March, 2013 could turn out to be an exciting month in the tech world — one that could forever change the gaming industry. It’s the month when startup company Ouya plans to ship the first boxes of its eponymous gaming console, Wired reports.

Here’s why Ouya could be a very big deal.

• It will cost $99: Microsoft‘s (NASDAQ:MSFT) 4GB Xbox 360 usually retails new for about $199 at stores like Best Buy (NYSE:BBY), whereas the 4GB Xbox 360 with Kinect starts at about $299. Nintendo‘s Wii (PINK:NTDOY) packages start at about $150 at Wal-Mart (NYSE:WMT).
• Ouya uses smartphone technology to operate: It’s based on Google‘s (NASDAQ:GOOG) Android. This means users will download Android apps instead of purchasing actual game discs and cartridges that usually cost upwards of $30 a pop.
• Game possibilities are seemingly endless: Any Android app developer could publish apps on Ouya. The company is already working with several partners.
• Hackers are encouraged: That’s right. Ouya actually wants hackers to create their own peripherals and connect via USB or Bluetooth.  The company might even use hardware designs from hackers.

Ouya was founded by Julie Uhrman, who formerly led IGN’s digital distribution business.