Fans are eagerly anticipating the release of Nintendo NX, which likely to have a March 2017 release date. Now, it is rumored that it will be unveiled on Oct. 21 and that the console will sport an NVIDIA Pascal Tegra chip.

It is speculated that the curtains will be lifted for the gaming console on Oct. 21. This date is a big one for Nintendo since it coincides with the fifth anniversary of Nintendo Direct, an event that unveils big and small titles to Nintendo fans. The company can also use this event for other big announcements, which is very appropriate for its upcoming device. It also serves as an E3 press conference alternative.

However, the event did not push through last year due to the passing of Satoru Iwata, the then company president, who also acted as the host of the said event in previous years.

Meanwhile, the Nintendo NX is believed to be using the NVIDIA Pascal Tegra processor which will make the console three to four times more powerful than the Wii U. It is also speculated that the NX will be able to support Unreal Engine 4 and other recent game engines, which will make PlayStation 4 and Xbox One games easier to port, WFFCTech reports.

The 4K upscaling and HDR support, similar to the Xbox One S, will not be features of the NX, though, since it is technically possible. New patents for additional features that were granted to Nintendo will not make it in time for the NX launch as well. The only technology that is possible for the console to use is its "hybrid" concept, the report added.

The Nintendo NX is a portable, handheld console with its own display, bookended with detachable controllers. The system can be placed back to its docking station or base unit, which is then connected to a bigger display screen for better gaming experience. It is also rumored to use cartridges instead of discs.

The Nintendo NX is expected to be released in March 2017.