According to 505 Studios, Terraria version 1.2 is planned to be released for Xbox One. The set date, to date, is planned for, and I quote, "Later in 2014." The Playstation 4 version was shown at E3, but no news of the Xbox One version has been heard of. It is said to be cross-platform, and so you can play with other console players on the 360 and PS3/PS Vita, but so far, 505 is keeping all doors locked and everything tucked neatly away. If anyone else has information about the new release of Terraria on the next-gen consoles, please add it, or tell me and I will edit this post so people can stay updated! Personally, I'm very excited for the new release as I find Terraria much more enjoyable than Minecraft.