Microsoft may be getting ready to launch the Xbox 720 at an upcoming event ahead of the release of Sony's PlayStation 4.

Microsoft has reportedly purchased the torrent application Pando for $11 million and the company allegedly plans to unveil the console in June, according to a report by PixelEnemy.

The rumored released date came from a report from the Hebrew-language business magazine Calcalist that stated the purchase of Pando is attributed to the company's intentions to gain an advantage in sharing media files.

It appears that Microsoft is doing all it can to enhance its chances for a successful Xbox 720 launch against its competitor Sony for dominance on the console gaming market.

There is still no official launch date for the next-generation Xbox, but new test sites appeared online that are not real.

Some gamers were recently fooled as a string of beta test signups for the Xbox 720 are reportedly scams looking to gather personal information from users.

The news of the scam forced Microsoft's Director of Programming Larry Hryb to address the issue on Twitter.

"Confirmed: All sign-up pages for testing the 'next Xbox' are FAKE. Do not give them your information - it's a scam," the tweet warned on Wednesday.

Previously VG247 reported that gaming analysts suspected that Microsoft may unveil the Xbox 720 as soon as April.

If the latest rumor of a June launch is true it will likely mean that the game console will be one of the key displays at the upcoming E3 trade convention that will take place the same month in Los Angeles.

The rumored specs for the console include an 8 core CPU running at 1.6GHz, 8GB of RAM, 50GB Blu-ray disc drive and feature Gigabit Ethernet. The Xbox 720 is also expected to come with an 800 MHz graphics card that upgrades the system from the 500 MHZ card that is in the Xbox 360.