Sony and KIRKBI Invest $1 Billion in Epic Games Metaverse

Epic Games just announced a $2 billion funding round to “advance the company’s vision to build the metaverse,”including funding from Sony Group Corporation and KIRKBI. The two companies invested $1 billion each.

Sony is already an investor in Epic and will now help advance the vision of Epic’s metaverse as well as its continued growth. KIRKBI is the family holding and investment company behind the LEGO Group. According to an Epic press release, all three companies value both creators and players and are committed to creating “new social entertainment”by exploring the connection between the digital and physical worlds.

Epic has been at the forefront of exploring metaverse-like possibilities, especially with regards to major gaming events in Fortnite.

Sony and KIRKBI invest in Epic Games to create a metaverse

“As a creative entertainment company, we are thrilled to be investing in Epic to deepen our relationship in the metaverse, a space where creators and users share their time,” said Kenichiro Yoshida, Chairman, President and CEO of Sony Group Corporation. “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony technologies, will accelerate our various efforts such as developing new digital sports fan experiences and our virtual production initiatives.”

Epic, in the same press release, also revealed that the company’s post-cash equity valuation is currently $31.5 billion. One of the most popular games of the publisher and platform holder, Fortnite has demonstrated the value of the metaverse many times, but remains quite a hot topic in the community.

Over time, the metaverse has received both acclaim and criticism from the tech and gaming community at large, with many warning of the dangers of such a concept. But as it stands, it looks like Sony and KIRKBI are firmly committed to the metaverse and its potential to create “new social entertainment.”

“As we reimagine the future of entertainment and gaming, we need partners who share our vision. We found this in our partnership with Sony and KIRKBI,” said Tim Sweeney, CEO and founder of Epic Games.