Epic Games, the publisher of the popular Fortnite video game for PCs and handheld electronics, has announced a $2 billion funding round. They plan to advance this company's vision, making its mark on the Metaverse platform. The deal is still subject to normal ratification regulations, but it would bring Epic's equity value to $31.5 billion.
The funding round includes a $1 billion investment from current investor Sony Group and $1 billion from KIRKBI, lego's corporation. Sony, the company behind the PlayStation handheld gaming device, also invested $200 million in Epic in April 2021.
According to a statement, the three partners will combine expertise and technology to influence the future of entertainment and video games. They will develop new virtual products and digital experiences in sports and games for fans.
Tim Sweeney, CEO and founder of Epic Games, stated that this investment will "create spaces where players can enjoy with friends, brands that can build creative and enriching experiences, creators can build a community and grow."
The funding round follows an announcement of a partnership between Epic and LEGO to make Metaverse "safe and fun for children and their families." They plan to give young children access to "the tools that make them brave innovators" in a positive and family-friendly digital space.
Epic Games also developed Unreal Engine, one of the largest game creation platforms, competing with Microsoft and Valve. Their latest update, Unreal Engine 5, accelerates the development of Play-to-earn NFT games ( play to make money – P2E).
In a series of partnerships with the gaming industry, Sony acquired developer Bungie, the studio behind halo and destiny, for $3.6 billion. The move comes after Microsoft acquired Activision Blizzard, the developer of Call of Duty and Candy Crush, for a whopping $69 billion.
