Sony's new PlayStation 4 update version 5.00, codenamed "NOBUNAGA," is available for download today, with a full feature rollout coming on October 5th. The update includes a wide array of new features and software improvements, including tweaks to PS4 Notifications, improvements to the Messages app and enhanced 1080p, 60FPS Twitch broadcasting for PS4 Pro owners.

While most of the update's features were unveiled in August prior to the 5.00 beta, today's PlayStation rollout announcement offered details on one feature we hadn't heard of before: Team Tournaments. This feature will allow players to join or start their own teams and compete with other teams for "prizes and status."

These teams will be comprised of one team founder and his or her captain(s) in management roles, with regular team members filling out the rest of the roster. According to Vice President of PlayStation Marketing Mary Yee, players will be able to join up to a maximum of 60 different teams - each of which will have its own custom team page that lists team member information, upcoming events and more.

To start with, the tournaments players can compete in will be limited to a few specific games: Uncharted 4: Thief's End, Uncharted: The Lost Legacy, Mantis Burn Racing and World of Tanks, but more will be added down the line.

Team Tournaments isn't the only new feature making its way to the PS4 in 5.00. The console's "Follow" function will now allow users to follow anybody they choose (rather than just "Verified Users") and the Messages app is getting new stickers, the ability to share tunes with your friends via PlayStation Music, and in-chat website previews whenever a link is posted. You can download the new firmware here.