Epic Games raises $2 billion to build its metaverse
The funds came from Sony and KIRKBI
On Monday, Fortnite creators Epic Games announced it had raised $2 billion to fuel its family-friendly metaverse.
Sony has invested $1 billion in the company, while KIRKBI, the Kirk Kristiansen family's investment company behind the Lego Group, has invested an equal amount. The deal, which is subject to customary closing conditions, will value Epic at $31.5 billion.
The newly raised funds will be used to “advance the company’s vision to build the metaverse and support its continued growth”. Just last week, Epic Games announced its long-term partnership with the Lego group to shape the future of the metaverse to make it safe and fun for children and families.
“As we reimagine the future of entertainment and play, we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI,” said Tim Sweeney, CEO, and Founder, of Epic Games. “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.”
Epic Games has been interested in the metaverse for over three years, first experimenting with the concept through its most popular game, Fortnite, by hosting several virtual concerts featuring artists like Marshmello, Ariana Grande, and Travis Scott.
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