Epic Games, the creative force behind Fortnite, is actively making plans to leave their mark within the Metaverse. Recently, they announced a funding round valued at $2 billion which is set to increase Epic Game’s equity valuation to a staggering $31.5 billion. There are two driving forces behind this funding round; Sony and KIRKBI.
The deal is technically still subject to customary regulatory approvals, but this hasn’t stopped the Sony Group Corporation, the company behind the legendary Sony PlayStation consoles, from investing an incredible $1 billion into the deal. KIRKBI, the holding company responsible for the LEGO Group, invested a respectable $200 million into Epic Game’s Metaverse venture in April 2021.
According to a statement on the Epic Games Newsroom Twitter account @EpicNewsroom, the three corporations are invested in combining their expertise and individual technologies to develop new digital fan experiences and virtual production initiatives in the highly competitive spheres of gaming and sports. This high-stakes collaboration would dramatically influence the future of digital gaming and entertainment.
As stated by Tim Sweeney, chief executive officer and founder of Epic Games, this notable investment venture will serve to ‘create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.’
The massive capital raise follows hot on the heels of an announcement that the LEGO Group would partner with Epic Games to ensure that the Metaverse is ‘safe and fun for children and families.’ The corporations also share an intention to give children ‘access to tools that will empower them to become confident creators.’
Epic Games is also the creative force behind the Unreal Engine, one of the most widely used and successful platforms for creating AAA-title games, giving the likes of Microsoft and Valve a far more than worthy competition. The latest update of the Unreal Engine also aids in the development of new play-to-earn, or P2E, games that use an NFT-based currency system. This will likely have massive implications for the Metaverse as a whole down the line.
Seeing massive companies like these three powerhouses of modern entertainment coming together to try and create a collaborative gaming space within the virtual world that is still safe for people of all ages and inspires creativity within the minds of our society’s future generations is truly heartwarming. The hope is that more companies get involved or make their own strides toward the further development of the Metaverse to make sure it remains the fun, family-friendly virtual reality space that Meta intended it to be.
Epic Games’ Fortnite is an ever-changing landscape. Recently, building returned as one of the primary game modes, but an even more exciting recent development is that Fortnite’s Assassin’s Creed skins have finally been revealed! Are you ready to play Fortnite as one of your favorite Assassins?
