Today Sony Interactive Entertainment officially announced a feature that many have been waiting for a long time: the ability to change your PSN nickname.

The PSN Online ID Change feature beta will initially become available in the PlayStation Preview Program, which includes select users that have participated in system software betas in the past.

The first change will be free. Every following change will cost $9.99 for regular PlayStation Network members, while PlayStation Plus members will get a discount and pay only $4.99. The pricing for Europe will be €9.99/£7.99 for regular PSN members, and €4.99/£3.99 for PlayStation Plus subscribers.

After changing your name, you have the option to also display your old name in order to let people recognize it. This is a one-time decision and once it's made, it's irreversible.

There is a catch in the fact that the name change is compatible with all games published after April 1st, 2018, and "a large majority of the most-played PS4 games that were released before this date."

Unfortunately, not all applications and games for PS4, PS3, and PS Vita are guaranteed to be compatible,  and "users may occasionally encounter issues or errors in certain games" after changing their name. If this is an issue, you can revert back to the original name for free at any time (but just once during the preview program). This should solve "most" issues.

That being said, when the feature officially launches, Sony will provide a full list of compatible games so you can plan ahead and weigh your options. The preview program is scheduled to end in November, with the feature officially rolling out in early 2019.

Just earlier today we heard that Sony Interactive Entertainment considers the creation of a new PlayStation console a “necessity”. It's unclear whether this new service is simply a response to years of requests from users, or a step in preparation for the launch of a new console down the line.