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Epic Games has announced a $2 billion investment funding from Sony Group Corporation and Denmark-based investment company KIRKBI. The company, which is best known for its esports title Fortnite, now has a valuation of $31.5 billion. The game developer has recently talked about exploring the metaverse, and this funding is to help accomplish that goal while supporting its continuous growth.
A joint statement was released by all three brands expressing their hope for the future and the direction the funding will be targeted to. In the statement, the funding was said to be going towards the “vision to build the metaverse and support its continued growth”.
“ They reinstated their commitment to the creators and players likewise. Stating that the objective is to create great social entertainment, whilst exploring the link between digital and physical,” the statement read.
”All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds.”
The investment was made possible by the Japanese tech giant Sony and the private holding and investment company KIRKBI, who both invested a billion dollars each. In a bid to maintain cohesion within the company, Epic Games will be retaining its Founder and CEO, Tim Sweeney.
Speaking about the investment, the Chairman, President, and CEO of Sony Group Corporation, Kenichiro Yoshida, shared his strong confidence in Epic and its efforts towards creating an amazing experience for the esports and gaming community.
“We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts, such as the development of new digital fan experiences in sports and our virtual production initiatives,” he said.
There’s been a huge interest around the metaverse, NFTs, and Web3 and their endless offerings from various esports companies, including BAYZ, EVOS Esports, and Yesports. While there was scarce information as regards the actual products to be developed or impacted, whether or not it will include esports betting in the metaverse. They promised to create a new digital experience for fans, which could involve their esports games and possible betting options for a reward-based experience.
About Epic Games
The American video game developer and publisher was formerly known as Potomac Computer Systems, which launched in 1991. It was initially operational from founder Tim Sweeney’s parents’ house in Potomac, Maryland.
After several name changes, like Epic MegaGame, Sweeney and partner Mark Rein settled for a much simpler name with Epic Games. Its headquarters was moved to Cary, North Carolina, in 1999.
Epic Games is also known for Unreal Engine, a commercial engine available for game creators to build on. The engine has overtime powered popular games and has also been used in various other industries such as automotive, film and television, and manufacturing, amongst others.
Epic is the leading interactive gaming platform with its flagship product, Fortnite. The battle royale title, which has over 350 million registered accounts and 2.5 billion friend connections, has grown into one of the biggest games in the world.
