Update: Borderlands 3 will launch day-and-date with the PS5, Xbox Series X, and Xbox Series S, 2K has announced.
That means you'll be able to start playing Borderlands 3 on November 10 on the Xbox consoles and from November 12 on PS5, depending on when the console launches in your territory.
2K also confirmed that if you already own a copy of the game on PS4 or Xbox One, you can upgrade within the same console family for free. That's a pretty great deal for Vault Hunters new and old.
On top of that, there'll be a new episode of The Borderlands Show on October 29 at 9am PT / 12pm ET / 5pm BST.
It's unclear when the game will land on the new consoles, but Gearbox has confirmed that existing Borderlands 3 players will be able to transfer their saves over to the enhanced PS5 and Xbox Series X versions at no extra cost.
The next-gen enhancements for Borderlands 3 include a 60 fps framerate, 4K resolutions, and four-player split-screen. Gearbox also revealed that vertical split-screen for local two-player co-op is being added as a free update to all versions of the game.
In addition, the panel announced that all the new Vault Hunters will be getting an extra skill tree for players to experiment with in the future, showcasing FL4K's new Trapper skill tree (which gives the hunter a new pet in the form of a Hyperion Loaderbot) at the digital event as an example.
This skill tree update is part of Gearbox's plans for future content beyond Borderlands 3's year one season pass, which recently closed out with the launch of Psycho Krieg and the Fantastic Fustercluck expansion earlier this month. Players can also expect a new game mode and more DLC as part of the game's upcoming roadmap.
The PS5 and Xbox Series X are both scheduled to launch this Holiday 2020, so you can expect Borderlands 3 to become available on those systems sometime after that.
Stay up to date with all of the latest releases with our upcoming games 2020 list, or watch the video below for our latest episode of Dialogue Options.