The latter might not seem like a big deal, but it's a real treat. The exporter will convert a CKII savegame file into a EUIV one, allowing players to keep their empire and their holdings, and experience the Renaissance altered by the centuries of medieval intrigue and conquest that played out in their game of Crusader Kings.
To show how the exporter will work, Paradox is showcasing the feature in a livestream right now on their Twitch channel. Handy.
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destructoid's previous coverage: Europa Universalis IV