Epic Games Raises $2B To Build The Metaverse

Fortnite developer Epic Games has raised a stunning $2 billion from Sony Group and Kirkbi, the investment firm behind The Lego Group, to fund its efforts to build new experiences in the metaverse.

The three companies will work together to create new social entertainment avenues that will explore the connection between digital and physical worlds.

“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 of 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.”

The announcement comes just days after Epic Games and The Lego Group disclosed their plans to develop a Metaverse environment for children of all ages. The platform will enable Lego to tap into new opportunities in the metaverse without relying on existing platforms like Roblox and Decentraland that cater to an adult audience.

The investment round brings Epic Games’ post-money equity valuation to $31.5 billion. The funding is still subject to regulatory approvals and closing conditions.

Originally published at https://retailbum.com on April 13, 2022.