Sony invests $1 billion in Epic Games for Metaverse development

Sony has decided to invest a generous $1 billion into Epic Games in order to have access to their Metaverse plan.

Recently, Epic Games just announced it was raising $2 billion in the financing, with $1 billion coming from Sony and the rest from Lego parent company KIRKBI.

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Announcing a $2 billion funding round with Sony and KIRKBI to build the future of digital entertainment. https://t.co/V0bcFftNkg

— Epic Games Newsroom (@EpicNewsroom) April 11, 2022
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“All three companies highly value creators and performers.” Epic wrote in one statement, “and aims to create new social entertainment that explores the relationship between the digital and physical worlds.”

Sony and Epic Games have been partners for several years, with Sony investing $200 million in Epic last year. Sony’s President and Chief Executive Officer, Kenichiro Yoshida said he was “confident” that this partnership and Epic’s recent release of game engine Unreal Engine 5 would “accelerate our efforts such as the development of new digital in sports and our virtual spending initiatives.”

The “Metaverse” is something we hear about more and more in the gaming industry. Just last week, Epic and Lego announced a new partnership to jointly build a Lego-themed metaverse. As Lego describes it, “an exciting, creatively inspiring and engaging digital experience for children of all ages.”

Although Metaverse is popular with CEOs and executives, it faces problems finding real users. Wanna are still not sure what the Metaverse is, and its’ connections to NFTs just make people more suspicious.

“While we are reimagining the future of entertainment and gaming, we need partners who share the same vision. We’ve met him in our partnerships with Sony and KIrkBI,” said Epic Games Chief Executive Officer, Tim Sweeney. “This merger will accelerate our work to build a metaverse and create a space where players can have fun with friends, brands can build creative and exciting experiences and creators can build communities and thrive.”