April 12 (IANS) Epic, developer of the popular game Fortnite, announced it has secured $2 billion in funding from Sony and KIRKBI, the family investment firm that founded the LEGO Group.
The funding will be used to further Epic's dream of building the Metaverse. Sony and KIRKBI each invested $1 billion in Epic.
"This investment will accelerate our work to build out the metaverse and create spaces where gamers can have fun with friends and brands can build creative and An immersive experience where creators can build communities and thrive."
Epic's post-money equity valuation is now $31.5 billion.
Kenichiro Yoshida, chairman, president and CEO of Sony Group Corporation, said Epic's expertise, including its powerful game engine, along with Sony's technology, "will accelerate our various efforts, such as developing new digital fan experiences in sports." and our virtual production initiative."
Epic Games is known for creating fun and creative experiences and empowering creators big and small.
"Part of our investments are focused on trends that we believe will impact the future world we and our children will live in," said KIRKBI CEO Soren Thorup Sorensen.
Completion of the investment is subject to customary closing conditions, including regulatory approvals, the company said.
Sony recently made a big move into the virtual world when it acquired Destiny developer Bungie this year.
Source: Metaverse Matrix