Following the release of "Star Fox" in 1993, series creator Shigeru Miyamoto began working on a sequel entitled "Star Fox 2" that would have been released for the Super Nintendo Entertainment System (SNES). By 1995, Miyamoto and team had largely finished development of "Star Fox 2" before realizing that its release would require the use of an additional "chip—the Super FX 2 with double memory", which would increase the cost of the game. Furthermore, newly launched rival consoles, such as the Sega Saturn and the Sony PlayStation, possessed processing power and graphics capabilities that dwarfed those of the SNES, making the planned graphics for "Star Fox 2" appear obsolete. Recognizing that the Nintendo 64 would launch the following year with significantly increased processing power and graphical capabilities, Miyamoto made the decision to cancel "Star Fox 2" in favor of developing a new "Star Fox" game for the Nintendo 64.