The company further said that the closing of the investment would be bound by customary closing conditions such as regulatory approvals. Epic Games was valued at $32 billion following the recent funding round. Epic Games is also the company behind Unreal Engine, which offers multiple tools to video game developers, content creators, and filmmakers. Sony has been deepening its reach in the metaverse space and acquired Destiny developer Bungie earlier this year. Kenichiro Yoshida, Chairman, President, and CEO of Sony Group Corporation, said, “We are confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives”. ![]() ![]() The big funding rounds will be significant in advancing the company’s vision to build the metaverse and support its continued growth. In April 2021, Epic Games had also raised $1 billion, including $200 million from Sony. Will the metaverse be decentralised like ‘The Sandbox’ and ‘The Decentraland’, which have attracted a huge number of players, investors, and famous artists, or will it be similar to the centralised concept behind Facebook’s Meta, is the question.Įpic Games confirmed that its metaverse would be based on the popular games and projects already released under its banner. Tim Sweeney, CEO and founder of Epic Games, said, “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences, and creators can build a community and thrive”.Įpic Games is yet to reveal more information about what kind of technology will be used to develop the metaverse. The April 11 announcement comes soon after Lego and Epic Games revealed a partnership to build a metaverse for kids. Sony and KIRKBI contributed $1 billion each to the funding round. The funds will be used to upholster Epic’s metaverse expansion plans. Last week, the company had announced their collaboration with Epic Games to create a child friendly metaverse space, and with their recent investment, LEGO will be looking to strengthen its hold in the digital play world.įollowing the closure of the latest round, the valuation of Epic Games has jumped to $31.5 billion, which makes it one of the most valuable video game developers in the world.Epic Games, the parent company behind the highly popular game Fortnite, has received $2 billion in funding from global entertainment giant Sony and investment company KIRKBI, which founded the Lego Group. ![]() This year however, the stakes have risen massively, as the Japanese company have chipped in around $1 billion.Īlong with that, KIRKBI, the family-owned holding and investment company behind The LEGO Group have also invested about a $1 billion too. Last year, during a $1 billion investment round, Sony had invested around $200 million, along with a $250 million investment back in 2020. This isn't the first time Sony has invested huge into Epic Games. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.” Also Read: Valorant Community Pays Heartfelt Tribute to Player Famous for His 'Revive Me, Jett' Line as He Tragically Passed AwayĪccording to Sweeney, the company is looking forward to speed up the development of the metaverse, which is shaping up to be the big thing of the future. In a statement released by Epic Games, the company confirmed that it will have a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.
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