Games

Sony is investing $1 billion in Epic Games to power the Metaverse

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Epic Games has announced that it will receive $2 billion in funding from both Sony and Kirkbithe holding and investment company The Lego Group.

Announced on the Epic Games Blog, the Fourteen days and Unreal Engine developers revealed that Sony and Kirkbi would each invest $1 billion in the company. In the post, Epic Games wrote that the three companies “aim to create new social entertainment that explores the connection between the digital and physical worlds.”

Additionally, Sony CEO Kenichiro Yoshida said, “As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the Metaverse space, 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 diverse efforts such as the development of new digital fan experiences in esports and our virtual production initiatives.”

Søren Thorup Sørensen, CEO of Kirkbi, also issued a statement: “Some of our investments are focused on trends that we believe will impact the future world in which we and our children will live. This investment will further our commitment to the digital gaming world and we are excited to invest in Epic Games to support their continued growth trajectory with a long-term focus on the future metaverse.”

The investment has not yet been made, Epic Games notes, as it is “subject to customary closing conditions, including regulatory approvals.”

This follows the recent announcement that Epic Games and Lego have entered into a partnership in which they plan to “shape the future of the metaverse.” It seems like Epic really has the metaverse on their mind considering that was the main focus of the Lego partnership announcement as well as this Sony and Kirkbi investment.

While not a full acquisition, this is Sony’s next major investment following its recent acquisition of oasisin a year full of big steps by big companies.

https://www.vg247.com/sony-is-investing-1billion-into-epic-games-to-further-the-metaverse Sony is investing $1 billion in Epic Games to power the Metaverse

Fry Electronics Team

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