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Sony: No restrictions on preowned PlayStation 4 games

Sony has confirmed in its E3 press conference that there will be no restrictions on preowned games for the PlayStation 4, and no online authentication for single-player games.
Closing the press conference for Sony's PlayStation 4, Jack Tretton officially confirmed that there would be "no restrictions" on preowned games. PlayStation 4 users will be able to sell, trade in, loan and keep games forever. Tretton further confirmed disc-based games don't require an online connection, and there would be no online authentication process for single-player games. "And it won't stop working if you haven't authenticated within twenty-four hours," Tretton added, in a direct rebuff toward Microsoft's Xbox One model. However, PlayStation Plus would be required for multiplayer games. On the subject of PlayStation Plus, Tretton confirmed that Plus memberships would carry over to PlayStation 4. Users' PlayStation 3 libraries, by contrast, would presumably be accessible by Sony's cloud streaming service, beginning in 2014 in the US. Here was the reaction from the audience, at the moment of the announcement:

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