Sony unveils 'Last Guardian,' 'Final Fantasy VII' reboot

LOS ANGELES — Just when it seemed Microsoft held a huge edge following its press event with an impressive Minecraft demo and backwards compatibility for Xbox One, PlayStation ups the ante.

Electronics giant Sony unveiled a brand new look at The Last Guardian, an action game from the creator of Ico and Shadow of the Colossus that's been years in the making. The game is scheduled to launch in 2016.

Sony also attempted to tap into every player's childhood memories with the announcement of Final Fantasy VII Remake, a reboot of the classic role-playing adventure. The company revealed a sequel to the beloved series Shenmue, which includes a Kickstarter page where players can fund the game, titled Shenmue III. As of publishing, the project has raised more than $500,000.

Want to know how the event unfolded? Scroll down for the updates from the show.

10:30 p.m.: The demo concludes with Drake grappling onto a truck to escape his jeep that's flying into the water. Event over. Thanks for following along!

10:29 p.m.:Shenmue Kickstarter update: we're approaching $500,000.

10:27 p.m.: After fending off multiple enemies, Drake and Sully hop into a jeep to attempt an escape from an armored vehicle with turret. The level of detail in these destructible environments is amazing.

10:25 p.m.: The crowd roars as the demo starts working again. Drake moves through a crowd of people before a firefight ensues. It looks like textbook, action-packed Uncharted. Explosive.

10:24 p.m.: The demo starts with star Nathan Drake and Sully exploring a dense town. However, it appears we're having technical issues. Time for a reboot.

10:23 p.m.: Layden wraps up the event with Uncharted 4. Demo time.

10:21 p.m.: This first mission features a survival type mode where players must battle against waves of Stormtroopers. As waves increase, tougher enemies appear including Walkers.

10:19 p.m.: The Star Wars fun isn't over. Time for more Battlefront. Patrick Bach of game studio DICE to share more on game missions. They're available online with a friend or offline in solo mode. Players can embark in Hero Battles as characters including Luke Skywalker and Darth Vader.

10:18 p.m.: PS4 will also get access to Boba Fett in the Empire play set.

10:14 p.m.: It's now Star Wars time. We're getting a look at Disney Infinity 3.0, which will include the Star Wars universe. Say goodbye to your money, Star Wars fans. PS4 will have a limited edition play set exclusive to the platform. It's called Rise Against The Empire.

10:11 p.m.: PlayStation gets the Xbox treatment: PS4 will get first dibs on an August beta and future downloads. "PlayStation is the new home for Call of Duty," says House. Players will recall it was Xbox that earned early access to Call of Duty downloads.

Meanwhile, an update on that Shenmue Kickstarter campaign: nearing $175,000 and counting.

10:07 p.m.: David Vondehaar of Treyarch talks more Black Ops III. "It's fast, fluid and visceral and feels unlike any Call of Duty before, says Vondehaar of the game's popular multiplayer mode. Some new weapons appear like the Annihilator, a very powerful pistol. There's also an incredible chain gun that looks attached to the exoskeleton. Insane.

10:05 p.m.: The demo presses forward into a town square where a team of four players tackles a giant walker. It looks as intense as any Call of Duty, only with a more futuristic feel. And it looks like a variation of the exoskeleton suit revealed in Advanced Warfare returns.

10:04 p.m.:Black Ops III takes place in 2065, with the mission based in Cairo. It appears cooperative play will have a larger role in the story mode.

10:02 p.m.: House moves back to games and the partnership with Call of Duty, starting with a game play debut of Black Ops III. Mark Lamia of Treyarch is on stage to demonstrate.

10:00 p.m.: House talking about PlayStation Vue, the streaming TV service. It will soon be available in San Francisco and Los Angeles. It will also allow users to subscribe to individual channels without adding a bundle. Packages are available at discounted rates for PS4 customers.

9:59 p.m.: Sony's Andrew House on stage to talk Project Morpheus. One of the new games is Rigs, a competitive action game that pits players in a mechanized combat league.

9:57 p.m.: The trailer seems to feature a Scarecrow sequence, popular in the first Batman game, Arkham Asylum. The sequnce takes place in first-person. It's part of a series of exclusive Scarecrow nightmare missions.

9:55 p.m.: The next trailer moves to Batman: Arkham Knight and a view of Joker's body seemingly incinerated. Looks like we're getting a deep dive into the game.

9:50 p.m.: Sony is on a roll. A new Shenmue game. Title is Shenmue III. A Kickstarter page is available to help fund the game.

9:47 p.m.: This next reveal is bigger: the return of Cloud Strife with Final Fantasy VII Remake. It appears first on PS4.

9:45 p.m.: Back to Square Enix and Final Fantasy. The game is called World of Final Fantasy, a cartoonish take on the role-playing epic. It launches exclusively on PS4 and Vita.

9:44 p.m.: The demo shows Evie Frye, who uses a cane sword and throwing knives to beat down enemies.

9:42 p.m.: Boyes introduces Assassin's Creed Syndicate, based during the Industrial Revolution.

9:39 p.m.: Boyes here to unveil "the next great adventure in Destiny." Looks like it will feature new classes with fresh Super abilities, including a character attacking with a bow and arrow and one that shoots lightning bolts. It's called Destiny: The Taken King, available in September. Also, looks like this isn't just an expansion. It appears to be a full release, but will double check to confirm.

9:38 p.m.: Adam Boyes is up next. Destiny news coming.

9:33 p.m.:Dreams looks like a combination of claymation and a moving painting. Fascinating, peaceful experience. Some of the dreams featured include polar bears, flying spaceships attacking a motorcycle-like vehicle and another featuring a teddy bear fighting giant zombies.

9:31 p.m.: Media Molecule, creators of LittleBigPlanet, is up next to discuss Dreams. Players go in and explore the dreams of others, then can create their own. The goal was to create an experience that mimics dreaming.

9:29 p.m.: Murray warps into a planet, gets out of his spacecraft and explores. He scans the environment but doesn't find alien life. Murray says every item on every planet is fully destructible. Sentinels roam the planet to protect them from explorers. Murray moves to different beacons to upload data about the planet. Murray says a release date will come soon.

9:27 p.m.:No Man's Sky is enormous. Murray shows a seemingly neverending collection of stars that any player can visit. Good luck finding the free time to do it.

9:25 p.m.: Hello Games is up next to talk about the ambitious game No Man's Sky. "This is a giant sandbox that we're making, a universe-sized sandbox," says Sean Murray of Hello Games. The game includes space combat and intergalactic exploration.

9:23 p.m.: A beta for Hitman will launch only on PlayStation when they pre-order the game, says Qizilbash. Following the brief intro, we shift to fighting game Street Fighter V. It's exclusive to PS4 and PC, with a public beta only on PS4 on July 23.

9:21 p.m.: Confirmed: it's a new Hitman, highlighted by a shot of Agent 47 assassinating an enemy to close the trailer. Asad Qizilbash of Sony appears on stage for more details.

9:20 p.m.: Square Enix is up next with a new trailer, and it looks like it might be Hitman.

9:18 p.m.: The demo continues with the lead character fending off a hulking four-legged beast with just a bow and arrow. The enemy moves like a dinosaur, stomping across the battlefield and whipping its tail. The lead character now uses traps to hold the enemy down for the finish. Looks really impressive. This game is part of a larger trend at E3 of games with female leads. The game is called Horizon: Zero Dawn.

9:14 p.m.: Yoshida introduces Hermen Hulst of Guerrilla Games, makers of the Killzone series. Hulst unveils a new franchise for the PS4. "You know, we weren't the first ones here," the trailer starts as a being views a series of ancient paintings. The game shows a female lead character moving through a forest environment with bow and arrow. She kills a Watcher robot that looks like a dog using a spear. Interesting game so far, and looks gorgeous.

9:13 p.m.: The Last Guardian is slated for launch in 2016. Shuhei Yoshida, president of Sony's worldwide studios, appears on stage. "You don't know how long I've waited for this moment," Yoshida says.

9:10 p.m.: The player's animal friend clings to a ledge as the player climbs up its feathers to safety. He helps roll a log to get the creature up the ledge. Huge emphasis on cooperative play as the two work together.

9:08 p.m.: The character makes a massive leap, as his friend catches him on the other side. The game is a combination of puzzle solving and platforming, as players carefully navigate levels. Looks beautiful.

9:05 p.m.: Sony may have stolen the show in the first five minutes. The Last Guardian revealed, developed by Fumito Ueda. This is not a drill, not a joke. The demo starts with a black screen and feather falling. We now shift to the player navigating a landscape, using his friend, a giant hybrid of an eagle and dog. Video game fans know Ueda's previous work on Ico and Shadow of the Colossus.

9:02 p.m.: Shawn Layden, President and CEO of Sony Computer Entertainment America kicks off the show. "We have risen to the new challenges and opportunities to become the best entertainment experience available," he says. Layden also notes a revolution in gaming that redefines how we play.

9:00 p.m. ET: In true Sony fashion, we begin with a PlayStation video montage. No Man's Sky, Uncharted and Star Wars Battlefront make quick appearances. Lots of applause for Nathan Drake.

8:58 p.m. ET: Just got the "we're about to begin" signal. Buckle up, readers.

ORIGINAL STORY

Earlier this year, Sony confirmed it would launch its virtual reality headset Project Morpheus during the first half of 2016, so expect plenty of news related to games and other details.

There are also several big PlayStation games players will likely hear about, including Uncharted 4. Sony could also discuss updates to its PlayStation Now streaming game service and PlayStation Vue streaming TV service.

Want to watch live? It's streaming on Twitch and YouTube:

Follow Brett Molina on Twitter: @brettmolina23.