Sony has finally formally revealed its PlayStation Now streaming service at CES 2014, reports The Verge. The service would allows players to play titles such as The Last Of Us, a Playstation 3 exclusive, on their PlayStation 4 or PS Vita via the cloud.

Sony has always promised a game streaming solution to backwards compatibility, and now it has finally lifted the lid on what the purchase of Gaikai, a cloud gaming technology firm that Sony bought in 2012.

Many details about Playstation Now are still unknown – such as price, where Playstation Plus (Sony’s subscription service for online multiplayer on PS4) will come in to it, or the library of titles. Sony says the individual titles can be rented, or a subscription can be paid.

A European launch window has not been announced, but a North American closed beta will take place in late January on Playstation 4, with a view to launch properly later this year.

If it works well, it should prove to solve the issue of backwards compatibility, which is a decisive factor for many gamers. What do you think? Would you use a service like this? Let us know in the comments.