Epic Games metaverse investment is getting bigger. Epic Games announced a $2 billion investment round. According to Epic, this money will be used to “to continue the development of the metaverse and support its continued growth,”.
Sony and KIRKBI provided the capital. KIRKBI is an investment group run by the Kristiansen family that created the Lego Group.
Epic has done this through platforms like Fortnite and Unreal Engine. The metaverse concept even made an appearance in the Epic v. Apple trial last year. On the other hand, Sony acquired Destiny developer Bungie in late July in a bid to make another big push into huge virtual worlds.
Epic Games metaverse investment is getting bigger
Epic CEO Tim Sweeny 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,” a statement.
In a press release, Sony Group Corporation’s Kenichiro Yoshida 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 developing new digital fan experiences in sports and our virtual production initiatives.”
CEO of Søren Thorup Sørensen 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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Sony and KIRKBI invested $1 billion into the project
Epic and Lego announced a partnership last week to build a family-friendly take on the metaverse. Both Sony and KIRKBI invested $1 billion in the most recent funding round.
Epic’s post-money equity valuation had now risen to $31.5 billion, up considerably from last April, when the firm raised $1 billion in new funding round at a $28.7 billion valuation. We should also remind you that the new Sony-Kirkbi investment is subject to standard closing conditions, including regulatory approvals.
