Epic Receives $2 Billion to Invest in Metaverse Development

Epic has received $2 billion from Sony and KIRKBI to help it invest in metaverse development, a major focus of game studios.

The metaverse is becoming an increasingly important area for the tech industry, and especially game studios, as companies races to stake their claim. Epic is already the creator of one of the most immersive, traditional games on the market, Fortnite. Sony and KIRKBI, the company behind the LEGO brand, obviously believe Epic is in a good position to capitalize on the metaverse, with each company investing $1 billion in the game-maker.

“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, 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.”

“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO, KIRKBI. “A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”

This latest investment brings Epic’s valuation to $31.5 billion, and should help position for the next evolution of immersive experiences.