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If I've downloaded games both on PS4 and PS3, and they're linked with my account, does that mean they're playable on both platforms? (as long as that game is available on that specific console)
Eg. I downloaded Alien: Isolation on PS4. Can I play it on PS3 if there's a version of it for the PS3?
I believe there are three terms which may describe what you're asking.
Cross Buy is the term used for a game which you can buy on one platform and receive the same game on another platform for free.
Cross Play is a term used for games which allow you to play with people on another platform.
Cross Save is a term used to describe the ability to move game saves from one platform to another and load the transferred save.
As for your example, I don't believe Alien Isolation fits any of these category.
PlayStation Trophies has a fairly decent list of Cross Buy/Play/Save Games if you want some examples of these terms.
I think you're asking if you can play a game on your PS3 while it still being downloaded on your PS4 which if that is the question, yes. You should be able to play it while it's on both consoles.
