Epic Games Metaverse has received a total of $2 Billion of funds from both Sony and LEGO’s KIRKBI, as a step to “deepen their relationship”.
The ever-growing popularity of the metaverse world is hidden from none, with several big organizations creating their own metaverse projects. You may have heard of the “Metaverse” if you’ve spent any time on the Internet recently.
Any organization with the purpose of creating this 3D virtual environment/world can develop a metaverse. Each year, it appears like the scenes and stories of a.i., space travel, self-driving cars, and virtual worlds that we have seen in science fiction films are moving closer to becoming reality.
As a result, organizations take advantage of the metaverse’s concept and create their own project. Roblox, Microsoft, Nvidia, Epic Games, and Amazon are some of the corporations involved with the metaverse concept.
Epic Games’ CEO, Tim Sweeney, saw significant potential in a so-called metaverse and has been its largest evangelist for years. They announced in April that the total funding had surpassed $1 billion and Sony has committed more than $200 million in the Metaverse ideas, which is surprising.
Now, Epic Games has revealed that both Sony and LEGO’s KIRKBI have given them another $2 billion to fund their Epic Games Metaverse.
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Epic Games Metaverse receives $2 Billion of Fund from Sony and LEGO’s KIRKBI
Epic Games has received a new $2 billion investment to help fund its ambitious Epic Games metaverse-building endeavor. The funding is shared evenly between KIRKBI (The LEGO Group’s family-owned parent firm) and Sony in this round.
And it appears that both companies are strengthening their relationships with Epic Games.
Since July 2020, Sony has held a minority ownership in Epic Games, having invested a total of $450 million in Fortnite and Unreal Engine.
And then The LEGO Group recently announced a collaboration with Epic Games to create a kid-friendly version of the Epic Games metaverse project. In the newest capital round, KIRKBI, the holding, and investment firm behind The Lego Group, also invested $1 billion in Epic, with the goal of accelerating the companies’ objectives in the metaverse domain.
Epic Games still has a single class of common stock on the market, and CEO and creator Tim Sweeney retain control. The corporation is currently valued at $31.5 billion in post-money equity.
The official statement with regards to the recently received fund for Epic Games metaverse project read: “All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds. Epic continues to have only a single class of common stock outstanding and remains controlled by its CEO and Founder, Tim Sweeney.”
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Tim Sweeney – CEO and Founder of Epic Games said:
As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI. 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.
Adding to this, Kenichiro Yoshida – Chairman, President, and CEO of Sony Group Corporation stated:
As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time. We are also 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.
Søren Thorup Sørensen – CEO of KIRKBI further added:
Epic Games is known for building playful and creative experiences and empowering creators large and small. A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.
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Indeed the monetary value being invested in the Epic Games metaverse project is quite high, and with a $2 billion round of fundraising to help the firm realize its aim of building the metaverse and sustaining its development, it will actually be interesting to see the final outcome of the upcoming Epic Games metaverse.
We will update you with the new information, so keep following Gamevro.
