Months pass but interest in the metaverse does not seem to wane. epic gamesthe studio that created fortnite, closed a millionaire funding round to expand and accelerate its intentions in virtual life. For this, he received the support of sony Yes The LEGO Groupwho together paid no less than $2 billion.
According to the Americans, this figure will be used “to advance the company’s vision to build the metaverse and to support its continued growth”. And beyond the relentless amount of money it’s been getting from its investors, Epic Games won’t see any changes in behavior; Tim Sweeney, founder and current CEO, will retain control of the company.
sony Yes KIRKBIthe Danish company that controls the LEGO Group, will pay out $1 trillion eachEpic Games explained this in their announcement. According to Sweeney himself, the investment “will create spaces where gamers can have fun with friends, brands can create creative and immersive experiences, and creators can build community and thrive.”
that the developers of fortnite and Unreal Engine added that the two companies’ interest in the Metaverse comes as no surprise. In fact, Sony has already made previous investments in the said company, becoming a shareholder after allocating $450 million between 2020 and 2021.
The LEGO Company, for its part, has confirmed a recent alliance with Epic Games to create a metaverse for kids. The two companies “will combine their vast experience to ensure that this next iteration of the internet is designed from the start with the well-being of children in mind”.
The Epic Games Metaverse is guaranteed big name support
As we’ve said on other occasions, we’ve heard about the metaverse practically ad nauseam. And since there is still no clear definition of what these projects entail (or mean) to bring virtuality to life, companies are usually quite vague in their thinking. It is also true that there are already several projects that exploit this problem and some, in fact, are extremely lucrative; however, not every company has been able to come to market with something too innovative.
What Epic Games seems to have for success in the Metaverse isn’t just millions of dollars from Sony and LEGO. The popularity of fortnite would play a key role in developing their vision, and as a result, they would aim to significantly increase their player base. Also, the game would no longer be considered as such become an “experience”; and Unreal Engine would also play a transcendental role in it, both for what its creators offer and in third-party initiatives.
In 2021, Tim Sweeney said the metaverse could become the engine of the global economy. He even said that would be able to generate “several trillions of dollars”, and that the next few years would be crucial for companies that want to take the lead. And in addition, he assured that whoever will reach the first one billion users in the virtual world will be able to establish the standards of the platform.
We’ll see if Epic Games’ plans for the metaverse really pay off. The truth is, having Sony and the LEGO Group on your side seems to give your proposition more legitimacy against the competition. And this also gives it an interesting boost in the financial order, since the American company has reached a valuation of $31.5 billion.
I am Bhumi Shah, a highly skilled digital marketer with over 11 years of experience in digital marketing and content writing in the tech industry.