ColecoVision creators are working on a new cartridge-based console

Back in 1982 Coleco brought the ColecoVision console to family rooms, the console was mildly successful at best which lead Coleco into financial crisis in the late '80s. Fast forward to 2005 and Coleco reformed to bring cartridge-based consoles back, starting with the Coleco Chameleon.

According to Coleco, the console will be releasing sometime in 2016 with two features; the Chameleon will "accurately play compilations of favorite games from the past" and "play brand-new games in the 8, 16, and 32-bit styles." 

Whether or not the Chameleon will be able to play classic Coleco titles is unclear.

Essentially, the Chameleon is a new name for the Retro VGS, which was a similar console that failed its crowd funding attempt earlier this year. The Chameleon will boast no "lengthy updates," but it's unclear if it will require an internet connection. The Retro VGS didn't require an internet connection, so there's a chance that Coleco is modeling the Chameleon after that.

Caleco plans on attempting to crowdfund the console on Kickstarter and showing it off during the New York Toy Fair in February 2016.

[Retro Gamer]