Game developers have walked a cautious line in describing their visions for the metaverse. Developers at Epic Games and the new collections Among the latest news, Epic Games talk about the money they have obtained from companies such as Kirkbi and Sony. And, in another sign of broadening ambitions, Epic Games acquired music marketplace Bandcamp in March. Among the Metaverse with Epic Games sponsors are Kirkbi and Sony, who have claimed that the belief in the project is significant as the project is long-term. Sony, which has invested in Epic before, plans to leverage the company's game engine to create virtual sporting events and other experiences.Įpic and Lego also recently partnered to build digital experiences aimed at children, illustrating a metaverse that would be more focused on creativity and play than traditional gaming. Epic Games, the world-famous creator of Fortnite, recently announced it had closed a 2 billion financing round that featured investments from both Sony, and KIRKBI, the family-owned company behind The Lego Group.Both Sony and KIRKBI reportedly invested 1 billion apiece into Epic Games. The North Carolina-based developer, known best for the hit game Fortnite, released a statement regarding the investment. Epic last raised cash in May of last year at a 28.7 billion valuation. Sony and KIRKBI have each invested 1B in Epic Games to advance the company’s vision to build the metaverse and support its continued growth. The new investment supports Epic's efforts to build "social entertainment" experiences-not just games-for adults and children, in coordination with strategic partners. Sony and KIRKBI will each contribute 1 billion in the round, which values Epic at 31.5 billion. Epic rival Roblox's market capitalization has fallen more than 42% since its direct listing in March 2021, from $45.3 billion to $25.9 billion today. The gaming industry is also contending with less rapid growth than it saw during the early days of the pandemic.
Late-stage valuations have come under pressure in recent months because of public stock declines. Epic was previously valued at 28. The Fortnite maker raised 2 billion, split evenly between Sony and Kirkbi, owner of The Lego Group.The new funding bumped Epic’s valuation to 31.5 billion. By Senad Karaahmetovic Fortnite's Epic Games Raises 2 Billion From Sony and Lego-owner KIRKBI at 31. As Epic Games pushes further into the metaverse, it’s strengthening ties with giants in digital entertainment and toys. The deal increased Epic's post-money valuation to $31.5 billion, indicating less than $1 billion in organic valuation growth since April 2021-a slower pace relative to the company's reported valuation growth in prior years. Twelves months ago, Epic raised 1 billion at a valuation of 29 billion. Epic Games has raised $2 billion from Lego owner Kirkbi Invest and Sony as the trio eyes opportunities to build virtual experiences that will lay groundwork for the metaverse.
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