Epic Games has just announced a $2 billion round of funding to ‘advance the company’s vision to build the metaverse’, including funding from both Sony Group Corporation and KIRKBI. The two companies have invested $1 billion apiece.
Sony is an already existing investor at Epic and will now be helping advance Epic’s metaverse vision as well as its continued growth. KIRKBI is the family-owned holding and investment company behind the LEGO Group. According to the press release by Epic, all three companies value both creators and players and aim to create ‘new social entertainment’ by exploring the connection between the digital and physical worlds.
Epic has been at the forefront of exploring metaverse-like opportunities, especially with regards to major events in-game in Fortnite.
Sony and KIRKBI Invest in Epic Games to Build the Metaverse
“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,” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation. “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.”
Epic, in the same press release, has also shared that the company’s post-money equity valuation right now is $31.5 billion. Fortnite, one of the publisher’s and platform holder’s most popular games, has demonstrated many times over the value of the metaverse but it remains a pretty hot button topic in the community.
Over time, the metaverse has garnered both acclaim as well as criticism from the tech and gaming community at large with many warning against the dangers of such a concept. But as it stands, it looks like Sony and KIRKBI are firmly behind the metaverse and its potential to create ‘new social entertainment’.
“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,” said Tim Sweeney, CEO and Founder, Epic Games.