Last year, a judge ruled that Apple can no longer prevent developers from directing users away from Apple's own payment system. The company has been at the center of a heated dispute between app developers and Apple over the latter's App Store fees.
The company developed Unreal Engine, one of the biggest platforms used to create games, and operates its own online games store which competes with Microsoft and Valve. While it's best known as the company behind Fortnite, Epic Games is a video game powerhouse. We have found this in our partnership with Sony and KIRKBI," Sweeney said in a statement. "As we reimagine the future of entertainment and play we need partners who share our vision. The deal increased Epic's post-money valuation to 31. Roblox, meanwhile, wants to build a metaverse where millions of people can gather to play games or even work in a virtual economy fueled by Robux, its own in-app currency.Įpic Games CEO Tim Sweeney said the fresh funds would help the company "accelerate our work to build the metaverse." Epic Games has raised 2 billion from Lego owner Kirkbi Invest and Sony as the trio eyes opportunities to build virtual experiences that will lay groundwork for the metaverse. Each party invested 1 billion USD, with funding going toward Epic Games’ goal of creating spaces where people can gather with friends and build community. But it's been branching out into other forms of entertainment, hosting music concerts from artists like Travis Scott and Marshmello, for example. epic games sony kirkbi lego metaverse fortnite unreal engine investment funding round 2 billion usd. Sony Group Corporation, alongside KIRKBI, the company behind The LEGO Group, has invested 2 billion USD in Epic Games‘ metaverse expansion. Personal Loans for 670 Credit Score or LowerĮpic's battle royale game Fortnite lets up to 100 players fight it out to be the last one standing.
Personal Loans for 580 Credit Score or Lower The company noted that Epic, whose stock is privately held, remains controlled by Sweeney.Best Debt Consolidation Loans for Bad Credit 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 news comes four days after Epic and Lego said they were teaming up to build a family-friendly metaverse. Sony and the company that controls Lego have both invested $1 billion in Epic Games, the Fortnite maker announced on Monday.
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