We’ve been hearing about Microsoft’s “Project Scorpio” for quite some time, and now it has been officially unveiled as the Microsoft Xbox One X, the company’s next generation gaming console. It will be available starting November 7, and it will set you back $499.

Those of you who have Xbox One accessories shouldn’t worry, as they will be compatible with the new Xbox One X. As far as tech specs are concerned, the new console will pack 6 teraflops worth of graphics power (compared to 4.2 teraflops on its main competitor, the PlayStation 4 Pro). The Xbox One X is powered by a custom GPU engine clocking at 1172MHz (compared to 853MHz on the Xbox One and 911MHz on the PlayStation 4 Pro). As far as the CPU is concerned, the heavy lifting will be done by a custom octa-core AMD chip clocking at 2.3GHz.

In addition to equipping the new gaming console with “super sampling”, in order for games to look better on 1080p TVs, Microsoft will be shipping the Xbox One X with an Ultra HD Blu-ray drive capable of playing back 4K movies; 1TB of storage is also on the spec sheet, in addition to 8GB of RAM.

As far as titles are concerned, Microsoft is promising 22 “console launch exclusives” which will include Forza Motorsport 7, Crackdown 3, and Sea of Thieves, when the game console will become available on November 7.