Yesterday Epic Games announced a $2 billion (R29.1 billion) round of funding that will go towards its expansion of the metaverse.
The funding comes from Sony and KIRKBI, the family-owned holding and investment company behind the LEGO Group, which each invested $1 billion ($14.5 billion).
This announcement follows last week’s press release from Epic that it would be entering into a long-term partnership with LEGO to build a child-safe digital experience in the metaverse.
KIRKBI believes the metaverse is a trend that will significantly impact the future of parents and children alike.
KIRKBI CEO Søren Thorup Sørensen pointed out that its investment in Epic “will accelerate our engagement in the world of digital play”.
Sony’s latest investment in Epic Games only solidifies the already-existing partnership between the two companies, as Sony invested $200 million (R2.9 billion) in Epic Games in April of 2021.
Epic’s public release of Unreal Engine 5 last week likely plays a significant role in Sony’s investments, as it could be employed to develop the digital metaverse experiences that Epic has in mind.
“We are 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,” said Kenichiro Yoshida, Sony Group Corporation Chairman, President, and CEO.
According to Epic Games CEO Tim Sweeney, this investment will help the company “create spaces where players can have fun with friends, brands can build creative and immersive experiences, and creators can build a community and thrive.”
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