Epic remains controlled by Tim Sweeney, it maintains.
Sony and The LEGO Group’s KIRKBI have invested $2 billion USD in Epic Games’ version of the metaverse, Epic has today announced.
“All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds. Epic continues to have only a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney,” reads a press release from the gaming giant.
“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen of KIRKBI. “A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”
A week prior, LEGO Group announced a partnership with Epic to created a child-friendly version of the metaverse.
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” added Kenichiro Yoshida of the Sony Group Corporation. “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.”
This new investment by Sony and KIRKBI brings Epic Games’ estimated valuation up to $31.5 billion USD.
Epic Games has recently launched Unreal Engine 5, with a new Tomb Raider title confirmed as being built inside the new engine.
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