The announcement was made at this week's Game Developers Conference in San Francisco. OnLive is a Cloud-based on-demand gaming service that opens up PC and Mac games to people for a flat monthly subscription fee.
This is different from similar offerings like GameTap, which lets gamers play old-school console and arcade games. OnLive promises to deliver brand new retail games accessibly the day they are released in stores.
In addition, there will be an entire social media network built around the service, allowing players to send game video, record achievements, set up friend lists, and chat with fellow subscribers. All this will be available for $14.99 a month.
When it launches on June 17th, OnLive will only be available for Web browsers on PC and Mac devices. However, the company is planning a set-top unit that would allow users to play the games on a TV.