Why it matters: Microsoft owns one of the hottest IPs in gaming and based on a recent teaser, the company is looking to further maximize its investment with a mobile-based augmented reality version. Pokémon Go proved consumers' appetite for AR gaming and Microsoft could be poised to take the craze to a new level.

Microsoft at the conclusion of its Build 2019 keynote on Monday shared a teaser video for what appears to be an augmented reality version of Minecraft.

In the teaser, Minecraft Creative Director Saxs Persson accidentally leaves his phone on a bench outside the Washington State Convention Center in Seattle where the Build conference is taking place. When his bench mate reaches for her phone, she finds Persson’s device instead and discovers the Minecraft AR app running.

We’re shown a brief glimpse of the app in action but will have to wait until next week to learn more.

Microsoft is hosting a 10th anniversary bash for Minecraft on May 17 to celebrate the “past, present and exciting future of the decade-old franchise.” It’s safe to assume that this new app could very well be the centerpiece of Microsoft’s event.

If there’s any question as to whether or not a Minecraft AR game could be a hit, one only needs to look back a few years to the staggering success of Pokémon Go. Launched in the summer of 2016, the augmented reality game from Niantic became a cultural phenomenon that is still going strong. As of this past December, the game had generated more than $3 billion in revenue.