Epic Games, the company responsible for Fortnite and for Unreal Engine, received a new round of billion-dollar investments from Sony and KIRKBI, the parent company behind the LEGO Group. The total funding, according to the company, is US$ 2 billion divided equally between the parties and is intended to “advance its vision of the metaverse and support its continued growth.”
“As a creative entertainment company, we are excited to invest in Epic to deepen our relationship in the field of the metaverse, a space where creators and users share their time”said Kenichiro Yoshida, president and CEO of Sony Group Corporation.
Yoshida further stated that Sony relies on Epic’s expertise, including its newly released graphics engine. It is worth remembering that PlayStation Studios, which includes Sony’s first-party studios, was confirmed as one of the dozens of developers that are currently working with Unreal Engine 5.
Epic Games reveals studios that are already working with Unreal Engine 5, including PlayStation and Xbox.Source: Disclosure / Epic Games
“Combined with Sony’s technologies, [a expertise da Epic] will accelerate our many efforts, such as the development of a new digital experience for sports fans and our virtual production initiatives”he added.
Earlier, Epic Games had already received a financial contribution of 450 million dollars from Sony – with US$ 250 million injected in July 2020 and another US$ 200 million in April of last year. This new investment still depends on regulatory approvals, however.
KIRKBI CEO Søren Thorup Sørensen also commented on the reasons behind the investment, which is a bet on “trends that will impact the future”. He added that Epic Games is known for creating “fun and creative experiences and empowering creators of all sizes.”
Tim Sweeney, CEO and founder of Epic Games, said that this investment “will accelerate the company’s 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 community and thrive”.