The OUYA is an Android based box with a controller. It is supposed to be a game console but because it is Android based I think it will be much more. I think it will be an Apple TV/Boxee Box competitor with a bit more functionality. The device is designed by Yves Behar, The guy who designed the Jawbone Jambox.
When I first stumbled on the project had $300,000 and all purchasing options were available, I thought to myself that I’ll do it the morning of the next day. To my surprise, the next day news about the OUYA was all over the internet. The project had over 2 million dollars (approaching 5 millions at the moment) and all but one purchasing options are gone.
The specs of the device are:
Tegra 3 quad-core processor
8GB of internal flash storage
HDMI connection to the TV, with support for up to 1080p HD
WiFi 802.11 b/g/n
Bluetooth LE 4.0 USB 2.0 (one)
Wireless controller with standard controls (two analog sticks, d-pad, eight action buttons, a system button), a touchpad
The OUYA is scheduled for release in March 2013.