The company noted that Epic, whose stock is privately held, remains controlled by Sweeney. Monday’s statement said Epic Games is now valued at $31.5 billion, up another $3 billion from last year’s buy-ins. Epic’s “metaverse” has largely taken place within Fortnite, where third-party marketers have regularly collaborated on themed skins and other virtual items, or staged virtual events like trailer premieres or concerts.Įpic chief executive and founder Tim Sweeney said in the same statement that “this investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences, and creators can build a community and thrive.” The investment and the executives’ statements all align with Epic’s broader strategy of defining and administering the “metaverse,” a concept that Facebook, Microsoft, and others have latched onto over the past four years. Epic Games launched Unreal Engine 5 one week ago.įor their part, Kirkbi’s chief executive Søren Thorup Sørensen noted “a proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in.” The $1 billion stake aligns with that mission, Sørensen said.įortnite is a social platform, and it’s borrowing Facebook’s best tricks “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts,” Kenichiro Yoshido, Sony’s chief executive, said in a statement provided by Epic. Sony’s investment triples its stake in Epic Games, on top of the $250 million it put into Epic in 2020 and the $200 million it added a year later. Kirkbi, which is the holding company that owns The Lego Group, is putting the money into Epic, so this is not a direct funding of that metaverse project. The company's post-money equity valuation is 31.5B USD. Something that could factor heavily into the metaverse expansion. Epic Games revealed Unreal Engine 5.0 last week. The news comes four days after Epic and Lego said they were teaming up to build a family-friendly metaverse. Epic recently acquired several independent companies, including music streaming service Bandcamp and game developers Mediatonic and Harmonix. We'll see if Sony and LEGO can stomach Sweeney's views on whether software payment processors deserve 3% or 30% of a transaction.Sony and the company that controls Lego have both invested $1 billion in Epic Games, the Fortnite maker announced on Monday. Zanim na komputerze wsidziesz do busa bojowego, musisz pobra program uruchamiajcy Epic Games i gr Fortnite. Sony and LEGO appear to desire access to Epic's gaming software expertise. Partnership with Sony and LEGO give Epic Games access to valuable intellectual property to draw users into its metaverse. Launching a metaverse is expensive and risky. Kenichiro Yoshida, Chairman, President, and CEO of Sony Group Corporation, said: "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." Søren Thorup Sørensen, CEO of KIRKBI explained his firm's metaverse investment: "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 announcement follows last week's announcement that Epic Games has partnered with LEGO to develop a metaverse for children. Sweeney's metaverse vision is closer to the general crypto vision than Meta's, but there's still no crypto tie-in necessary for Epic to profit. Epic allows crypto games to operate on their platform, while its main competitor, Steam, has banned them. Tim Sweeney, CEO of Epic Games, has long been a proponent of crypto. KIRKBI and Sony each invested $1B at a $31.5B post-money equity valuation.Įpic Games owns the popular game Fortnite, which peaked a couple years ago but still had 80M users in January 2022, according to an article titled "Is Fortnite Dying?" Epic also makes game development suite Unreal Engine, which has ~15% market share. Game studio and software firm Epic Games announced it raised $2B from KIRKBI, LEGO's holding company, and Sony.
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