Fortnite developer Epic Games has raised $2 billion from Sony Group, and the Kirkbi investment company that owns the Lego Group, taking the company’s value to $31.5 billion, Reuters is reporting.
Sony and the Kirkbi investment company have each invested $1 billion in Epic to help advance a metaverse partnership the developer had entered into with the Lego Group last week.
For those who aren’t familiar, the metaverse broadly refers to the idea of a shared virtual platform that people can access through different devices and where they can move through digital environments. The segment is being seen by tech giants as a major innovation and revenue generator.
Fortnite is already considered to be part of the metaverse, and the investment in Epic will give Sony a chance to delve deeper and capitalize on that business.
Earlier this year, Microsoft agreed to buy Activision Blizzard for $68.7 billion, marking the biggest acquisition in the gaming sector and boosting the industry’s bet on the metaverse.