‘Kid-friendly’ project holds $32 billion valuation
Epic Games has announced that it has raised $2 billion USD in capital from two of its investors Sony Group Corporation and KIRKBI (holding company of The LEGO Group). The two companies posted $1 billion each to form a partnership with Epic Games for its upcoming ‘metaverse’ project.
“As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI,” said Epic Games CEO Tim Sweeney in a press release. “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.”
News of the huge internal investment comes just days after LEGO and Epic Games announced their intention of building a family-friendly metaverse that will provide children the tools, features, and online spaces with which to play, interact, and create within digital environments. The safety and security of the service’s users are promised to be of the highest priority.
With this new round of investments, Epic Games’ project stands at an estimated $32 billion in value.
“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said KIRKBI CEO Søren Thorup Sørensen. “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.”
Epic Games is expected to offer more details on its metaverse plans, including its name, details, services, and release window, later this year.