Epic Games, the company behind the famous PC and console game Fortnite, has announced a $2 billion investment round, with the hope of advancing the business’s vision of making its impact in the Metaverse. Epic’s stock value would rise to $31.5 billion after the merger, which is still subject to routine regulatory approval.
Sony Group Corporation and KIRKBI, the holding company behind the LEGO Group, both contributed $1 billion to this round.In April 2021, Sony, the maker of PlayStation systems, also invested $200 million in Epic. The three partners want to combine their abilities and technologies to create the future of entertainment and digital play by launching new virtual production projects and digital fan experiences in sports and gaming, according to a statement.
This investment will “create venues where players can have fun with friends, corporations can design unique and immersive experiences, and creators can develop a community and thrive,” according to Epic Games’ chief executive officer and founder Tim Sweeney.
Epic Games and the LEGO Group have teamed up to make the Metaverse “safe and enjoyable for kids and families.” They seek to build a positive, family-friendly digital environment in which children can use “technologies that will empower them to become confident creators.”
Epic Games also produced the Unreal Engine, which competes with Microsoft and Valve as one of the most popular game creation platforms. The most recent release of Unreal Engine 5 makes it easier to construct NFT-based play-to-earn (P2E) games.
Let’s see what footmarks Epic Games leaves in the Metaverse.
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