Epic Games: $2 billion for Metaverse

Epic Games closed its latest financing round a few days ago, with a bang. The Fortnite maker has generated no less than two billion US dollars in fresh capital. The majority of the money (1.84 billion US dollars) comes from two giants, the Japanese Sony Group and the Danish Kirkbi Group, under whose umbrella Lego can be found.

How the new money will be used

The US software giant has clear ideas about how the money is to be used. Epic Games wants to invest in the Metaverse game versions and create great things in the process. At the first skim of the press releases, we almost thought that Mark Zuckerberg wrote the information himself.

Epic boss Tim Sweeney has big goals. By his own admission, he wants to reinvent the future of entertainment and gaming.

“This investment will accelerate our work to build the Metaverse and create spaces where gamers can have fun with friends, brands can create creative and immersive experiences, and developers can build a community and thrive,” Tim Sweeney said in his statement.

With Sony and Kirkbi, Epic has two major investors on board who agree that the Metaverse is the gamechanger for the gaming industry.

Expansion of the existing partnership with Sony

Incidentally, the Japanese from Sony are not a new partner for Epic. Sony already invested around $250 million in the game company two years ago and has now expanded the existing partnership.

“As a creative entertainment company, we are excited to invest in Epic to deepen our relationships in the metaverse, a space where creators and users share their time,” Sony CEO Kenichiro Yoshida said of the investment expansion.

Kirkbi Group new on board

Kirkbi Group is new as an investor. However, Lego and Epic had already agreed on a strategic partnership a few months ago, the goal of which is to improve the game offerings for children. The idea is to create a kid-friendly metaverse that appeals to all ages and entire families.

Officials are talking about an immersive, creative and stimulating play experience for the youngest. Children should be able to let off steam creatively. Epic Games is responsible for the development of the platform. Lego provides additional creative modules and the safety standards with its existing experience.

Kirkbi CEO Søren Thorup Sørensen commented on his holding company’s financial commitment as follows:

“Part of our investment is focused on trends that we believe will influence the future world we and our children will live in. This investment will accelerate our commitment to the world of digital gaming, and we are excited to invest in Epic Games to support their continued growth, with a long-term focus on the future Metaverse.”

Epic Games’ value skyrockets

The new round of funding has, of course, had an impact on the value of Epic Games. As such, the Fortnite creators are currently more valuable than ever. In terms of the current share price, Epic Games is worth a whopping $31.5 billion.

In the past few years, the company has shown how it is possible to generate billions in revenue from a free game. Epic Games makes its money by selling merchandising items as well as clothing and features for its online characters.

Furthermore, the company is naturally present in the eSports segment. All Fortnite tournaments are played under the Epic Games umbrella.