Epic Games Receives $2 Billion Metaverse Investment

Epic Games, the globally renowned game company, has secured a substantial $2 billion investment from Sony and KIRKBI for their metaverse endeavors.

Tim Sweeney, CEO of Epic, expressed that this investment will propel their efforts to create a metadatabase and establish spaces for players to enjoy with friends, brands to craft creative and immersive experiences, and creators to foster communities and thrive.

As a leading player in the gaming industry, Epic Games, based in the USA, aims to utilize the funds in alignment with its vision for metaverse development and to support ongoing growth.

The investment stems from both Sony, a previous investor in Epic, and KIRKBI, the umbrella organization encompassing Sony and Lego.

In recent weeks, Epic Games and Lego had announced a metaverse partnership, though details were scarce. Additionally, Sony made a significant foray into the virtual world by acquiring Destiny developer Bungie earlier in the year.

Tim Sweeney emphasized that the investment will accelerate Epic Games’ efforts in creating a metadatabase and developing spaces that cater to diverse user experiences.

Notably, this investment has expedited Epic Games‘ initiatives to build a metaverse suitable for children.

Founded in the USA by Mark Rein and Tim Sweeney, Epic Games has gained widespread popularity, particularly for its game Fortnite.

🎮 What is Epic Games?

Epic Games is an American video game developer and publisher best known for creating major gaming franchises and developing the underlying technology used across the industry.

• Founded: 1991 by Tim Sweeney.
• Headquarters: Cary, North Carolina, USA.
• Flagship Games: Epic is the developer behind the globally popular battle royale game Fortnite, which is a major cultural phenomenon. They also created the Gears of War and Unreal Tournament franchises.
• Key Technology: They are the creators of the Unreal Engine, one of the world’s most successful and widely used commercial game engines. It powers countless games and is increasingly used in film production, architecture, and other industries for creating high-fidelity 3D content.
• Distribution Platform: Epic operates the Epic Games Store, a digital storefront that competes with platforms like Steam, known for offering free games weekly and providing developers a better revenue split.

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