With the same concept the GameCube has w/ private servers could the same process be applied on the ouya.
Just a thought since the ouya is more or less like an open source for developers to a point....(I figure if it were possible then PSO can be resurrected on the OUYA)
Yeah the same concept can work, but you have to remember, pso for dreamcast, gamecube ect ect is programmed for THAT specific hardware. If you dont have the source code or a bunch of time to write a wrapper that "converts" the calls to something the ouya understands then its a total waste of time and a pipedream...
SEGA were supposed to be bringing the latest PSO to Android, as well as iOS and Vita, outside of the PC version. If they up the support and still plan to publish then game in the west then it could come out naturally. Better start requesting ;)
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All this especially when SEGA could just deploy the same Phantasy Star Online 2 they're releasing for smartphones/tablets and add specific controls.
I don't know how it will compare, the game might be better but that's the only realistic hope for the series on Ouya in my opinion.