Sony invests $1 billion in Epic Games to further Metaverse development

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In recent years, Sony has been steadily investing money into Epic Games. As part of the company’s latest round of funding, Sony, and the investors behind LEGO, have invested a further $2 billion into Epic Games. 

This time last year, Epic Games was valued at around $29 billion, but that has now increased to $31.5 billion. Sony and KIRKBI, an investment group known primarily for the LEGO brand, have both invested an additional $1 billion each.

The investment will further Epic Games’ own metaverse ambitions, as explained by CEO, Tim Sweeney: “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

Sony Chairman, Kenichiro Yoshida, added that Sony is “confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate various efforts”. This includes everything from gaming to digital fan experiences across different entertainment mediums.

KitGuru Says: Besides gaming, Sony also has a huge film and production business. Unreal Engine happens to be great across both fields, and games like Fortnite have become great tools for cross-media advertising. With all of that in mind, Sony’s increased investment in Epic makes a lot of sense. 

Article source: KitGuru

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