![]() ![]() ![]() Søren Thorup Sørensen of the Kirkbi investment group said the investment "will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse”. ![]() “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,” said Sony Group president and CEO Kenichiro Yoshida in a press release. Metaverse is being looked at as the next big frontier for tech companies. Facebook has already gone all-out and bet big on a connected virtual future, even changing its to Meta.Īlso Read: Epic Games buys out online music store Bandcamp Players can attend these events with others from around the world. The popular free-to-play game regularly hosts online events like music concerts which happen in-game. Of the three companies, Epic already has done something similar with Fortnite. The metaverse is an immersive 3D version of the internet tipped to transform online interactions, with vast number of users sharing one seamless world. So far, metaverse hasn’t moved much beyond VR avatars in a digital space. The funding 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,” said Sweeny in a press release. The goal is to create a new social entertainment platform that explores the connection between "digital and physical worlds, it saidĪlso Read: CD Projekt RED announces partnership with Epic Games, next Witcher game to use Unreal Engine 5Įpic said it would continue to have a single class of common stock outstanding and controlled by CEO and founder Tim Sweeny. The deal with KIRKBI was foreshadowed last week, when Lego and Epic announced plans to create an “immersive, creatively inspiring and engaging digital experience” for kids and families.Epic Games has raised $2 billion in funding from Sony Group Corporation and Kirkbi, the holding and investment company of the Lego group, the Fortnite franchise creator has said.īoth Sony and Kirkbi invested $1 billion each and the funds would be used to "build the metaverse and support its continued growth ", Epic Games said on April 11. “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.” “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.” said Kenichiro Yoshida, chairman, president and CEO of Sony Group Corp., in a statement. In trial, a judge ruled that Apple was ok to charge a commission, but found that the tech giant’s anti-steering rule (which said that companies like Epic couldn’t direct users to their website to pay for a subscription or content) was inappropriate. The gaming company argued that Apple’s 30 percent cut of purchases was monopolistic. The company has also been on the hunt for acquisition, most recently the music and artist community platform Bandcamp, just last month.īut it has also faced public scrutiny, driven by its antitrust lawsuit against Apple. “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,” said Sweeney in announcing the deal.Įpic has seen record-smashing growth in recent years, driven by Fortnite and the continued expansion of Unreal. Epic Games, best known at the moment for its blockbuster Fortnite battle royale shooter franchise, received a pair of 1 billion investments from Sony Group and KIRKBI, the parent company.
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