Epic Games has shared a first look at its new gaming engine, Unreal Engine 5. The on-hand footage highlights the capabilities of UE5, also teasing the gameplay potential of Sony's PlayStation 5.

"The next-gen consoles are going to give consumers a quantum leap, and UE5 is another leap on top of that,” Epic’s chief technology officer, Kim Libreri, told The Verge. He also went on to add that developers will be able to deliver unrivaled visuals in full studio titles using next-generation consoles and Unreal Engine 5.

Epic Games' UE5 demo runs on a developer version of PS5 hardware. As The Verge points out, the footage truly showcases detailed visual quality and photo-realistic lighting that Unreal Engine 5 will deliver.

UE5 will also help developers create games that feature the same quality whether they're played on a smartphone or a top-dollar gaming PC.

“You can build a high-end console game and it can look fantastic and you can also make it work on smartphones, and you can build an audience far bigger than just the hardcore gaming audience by shipping it on more platforms. The technology can enable that and make it more productive,” said Epic Games CEO Tim Sweeney.

Unreal Engine 5 is scheduled to launch in late 2021, supporting next-generation consoles, current-generation consoles, PC, Mac, iOS, and Android. You can learn more about the capabilities of the gaming engine by pressing play below, then heading on over to The Verge.