Xbox One and PlayStation 4 both announced exciting plans for the near future at the Electronic Entertainment Expo (E3).

New games and features are expected from the next generation consoles, according to Forbes.

Xbox created a buzz when they announced that last generation games for the Xbox 360 would be playable on the Xbox One. This means that Xbox 360 players will not have to throw away their old games. This is a feature that PlayStation 4 will probably not match and gives Xbox an advantage for those who are debating between purchasing a PlayStation 4 and an Xbox One.

Xbox also announced "Halo 5: Guardians." In the new "Halo," the multiplayer mode will be capable of supporting up to 24 players in much larger maps than previous versions of the game.

Followers of the E3 event were excited to learn about "Fallout 4." It was one of the show's most anticipated games.

Xbox even impressed the crowd at E3 with a spectacular HoloLens demonstration, according to The Verge. They showed off how "Minecraft" can be played with the virtual reality device.

Finally, "Gears of War 4" will be an Xbox One exclusive next year.

PlayStation 4 was able to make three exciting announcements when it comes to highly anticipated games.

Coming soon to the PlayStation 4 are: "The Last Guardian," a "Final Fantasy VII" remake, and "Shenmue 3."

"The Last Guardian" has been in its development phase for almost 10 years and gamers have been waiting for it to debut ever since.

"Shenmue" was a series that had been dormant for years and it took social media campaigns and online petitions to fire up a Kickstarter campaign to raise over $2 million for the game to be resurrected. The campaign quickly reached its goal and Shenmue 3 is now a reality.

Xbox One's presentation was more exciting and encouraging than PlayStation 4's. The backwards compatibility on the Xbox One was heavily approved by those in attendance at E3. The HoloLens demonstration shocked viewers and offered a glimpse at the advanced future that virtual reality could bring to video games.