Sometimes, the best way to kick off a new year is by taking a good look back. Gaming favorite Coleco is staging a major comeback in 2016 with the confirmed release of a new console that will let players experience cartridge games once more.

According to an official release from the RetroVGS website, the company Coleco teamed up with Retro Video Game Systems to create the upcoming console that has been dubbed as the Coleco Chameleon. The team described the Chameleon as "a versatile new video-game system that serves as a modern day take on the classic game console and will accurately play classic games from the past."

While offering retro styling and system, the Coleco console will be able to support new games with the eight-, 16- and 32-bit styles. The titles will come in cartridges reminiscent of classic gaming with its clamshell cases, illustrated manuals and developer notes.

President of Retro Video Game Systems Mike Kennedy also talked about their team's upcoming console that will reintroduce the concept of cartridge-based gaming to a new audience.

"The Coleco Chameleon is a love-letter to all the classic cartridge based gaming systems that came before it and we love the fact it will succeed Coleco's successful Telstar and Colecovision product lines," he explained. "It will take gamers and their families back to a simpler time where games were all about great gameplay and fun factor."

The Coleco Telstar series was released by the company in 1976 to 1978 while the successful Colecovision was launched in 1982. Both played a huge part in classic gaming, especially Colecovision which was lauded for bringing hit arcade games to the home console, according to a report from IGN.

Indulging in retro systems -- or even retro-styled ones -- often mean shelling out a bit more money, but it seems like Coleco is bucking the trend and making their new project easy on the players' wallets.

After a Twitter user expressed concern on the price point of the console, the official Twitter page of the Chameleon responded, "It will be significantly more affordable than the first go-around."

The Coleco Chameleon is expected to drop in early 2016. Ahead of its release date, players will be able to get a glimpse of the console during the Toy Fair New York 2016 from Feb. 13 to Feb. 16.

Is cartridge-based gaming on its way back? Will you be picking up the Coleco Chameleon to give it a try? Let us know in the comments below.