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April 14, 2022

Epic Games Gets $2 Billion to Create a Metaverse

Epic Games is most known for creating the blockbuster battle royale game Fortnite, in which 100 people compete against each other in a sandbox-like setting until only one remains. It is also the creator of the Unreal gaming engine.

Epic Games stated on Monday in a blog post that it has received money from Sony and KIRKBI Investments, the group behind the LEGO Group, to support its aim to create for the metaverse.

Just last week, the game business announced a collaboration with LEGO for this aim. According to Epic Games’ most recent statement, the firms involved intend to develop an experience that emphasizes the connection between the physical and digital worlds.

“As a creative entertainment firm, we are excited to invest in Epic to extend our partnership in the metaverse sphere, a space where creators and users share their time,” stated Sony Group Corporation CEO Kenichiro Yoshida. “We are also convinced that Epic’s capabilities, particularly their formidable game engine, paired with Sony’s technology can speed our numerous endeavors, such as the development of new digital fan experiences in sports and our virtual production initiatives,” Yoshida said of the investment.

According to the release, KIRKBI CEO Sren Thorup Srensen also stated that a percentage of their investments are focused on trends that they feel will effect the future world in which we and our children will live.

Tim Sweeney, CEO of Epic Games, stated that all parties involved have the same vision for the future of entertainment. Sweeney went on to say that the funding will hasten the building of a metaverse in which gamers could enjoy a joyful and engaging experience.

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Morgan Stanley predicted last year that the metaverse will be the next topic for a blockchain bull run. The prediction came less than a month after Facebook Meta rebranded to emphasize its new focus on building technologies around the ecosystem.

While Meta is not the first to propose the concept of a metaverse, its recent rebranding has drawn a lot of attention to the space. Fashion, video games, and even traditional finance have all taken note.