We heard about it earlier, and now it's official. The Nexus Q is a streaming media player that is designed to centralize your media streaming in the living room. The device connects to Google Music and allows  both you and your friends to add media and rearrange playlists as they feed directly to your home theater. The device will launch for $300 on the Play Store.

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The device includes support for optical audio out, as well as micro HDMI video and audio. The device can connect to the internet via WiFi or ethernet. The device connects and can be set up via NFC. The device also includes a micro USB port to "encourage general hackability." This line was, of course, met with thunderous applause.

Because it's social, the device allows anyone with access to your Nexus Q to share media from their Play Store accounts. The Google engineers demoed using the device to share one users movie on someone else's Nexus Q. It's unclear if users will have to be in the room or on the same network with a Nexus Q to allow this to work, or if friends from across the country can share movies and music. The latter seems unlikely due to licensing issues, but hey, we can hope, right?

The price seems prohibitively high, but the experience appears to be incredibly high quality. So, what do you think? Is it sexy enough to justify the price? Or are you going to wait until the price drops?

Source: Play Store