Epic Games is entering the metaverse with a $2 billion investment round led by Sony, the electronics juggernaut.
According to a recent news release, Sony officials invested $1 billion in the video game company, believing that their technology, along with Epic Games’ proprietary Unreal Engine, will offer them an advantage as they enter the metaverse.
The Unreal Engine is a high-end three-dimensional gaming engine for video games that is widely regarded as one of the world’s most powerful creation engines.
Kenichiro Yoshida, chairman, president, and CEO of Sony, stated:
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time. We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”
During the funding round, KIRKBI, the parent company of The LEGO Group, also contributed $1 billion.
Epic Games is best known for the immensely successful battle royale video game Fortnight and their flagship third-person shooter franchise Gears of War, which is valued at $32 billion.
Epic Games’ CEO and creator, Tim Sweeney, commented:
“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. 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.”