Epic Games is currently valued at US$ 31.5 billion after it announced the other day the company has raised another US$ 2 billion from Sony Group Corp and the family who owns the Lego Group. These investments have come in to fund Epic’s growth in the metaverse field. The $2 billion investment has been equally divided between Sony and Kirkbi investment companies, with each pouring $1 billion into Epic’s pool. The Lego Group had entered into helping Sony earlier this year. Epic said that this fundraising will help the company advance the metaverse partnerships with other industry leaders.
Sony’s interest in Epic is a smart move. Currently, two of the biggest video games include Activision’s Call of Duty: Warzone and Epic Games’ Fortnite. Microsoft, Sony’s direct competitor in the video games market, declared earlier this year that it is going to acquire Activision for a record US$ 68.7 billion deal. Sony’s latest funding to Epic Games can thus be seen as a step into capitalizing on Epic games’ “Fortnite” business. Fortnite reportedly generates billions of dollars every year. Also, Fortnite is already considered to be set in the metaverse, thereby making it a great choice for investment.
Thus, Sony Group Corp’s latest investment decision is quite well calculated. Metaverse has been a hot topic in the tech industry, and every day a new company is jumping into their metaverse quests. Several companies are looking for different ways in which they can push the industry forward, and it is good to see industry giants like Sony also get into the game.