Sony have announced that the 1.7 firmware update for the PS4 is about to come in very soon and that it’s going to be a major one for the system, introducing at least one very important feature to the system.

That feature is called SHAREfactory, which will allow you to customize the gameplay videos that you have recorded while playing video games to your liking and then posting them on social network media with reasonable ease- or transfer it to a USB drive and watch it whenever and wherever you want, if that’s what you want to do.

“The 1.70 update will enable SHAREfactory, our new rich video editor app for PS4 that makes it easy for you to customize your gameplay videos,” says Scott McCarthy, Director, Product Planning & Software Innovation, SCEA, over at the PS Blog. “With SHAREfactory, you can now easily combine your captured video clips for editing, personalize them with special effects using filters, transitions, and themes, as well as share them with your friends and social networks.”

You can also add text, stickers, audio and more to your videos.

Another feature that the update will include is the ability to play games as soon as they’re released- it’s basically an extension of the download as you play functionality that was received so well amongst fans.

We also have the first screenshots [via DualShockers] of the updates in action. Check them out below and stay tuned for more info.