Get your pickaxe ready, because Minecraft: Xbox One Edition is coming to the Xbox LIVE Marketplace this August, Microsoft announced today. It'll debut at $19.99, but if you already own the Xbox 360 Edition (either disc or Xbox LIVE Marketplace version) then upgrading to the Xbox One edition will only cost $4.99, provided you do so within the first year of release.
As previously revealed, Minecraft: Xbox One Edition will contain "even bigger worlds (with scenic vistas)" and a greater draw distance than the Xbox 360 version. It will also have the option to import your saved game data so that you don't lose any progress going from Xbox 360 to Xbox One. Unfortunately, you won't be able to make the jump backwards from Xbox One to Xbox 360.
"We can make worlds bigger without too much stress, but shrinking them causes all kinds of problems," Mojang explained. Also, cross platform play will not be possible between the two versions, though most of your downloadable skins and texture packs will carry over to the Xbox One.
"Many, but not all, of the DLC skins and texture packs you’ve purchased for Xbox 360 Edition will be available for use in Xbox One Edition," Mojang said. "We’d like to say all your DLC would transfer, but some of the items are trapped in licensing deals that are too boring to get into here. We’ll have more on this soon."