Sony is wise to back Epic, and the fact that a seasoned investor like Kirkbi is also joining the investment board means that there’s a strong belief in the prospects of this company to deliver a world-class metaverse product. After the latest investment, Sony’s total investment in Epic now stands at $1.45 billion. The billion-dollar investment by Sony wasn’t the company’s first investment in Epic in July 2020, the company invested $250 million, and in April 2021, Sony followed up with a $200 million investment in the company. When we talk about gaming consoles worldwide, it’s a two-horse race between Microsoft’s X-box and Sony’s PlayStation, so these two entities are used to competing with each other.
Sony x Epic: Match made in heavenĪfter Microsoft’s acquisition, it was only a matter of time until Sony had to make a significant move. The investment by Sony was expected after Microsoft, one of the most prominent players in the gaming industry, acquired Activision Blizzard for $75 billion a couple of months ago. Tim Sweeney, the Founder and CEO of Epic Games, shared the following concerning the latest funding round, “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 announcement comes after Lego and Epic announced during the first week of April that both parties had entered into a” long-term partnership” to create a metaverse for children. $2 billion is a significant amount of money, and the deal values Epic at $31.5 billion, and as part of the deal, Kirkbi will own 3% of Epic while Sony will own 4.9% of the company. Kirkbi is the company behind the Lego franchise, while Sony is a globally recognizable technology brand. Recently, Epic Games finalized a fresh round of funding to enable it to build new products and offer new services.Įpic Games is headquartered in North Carolina, USA, and the company just got $1 billion each from Kirkbi and Sony. Fortnite has generated billions of dollars and grown to become one of the most successful gaming franchises in history. The game has quickly become a global phenomenon, to the point that some games are now followed live by millions of viewers.Epic Games, the company behind Fortnite, recently secured $2 billion from Sony and the company behind Lego as companies race to build metaverse solutions Epic Games: Beyond FortniteĮpic Games is the company behind Fortnite, which is one of the most successful games in recent times.
#EPIC FORTNITE 2B SONY KIRKBI LEGO FREE#
With 350 million users worldwide, its Fortnite game is free to download, but generates billions in revenue with the purchase by players of additional items for their characters, including clothing.
The investment brings Epic Games' valuation to $31.5 billion, the US game studio said. "All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds," they added. Sony, already a shareholder in Epic Games, and Kirkbi, Lego's parent firm, are each investing $1 billion, the firms said. The $2 billion (1.84 billion euros) in funding 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. 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.
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