I watched the video and it is pretty amazing. The console is very small (only consumes 6 Watts) and has access to many games that you buy individually (there is a trial and unlimited version for each game) or in bulk for a flat fee (with different sets of games included). Game prices are similar to those for Wii and PS3, however you don't have to go to store to buy the games, everything is done instantly online.
Today, the Palo Alto, Calif.-based company is announcing it is taking pre-orders for its $99 MicroConsole and wireless controller. With it, you can play high-end games on low-end hardware.
OnLive has been working on its server-based technology for more than eight years and has a team of 200 people. It has raised a considerable amount of money for the task from investors such as Warner Bros. and British Telecommunications. Its latest round of funding gave OnLive a valuation of $1.1 billion.
Read the article at VentureBeat: