OnLive could disrupt the Sony, Microsoft, and Nintendo's video game console businesses! OnLive cloud-based gaming service could kill Sony's PlayStation3, Microsoft's Xbox 360, and Nintendo's Wii!

OnLive, founded by WebTV founder Steve Perlman and former Eidos CEO Mike McGarvey, is a tech company that has been working to develop a new technology for seven years. San Francisco based OnLive has now unveiled its new technology, which helps to play even the most complex PC games on a television set or any PC, at Game Developers Conference, San Francisco.

OnLive is planning to launch a new gaming service, aiming to make all modern games playable on any system. OnLive new gaming service will digitally distribute first-run, AAA games from publishers like Electronic Arts, Take-Two, Ubisoft, Atari, and others to be played on Intel-based Mac or PC running XP or Vista, regardless of how powerful the computer.

OnLive gaming service will revolutionize the gaming world. It will not require upgrading of PC hardware or buying new gaming consoles every generation to play next generation games. It will use cloud computing technology that will help doing games' video and audio processing on remote servers and then streaming the resultant images and sound back to the user quickly enough to play games in real time.

OnLive service will allow users to stream games directly to a TV via a small plug-in device. The service will let the gamers use a custom wireless controller as well as VoIP headsets in conjunction with it.

According to OnLive founder and CEO Steve Perlman and COO Mike McGarvey, OnLive service will works with any standard PC game, and will not require developers to code for a proprietary system.

OnLive gaming service is salted to be launched by the end of this year. Currently, OnLive new gaming service is in a closed beta; it will go into a public beta this summer, and it will be officially launched this winter, by the end of 2009.