Epic Games, creator of popular online game Fortnite and powerful Unreal game engine, has been at the forefront of metaverse innovation for the past few years. An increasing number of brands, artists, sports, etc. have been setting up shop in immersive virtual worlds to more effectively engage with customers and fans.
With interest in the metaverse at an all-time high, Epic Games has received a new $1 billion investment from Sony Group, the parent company of Sony Music, as well as an additional $1 billion from LEGO’S parent company KIRKBI, as it continues to develop and grow its platform.
This is not the first investment that Sony has made in the game developer — back in 2020, Sony acquired a minority stake in Epic Games with a $250 million investment. In January 2021, Sony unveiled a new subsidiary called Sony Immersive Music Studios, which leverages Unreal Engine to create immersive music experiences.
The promise of the metaverse continues to generate big investment dollars from major companies, and fans can look forward to new ways to connect with other users and their favorite artists and brands in the near future.
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation, in a statement. “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”
Epic Games CEO and Founder added, “As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI. 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 a community and thrive.”