Epic Games Raises $2 Billion to Build “The Metaverse” Backed by Sony and LEGO -Breaking
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Epic Games Raises $2 Billion to Build “The Metaverse” Backed by Sony and LEGOEpic Games, the creators of popular video game ‘Fortnite‘, announced a $2 billion round of funding to build and support the continued growth of “The Metaverse.”
Epic Games is also behind Unreal Engine. They revealed that legacy entertainment companies backed the financing round. Sony (NYSE:) Group Corp and KIRKBI, the Lego Group’s parent company.
Sony and KIRKBI back $2 billion Metaverse Project
As per the press release, both Kirkbi and Sony, the makers of popular entertainment system, the PlayStation, each invested $1 billion into Epic Games to further “the development of new digital fan experiences” and the “metaverse.”
In a statement, the founder and CEO of Epic Games, Tim Sweeney, said, “this investment will accelerate our work to build the metaverse and create spaces in which players can have fun with friends.”
Sweeney says that Epic Games Metaverse will enable brands and creators build communities to create immersive and creative experiences.
Epic Games – $31.5 Billion Value
Epic Games’ valuation has increased to $31.5 billion due to these new investments. The $2 billion raised will help the gaming giants to delve deeper into the new business model, “The Metaverse.”
Tim Sweeney revealed further that Epic Games also has partnerships with KIRKBI, Sony, and KIRKBI.
The Flipside
- Epic Games is yet to disclose any information about its Metaverse Project, despite many people expecting them. Compete with the establishedDecentralized options
What You Need to Care About
Legacy entertainment giants have invested $2 billion in the metaverse to ensure that there is a place for the gamer’s future.
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