Starting July 31, 2014, Playstation Now will be in open beta for all Playstation 4 owners in the continental U.S. and Canada (Sorry Alaska and Hawaii). The beta will expand to the PS3 in September, and the Vita and Playstation TV by the end of the year. Sony's still working on bringing the service to Europe and Japan
For the uninitiated, Playstation Now will be Playstation's game streaming service that will let you play some of the PS3's greatest hits on your Playstation 4. Sony is currently testing out various rental periods and prices for the games- most games will be available between $2.99 (for short-term rentals) and $19.99 (for longer-term rentals). When the open beta starts, there will be over 100 titles available of just about every genre. As the beta progresses, the PS Now library will continue expanding, and more features will be added- as betas are wont to do.