The overall look of it resembles an XBox controller, but with joysticks positioned similarly to a Playstation controller. It runs fully on Google Android OS and has the Google App store to its disposal for a library of gaming choices. It will be able to output video via HDMI; which will also double as a multi-perspective screen option for certain games… can someone say “Wii U”?
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Project Shield is merely “proof of concept” for the time being, but is being received well at CES 2013. So expect a price point and launch date in the near future. I’m personally looking forward to holding a “real controller” for mobile gaming, cheers to Nvidia for beating everyone (i.e. Apple, Steam, Google, Valve, OUYA, and XBox) to the punch; in the mobile handheld platform arena.