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 like Unreal Tournament, Gears of War or the Fortnite gamehas just closed a funding round for no less than $ 2 billion.

The fundraiser, intended for ” build the metaverse “, Seen participating Sony and Kirbithe parent company of LEGO, worth $ 1 billion each.

Note that Sony is not on its first attempt in terms of investing in Epic Games. In fact, in 2020, the company 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.

Furthermore, 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 Sweneyfounder 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 create creative and engaging experiences, and where creators can build communities and thrive. “

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

👉 On the same topic: the 4 best promising metaverses for 2022 – Which crypto project to invest in?

A metaverse for children in the works

This new announcement comes just days after a statement from Epic Games announcing a collaboration with Lego Group in order to ” shaping the future of the metaverse to make it safe and fun for children 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 on how this metaverse will be structured, but we already know that it will be designed to be the best 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 : protect children’s right to play by prioritizing their safety and well-being, protect their privacy by putting their best interests first and provide children and adults with the tools to control their digital experience.

At the time of writing these lines, we We still don’t know when such a metaverse will see the light of day. One thing is certain, the safety of children will still come first.

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

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

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About the author: Massimiliano Prue


Passionate about the world of decentralized finance and the news 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.

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