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Crytek, the developer behind games such as Far Cry and Crysis Warhead, announced last week that they will be presenting their third generation engine at the upcoming Game Developers Conference in San Francisco. CryENGINE 3 is the first engine for the Xbox 360, Playstation 3 and PC (DirectX 9/10) that is "truly Next-Gen-Ready". The engine includes scalable computation and graphics for all major systems, the first development platform to include this feature. A third generation sandbox level editor will also be included that will allow developers to easily test what they have created. Additionally, the engine will come with new features designed specifically for consoles, massively multiplayer online games (MMOGs), and next generation game development.
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Updated: Crytek to introduce CryENGINE 3 at GDC