Sony, together with The LEGO Group holdings company KIRKBI, are each investing $1 billion into Epic Games to help forge their metaverse. This comes in light of LEGO also teaming up with Epic to help create a kid-friendly metaverse. Sony has already invested over $450 million into the Fortnite studio over the years.
Sony Group recently announced their $1 billion investment in Epic Games, largely to focus on building their proposed metaverse. KIRKBI will also invest an equal amount of $1 billion, looking to strengthen their relationships and help accelerate the technologies necessary to make this metaverse happen.
Sony Group CEO Kenichiro Yoshida said in a statement:
“We are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time. 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.”
KIRKBI CEO Søren Thorup Sørensen added:
“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.”
With the $2 billion investment from both companies, Epic Games said it is now worth $31.5 billion. Apart from Fortnite which still regularly brings in massive revenue for the company, Epic’s other business ventures – including the Epic Games Store and their new Unreal Engine 5 technology – gives them firm footing in the industry.
Source: Epic Games