The world's third best selling PC game of all time, with 54 million copies sold, has just announced that its newest edition, 'Minecraft: Xbox One Edition' will be released onto the Xbox Live Market in August.

"We can see the light at the end of the tunnel! #MinecraftXbox1 #MinecraftPS4 #MinecraftPSVita," 4J Studios, the game's developer of recently tweeted. K Pop Starz speculates that this means the game is in its final stages of production.

The new version is set with a $19.99 price tag, but will be cheaper for anyone who owns the previous edition. Anyone who owns a 'Minecraft Xbox 360 Edition' from Xbox Live Marketplace, or has played online with the disc or digital version, will be able to upgrade to the new game for a reduced price of $4.99.

Similarly, the game will also cost $4.99 for those who have the PS3 Edition.

For those who will be upgrading from the 'Xbox 360 Edition' to the 'Xbox One Edition', the players will not have to start from the very beginning of the game.

Upgrading from the Xbox 360 version allows the player to have their saved game imported to the new 'Xbox One Edition', including the features and the Minecraft "world" that the player has created.

"That's right: You don't have to start from scratch. You can just keep going, right where you left off! That goes for most (but not all) of your downloadable skins and texture packs, though not all of them will make the jump." Roger Carpenter, Microsoft's lead producer on the Xbox conversion of Minecraft, said.

"#minecraftxbox1 will be 8 player at release but we will continue working to allow more players in a future update!" Carpenter, tweeted.

"Minecraft" was originally launched by Mojang in 2010.