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Somini said:

Also, a countdown to the E3 launched by Xbox official blogger Major Nelson has sparked speculation that Microsoft is gearing up to unveil Xbox 720 at the event. The console was speculated to release around the same time as the unveiling of the "Destiny" game in October.

Check out the tech demonstration of Project Awakened Unreal Engine 4 (UE4) in the video below:

 

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I don't understand this part.
Destiny as in Destiny the game from Bungie that has the best version on the PS4?That rumor Destiny is a timed Microsoft Exclusive is dead
The demonstration video is from a kickstarter game as far as i know http://www.kickstarter.com/projects/1312036782/project-awakened

Is Microsoft short on money?I don't think they would hype up a "cheap" kickstarter for an event to counter Killzone 4 and other stuff.
Oh and btw its a PC game mainly
Look up the Supported Platforms section.The part that isn't fat is obviously outdated cause UE4 is on every NextGen Consoles like the PS4/Nextbox and PC

Presently the only platform that we can commit to is Windows PC as Epic has not yet publicly released platform support information for UE4. However, we plan to launch on all platforms that will work with both UE4 and Steam.
There is also a chance we would consider console support in the future, but that would be further down the line and would depend on cost and freedom to support the community features we will be developing.