A couple of weeks ago, Microsoft renamed SkyDrive to OneDrive after losing a trademark dispute with British Sky Broadcasting Group over the "Sky" name. Although OneDrive is yet to make its debut, it looks like the service will provide some added features compared to SkyDrive. According to a LiveSlide report, Microsoft's cloud storage service will offer folder sharing, as well as 8GB bonus free storage for referrals and syncing your mobile device's camera roll to the service.

For every friend you invite and actually joins OneDrive, both you and your friend will get an extra 500 MB of storage, up to a maximum of 5GB free storage or 10 friends. Another 3GB free storage can be earned by syncing photos from your camera roll to OneDrive using the OneDrive app for iOS, Android, or the built-in Windows Phone function.

The bonus 8GB free storage does not expire, and would be in addition to the 7GB free storage (25GB for those who were one of the early SkyDrive adopters) that every new user gets.

OneDrive will also let you share folders. Dubbed 'co-owned folders', the feature would let you add, edit, and delete files, and invite people to a folder. Co-owned folders work just like any other personal folders within OneDrive, and you can sync them with any of your devices – no offline access to shared content was one of the biggest limitations of SkyDrive over the past few years.