Microsoft Xbox 720

The new Xbox home gaming console is official: At 10 a.m. Pacific on May 21, Microsoft will lift the veil on its next Xbox console in Washington.

Microsoft is inviting the media to its Xbox campus in Redmond, Wash., for the reveal. Xbox division president Don Mattrick will host the presentation in which the company will show off the followup to its successful Xbox 360.

We don’t know much about the next Xbox. Recent rumors suggest it’s not as powerful as the upcoming PlayStation 4, that it will require an Internet connection, and that it may have a new Kinect motion-control camera.

In February, Sony debuted its PlayStation 4. The company focused on Internet features and blockbuster games. Sony has since turned down the volume on PS4 news as it likely prepares for big reveals at the upcoming Electronic Entertainment Expo gaming conference in Los Angeles in early June.

Microsoft’s Xbox event takes place only three weeks before E3. The company is likely hoping to maintain the momentum through that important event.