Epic Games, the maker of popular online game Fortnite, has raised $2 billion from Sony Group Corporation and Kirkbi in order to build its metaverse.
Both of the firms invested $1 billion each, with Kirkbi the investment company behind The Lego Group.
The investment brings the company’s post-money equity valuation to $31.5 billion. It is subject to customary closing conditions, including regulatory approvals.
It also follows a $1 billion investment from Sony Group Corporation in April last year, following the success of Fortnite.
Sony Group CEO, Kenichiro Yoshida, said in a statement that Epic Games’ expertise, alongside Sony’s technology, will benefit Sony’s creation of digital fan experiences in sports and its “virtual productions.”
“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,” Epic Games CEO Tim Sweeney said in a statement.
“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.”
The Lego Group and Epic Games partnered up earlier this month to create a safe metaverse environment for children.
The space will ensure that children have the opportunity to play in the metaverse without Lego having to rely on platforms such as Decentraland, which is used by an older audience.
Lego Group CEO Niels Christiansen added: “Kids enjoy playing in digital and physical worlds and move seamlessly between the two.”
“We believe there is huge potential for them to develop life-long skills such as creativity, collaboration and communication through digital experiences.
“But we have a responsibility to make them safe, inspiring and beneficial for all.”
Piper Sandler recently conducted a survey which concluded that nearly half of teenagers are unsure of or not interested in the metaverse.
It also found that only 5% of teens who own a virtual reality (VR) device use it daily.
Experts are also concerned that brands may not be able to shield themselves from objectionable content in the metaverse.
