ENTERTAINMENT RETAILER NEWS
Epic Games receives $2bn to build metaverse vision
19 April, 2022 | by Natalie Fresen
Sony and KIRKBI, the company behind The LEGO Group, are teaming up to fund Epic Games’ new venture focused on the metaverse.
According to Epic Games, the idea of a metaverse is not just hype. The gaming studio wants to create new experiences based on its already popular games and new projects. Epic Games says that such major funding round aims to “advance the company’s vision to build the metaverse and support its continued growth.”
Thanks to this new investment, the company behind Fortnite achieved a valuation of $32 billion, allowing it to delve deeper into this new business model. The executive responsibilities remain the same, and Tim Sweeney remains as the company’s CEO.
Epic Games is also popular for being the studio behind Unreal engine, which is the bread and butter of many video game developers, fiilmmakers and content creators. It offers multiple tools such as physics/lightning simulations, video editing, and animation rendering, among many other advantages.
Niels B Christiansen, CEO of The LEGO Group, said that children develop abilities like “creativity, collaboration, and communication through digital experiences thanks to both physical and digital games.” The corporation believes its team has a duty to create inspiring and beneficial content for all of society, helping children put their abilities to good use.
“We have a responsibility to make them (video games) safe, inspiring and beneficial for all. Just as we’ve protected children’s rights to safe physical play for generations, we are committed to doing the same for digital play. We look forward to working with Epic Games to shape this exciting and playful future.”
Tim Sweeney, CEO & Founder of Epic Games, emphasized that LEGO has “captivated the imaginations of kids and adults” for so many years, adding that building a metaverse with them will be “fun, entertaining, and made for kids and families.”