This is a major breakthrough in the current PlayStation 3 jailbreak scene as according to Logic Sunrise, the PlayStation 3 official firmware 3.50 has been successfully jailbroken by Team X3 using X3 MAX PS3 jailbreak dongle. Previously, the only solution to enjoy homebrew applications for users on PS3 firmware 3.50 was to downgrade using PS3 Downgrader and get back to 3.41 firmware to jailbreak their PS3.
Now, after watching the video given at the end of this post, there are 2 big questions that arise at this moment:
1. Do games like Gran Turismo 5 (which requires firmware 3.50) work after this jailbreak?
2. Is this update compatible with current X3max dongle and if yes, is it free?
According to Logic Sunrise, we should have more information in a few hours, but according to their initial source feedback, it would be a free update with full X3 MAX compatibility. Until we have further confirmation, check out the embedded video below and watch the official 3.50 firmware jailbreak in action: