Epic announces $2 billion in funding for its metaverse efforts

Epic’s plans to build a metaverse just got a huge cash injection: today the Fortnite developer announced a $2 billion round of funding, which it says will be used “to advance the company’s vision to build the metaverse and support continued growth.”

The money will come from Sony, which has previously invested in Epic, and KIRKBI, an investment group managed by the Kirk Kristiansen family, which founded the Lego Group. Last week, Epic and Lego announced a partnership to build a family-friendly take on the metaverse, albeit with few concrete details. According to a press release, both Sony and KIRKBI have invested $1 billion as part of the most recent funding round.

The vague metaverse concept has become a popular buzzword, and Epic is one of the biggest proponents of the idea of ​​a connected virtual world through platforms such as Fortnite and the Unreal Engine game creation toolset. (The metaverse concept even made a cameo last year Epic vs Apple trial.) Meanwhile, Sony previously took a big step into large virtual worlds when it was acquired Destiny developer Bungie earlier this year.

“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 community and thrive,” Epic CEO Tim Sweeney said in a statement.

At the moment, however, the metaverse mostly remains an idea in the minds of tech CEOs Fortnite Arguably stays closest to that vision through virtual events like concerts and a grab bag of pop culture connections, including everything from Marvel characters and professional athletes to, most recently, the late artist Jean-Michel Basquiat.


Leave a Reply

Your email address will not be published.