In addition, the company's Mike Ybarra has revealed that all future Games with Gold that are available on the Xbox 360 will also be accessible on the Xbox One. At the same time, he also announced that DVR functionality -- which is also free -- will come to the console in time for the holidays.

The rest of the dashboard's features were outlined at E3, the most notable being the integration of Cortana, Microsoft's digital voice assistant. She can be used to perform minor tasks -- like recording and sharing in-game footage -- without you having to stop your epic career mode run on Fifa 16. The revamped UI also offers a new quick-launch menu that pops up when you double-tap the Xbox button on your controller.

We're live all week from Cologne, Germany for Gamescom 2015. Click here to catch up on all the news from the show.