Many gamers remain skeptical of NFTs and other metaverse-adjacent technologies that are seen as money-makers for developers but currently add little value for gamers. Game developers have walked a cautious line in describing their visions for the metaverse.

And, in another sign of broadening ambitions, Epic Games acquired music marketplace Bandcamp in March.

Sony, which has invested in Epic before, plans to leverage the company's game engine to create virtual sporting events and other experiences.Įpic and Lego also recently partnered to build digital experiences aimed at children, illustrating a metaverse that would be more focused on creativity and play than traditional gaming. The new investment supports Epic's efforts to build 'social entertainment' experiences-not just games-for adults and children, in coordination with strategic partners. By Tatiana Walk-Morris Dive Brief: After a 1 billion funding round last year, Fortnite creator Epic Games has raised 2 billion from Sony Group Corporation and Kirkbi, the investment. The latest funding round puts the Fortnite-maker’s post-money equity valuation at 31.5 billion. Kris Holt krisholt Ap12:33 PM Epic Games has received two big briefcases stuffed with cash which will help it 'advance the company’s vision to build the metaverse and support. A new announcement from Epic CEO Tim Sweeney revealed that the Lego Group's parent company, KIRKBI, and Sony are planning massive investments in the gaming giant. Epic rival Roblox's market capitalization has fallen more than 42% since its direct listing in March 2021, from $45.3 billion to $25.9 billion today. Epic Games has raised another 2 billion in its latest funding round to build the metaverse and support its continued growth. and Kirkbi, the family-owned company behind The. The gaming industry is also contending with less rapid growth than it saw during the early days of the pandemic. Epic Games, creators of the wildly popular video game Fortnite, just got a 2 billion investment from legacy entertainment giants Sony Group Corp. Late-stage valuations have come under pressure in recent months because of public stock declines. By Ryan Dinsdale Updated: 10:20 am Posted: 10:16 am Sony is investing a further 1 billion in Fortnite publisher Epic Games. Pursuant to the deal, Sony, and Kirkbi, the holding. The deal increased Epic's post-money valuation to $31.5 billion, indicating less than $1 billion in organic valuation growth since April 2021-a slower pace relative to the company's reported valuation growth in prior years. Sony (TYO: 6758) and The Lego Group are investing 2 billion in Fortnite maker Epic Games as part of a metaverse-driven initiative. Sony, already a shareholder in Epic Games, and Kirkbi, Lego’s parent firm, are each investing US$1 billion, the firms said.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. The US$2 billion investment by Sony and Lego is aimed at advancing Epic’s “vision to build the metaverse and support its continued growth,” the three firms said in a joint statement. In the form of video games like Epic’s hit Fortnite, the precursors of the metaverse already exist in a minimalist way, with people coming together not only to play, but also to interact and participate in events. The City of Fawn Creek is located in the State of Kansas. Scores of tech firms have been rushing to invest in building the metaverse, a loose term covering the growing eco-system of interactive online worlds, games and 3D meeting places that are already attracting millions of users. Japanese giant Sony and Lego’s Danish parent firm are investing big with the metaverse.īoth Sony and Lego have announced a US$2 billion investment in US gaming powerhouse Epic Games for its work toward joining the metaverse vision for the internet’s future.

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