Minecraft creator Mojang's new game will be a console exclusive on Xbox One.
Cobalt will also be released on PC, of course, and will support both cross-buy and cross-play across both platforms.
As for the game itself, the short gameplay video showed a 2D shooter that was pretty action-heavy and fast moving.
Microsoft acquired Mojang last year. A Windows 10 version of Minecraft is also in development, as is a version for the Hololens AR headset.