Capcom have released update 3.0 for Monster Hunter World which brings the Elder Dragon, Kulve Taroth, to the game. While he is definitely the highlight of the update, Capcom have introduced plethora of other significant additions as well.
Update 3.0 is now available on both PS4 and Xbox One. Kulve Taroth is bearing a golden scale mantle. made of the relics he acquired through questionable means over the years. He can be encountered in a completely new area, named Caverns of El Dorado. No references to the golden city here, move along.
The Elder Dragon will actually be a time-limited event and the quest type to hunt it down will be called Siege. This quest will allow up to four teams of four players each, who will need to work together to bring down the colossal monster. It appears the "time-limited" format will work like in Fortnite and PUBG, since Capcom have announced the event will return in the future.
This update also brings new equipment that can be crafted, namely armour sets named Kulve Taroth α and β. As you can see in the screenshots, the sets are quite the bling as both the alpha and beta versions are shiny golden suits of armour. Palico can be treated to a golden suit of armour as well.
Many quality of life upgrades have also been added, such as sorting investigations in the Manage Investigations screen and selling all Trade-in items at once. Squad management has also seen some love, as an option was added so the players who have been inactive for 30 days or more aren't kicked automatically.
Capcom have also apologised for the lighting issues caused by the new poses that were added in 2.0, and have apparently fixed the issue. You will need about 1.2 GB of free space on either console in order to implement the update. Full patch notes can be found on the official Monster Hunter World web site.