Sony just threw $1 billion at Epic Games’ Metaverse
Epic Games Announced that the company received a $2 billion investment from KIRKBI (the company with ownership of The Lego Group) and Sony Group Corporation, with both companies investing $1 billion each. Sony already held a minor stake in Epic after a $250 million investment in 2020giving the company 1.4% ownership at the time.
Sony President, Chairman and CEO Kenichiro Yoshida claims that the company is “thrilled to invest in Epic” in order to deepen their “relationship in the metaverse field.” Yoshida expresses confidence that this partnership which utilizes “Epic’s expertise” and “Sony’s technologies” will assist its development of “new digital fan experiences in sports” and “virtual production initiatives.”
Epic claims that all three companies “aim to create new social entertainment by exploring the connection between digital and physical worlds.” The metaverse hasn’t had its time to shine in the mainstream yet, but it’s clear that big investors see great value in its potential. Epic has been working towards its metaverse plans for years now, and we’re patiently waiting to see them come to light.
Epic Games and The Lego Group also entered a partnership last week in which they’d work together to “build a place for kids to play in the Metaverse” As a result, it’s no surprise that KIRKBI invested that much money. With $2 billion invested in the company from these two corporations, the post makes it clear that Epic “remains controlled by its CEO and founder, Tim Sweeney.”