Epic Games raises $2 billion to build a metaverse

Epic Games wants its place in the metaverse

epic gamesthe famous American video game studio to which we owe renowned franchises such as Unreal Tournament, Gears of War or the game Fortnitehas just closed a funding round at no less than $2 billion.

The fundraiser, intended for ” build the metaverse “, saw participate Sony as well as Kirbithe parent company of LEGO, to the tune of $1 billion each.

Note that Sony is not at its first attempt in terms of investment in Epic Games. Indeed, in 2020, the firm had already invested 250 million dollars in the studio, acquiring at the same time 1.4% company share. In April 2021, Sony returned the cover and again invested $200 million as part of a $1 billion fundraiser.

The Sony’s participation in the Epic Games studio marks an important turning point for the lattersince in the past, Epic Games had released some of its video games exclusively on Xbox, the competing video game console of Sony’s PlayStation.

Moreover, in 2020, Epic Games had chosen to publicly reveal the performance of its Unreal Engine 5 video game engine on the PlayStation 5 console.

According to Tim Sweeneyfounder and current CEO of Epic Games, these new funds will allow the studio to accelerate the development of the metaverse:

“This investment will accelerate our work to build the metaverse and create spaces where players can have fun with their friends, where brands can build creative and immersive experiences, and where creators can build community and thrive. »

After approval by the regulatory bodies concerning this new capital contribution, the Epic Games valuation will reach a staggering $31.5 billion.

👉 On the same subject: Top 4 promising metaverses for 2022 – In which crypto project to invest?

A children’s metaverse in the works

This new announcement comes just days after a statement from Epic Games announcing a partnership with Lego Group in order to ” shaping the future of the metaverse to make it safe and fun for kids and families “.

For Epic Games, the evolution of the current metaverse is such that it is necessary to rethink the way people meet, play and interact in virtual worlds, especially for children.

Few details about how this metaverse will be structured, but we already know that it will be designed to be the most suitable and as safe as possible for children and more generally for families, an idea supported by the press release:

“Lego Group and Epic Games will combine their respective experiences to ensure that this next iteration of the internet is designed from the ground up with the well-being of children in mind. »

This new project will focus on 3 axes : protecting children’s right to play by making their safety and well-being a priority, protecting their privacy by putting their best interests first, and giving children and adults the tools to control their digital experience.

At the time of writing these lines, we do not know yet when such a metaverse will see the light of day. One thing is certain, the safety of children will in any case be at the forefront.

👉 Read also: Hedera Hashgraph (HBAR) launches a $250 million fund dedicated to the metaverse

Sources: Epic Games (fundraising), Epic Games (kids metaverse)

Newsletter 🍞

Get a crypto news recap every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Maximilien Prue

twitter-soothsayerdata

Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

Leave a Comment