Sony and Lego funded Epic Games: Epic has received funding from two distinct companies, each of which recognizes the company’s desire to develop new technologies. The announcement comes just after Epic and Lego announced their partnership to step up into the metaverse.
The money is being invested in Epic games by Kirkbi, the parent company that owns The Lego, so this isn’t a direct investment in the metaverse initiative. In addition to the $250 million it invested in Epic Games in 2020, Sony has now tripled its interest in the company.
So far, Epic Games has remained tight-lipped about its ambitions. However, its metaverse commodity would be in direct competition with well-established decentralized options like Decentraland and The Sandbox, which have gathered hundreds of investors and well-known artists.
Sony and Lego funded $2 billion to Epic Games
Several gaming and tech titans, especially Facebook (now Meta) and Epic have been working on the metaverse projects, the idea of a virtual internet world, extensively in recent years. Sony and Lego, both the organizations funded the same amount of money in Epic games, a $1 billion investment, with the goal of assisting Epic in realizing the metaverse it has been talking about. According to speculations, this money will be used to further improve Epic’s assets in order to increase their market worth along with the main focus on Metaverse projects.
Epic Games revealed today that they have raised $2 billion funds from Sony and Lego to “further the company’s mission to develop the metaverse and promote its sustained expansion. “In an announcement, Kenichiro Yoshida, president, & CEO of Sony Group, stated, “As a creative entertainment firm, we are happy to invest in Epic to strengthen our partnership in the metaverse sphere, a space where creators and users share their time.”
“This investment will expedite our work to construct the metaverse and create areas where gamers can have time with people, brands can develop creative and engaging experiences, and producers can create a community and prosper,” CEO and founder of Epic Games Tim Sweeney stated.