation 3 editions can upgrade for $5. A PlayStation Vita release will also occur in August, and as long as you own the game on either the PS3 or the Vita, you own it for both platforms.

Check out all the details about the August release over on the Mojang blog.

Ann "Cyliena" Hosler, Managing Editor