LEGO and Sony invested $2B in Fortnite creator Epic Games’ Metaverse project
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Fortnite is one of the most ambitious crossover projects with many famous characters. Seems like Epic Games eyes an opportunity to expand on its ambition in the Metaverse.
Epic Games has announced that it received $2 billion in funding from Sony and KIRKBI – the owner of toy giant LEGO. Both companies have invested $1 billion each in the initiative Epic Games describes as “building the Metaverse”.
It is currently unclear what the game developer is up to. Epic Games CEO Tim Sweeney said:
“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.”
Post-money evaluation of Epic Games has climbed to $31.5 billion. The company led by Tim Sweeney remains private with no plans of going public in the nearest future.
It is not the first time Sony has invested in Epic Games’ Metaverse project. Just a year ago Japanese tech and entertainment giant has participated in a $1 billion funding round. Sony invested $200 million at that time.
LEGO, however, is a new player in the field. The Danish toymaker first announced its plans to develop Metaverse projects in partnership with Epic Games last week.
Looks like the Metaverse is gaining steam, the biggest players in the industry are developing their own projects. But is it going to be the 'next big thing'? Let me know what you think.
Source: Epic Games
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