Tuesday, May 24, 2022

Epic Games – Sony Invests $1 Billion in Fortnite Devs

Epic Games is stepping up collaboration with its external partners, and money is following. In today’s statements the company announced that two investors – Sony Group Corporation and KIRKBI Holding (which includes the LEGO Group) – have each invested $1 billion in Epic Games.

The money is to be used to “build a metaverse” and “support the company’s continued growth.” Metaverse in this case may mean the recently announced joint project between Epic Games and LEGO, which aims to create a kid-friendly environment on the Internet. Although it is also possible that we will get another “metaverse” thanks to this investment.

The announcement quoted the heads of all three companies involved in this transaction. They assured of the desire to cooperate and work towards joint development in the field of digital entertainment:

“As a creative entertainment company, we are delighted to be investing in Epic Games to deepen our relationship in the metaverse, the space where creators and users share their time. We also believe that Epic’s expertise and powerful game engine [Unreal Engine – ed. note]combined with Sony’s technologies, will accelerate our various ventures, such as the development of new digital fan experiences in sports and virtual production initiatives,” said Kenichiro Yoshida, president of Sony Group Corporation

Tim Sweeney, CEO of Epic Games, also spoke in a similar vein. Unreal Engine 5, which had its release last week.

With the investment finalized, Epic Games is valued at $31.5 billion. In comparison, Activision Blizzard is currently worth $62.5 billion.

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