With Nintendo, Sony, and Microsoft all gearing up to release or unveil next-gen consoles within the next three years, and Apple rumored to be releasing the iPad 3 before 2012 is up, it seems like the market will be oversaturated with new tech for the foreseeable future. Only a crazy person, or a crazy developer, could possibly think that throwing their name into the console ring could garner anything besides groans and confused laughter. Thankfully, there are quite a few of these "personalities" that exist in the video game industry.

Among those developers is Valve, who if the rumors are true, may actually be developing a next-gen console to compete with the PS4, Wii U, and Durango. Rumors had surfaced previously that suggested Valve was working on such a project, but nothing much came of them, and most figured it was yet another Valve tease.

However, according to The Verge, this Valve console is no myth, and it actually carries quite a few features/qualities that would make it a true competitor. Rather than being a dedicating gaming console of sorts, this Valve device would essentially be a PC-esque console capable of running Steam, Origin, or any comparable digital distribution service.

The Valve console would set itself apart not just by offering PC games, but also by not charging developers or publishers a licensing fee and allowing multiple companies to manufacture the machine. Put in simpler terms, this would be a cross between OnLive, a home PC, and an open source console. And, for just a little more added flourish, the console would feature a bracelet capable of reading biometric data — a feature explored by Nintendo, but one that never saw the light of day.

But, as any good Valve fan knows, the developer/publisher is a lot of talk and has a ton of rumors surrounding them at any given moment, making this rumor seem extremely unlikely. However, also according to The Verge, Valve is believed to have shown this console off at CES, and is looking to either GDC or E3 2012 to make an official unveiling.

It seems extremely far fetched, Valve making a Steam-powered console and it potentially releasing this year, nevertheless it's something that caught our eye. The possibilities for launch titles alone (Half Life 3 anyone?) are enough to get the heart racing, let alone knowing that another intriguing, and probably expensive, piece of tech is on the horizon.

What would you like to see out of a Valve console? Do you think it is smart of them to be entering the console war at a time like this?

Source: The Verge (via Kotaku)