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.
Want to see more of our stories on Google?
P.S. Want to keep this site truly independent? Support us by buying us a beer, treating us to a coffee, or shopping through Amazon here. Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent Canadian media!
