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A lot of new IPs don't hit their stride until the second iteration. If you look at the generation defining franchises from last gen, most of them didn't really come into their own until the second iteration; Uncharted; Mass Effect; Assassin's Creed. All didn't really become massive hits until the sequels (both critically and in terms of sales).

Destiny, Watch Dogs and The Division have the potential to have gen defining sequels. Beyond that we have the likes of No Man's Sky, Horizon and Quantum Break coming this year. We also have VR just around the corner which could become this gens defining moment.

At the moment though, I'd say the most impressive games this gen have been Witcher 3, Bloodborne and Fallout 4.