Mark Weaden
Epic Games has been seeking investment to build a metaverse, and they’ve found it in the form of $2 billion in investment. On April 11, Epic Games announced that they had raised $2 billion, with 1 billion from each investor. The metaverse venture is backed by Sony and KIRKBI, the family-owned private investment company and company behind The LEGO Group.
Epic Games is the company behind Fortnite and classics like Unreal Tournament, which brings the game life to the Unreal Engine, which is one of the most iconic game engines ever created. The Unreal Engine serves more than just game developers, it has been used in filmmaking, video editing, animation rendering, as well as other functions.
According to the gaming giants, the concept behind the metaverse will live up to the hype. Epic Games aims to create unique experiences based on its well-accredited list of games and future projects. With a colossal amount of funds raised, the company aims to “advance the company’s vision to build the metaverse and support its continued growth.”
Plans For The New Epicverse
Epic Games and LEGO have said that they want to build a metaverse that helps children to become good individuals, with the CEO of the LEGO Group Neils B Christiansen stating that children can enjoy “creativity, collaboration, and communication through digital experiences thanks to both physical and digital games.”
The LEGO company has inspired children for years with its simplistic product for many years, with a team behind it that have spent decades creating new and engaging products for children. A combination of gaming minds of Epic Games employees and the LEGO team, it does make one wonder about the creative masterpiece we may see once the metaverse begins to take shape.
Tim Sweeney, CEO & Founder of Epic Games, wanted to emphasise the importance of the partnership and stated that LEGO has “captivated the imaginations of kids and adults” for years. He believes that the new metaverse will be “fun, entertaining, and made for kids and families.”
What Does This Mean for Epic Games?
As a result of this investment, Epic Games is now valued at around $32 billion. The company is well-positioned to propel their project into the next stage and potentially become the leaders in the metaverse industry.
The company is first and foremost a games developer, which differs from companies like Meta (Facebook) shifting to creating games and virtual environments. While there are already prominent alternatives like Decentaland and The Sandbox, the project is very exciting and offers great potential.
As yet, Epic Games has not revealed what technology it will use to develop its metaverse. It will be interesting to see if the team goes for a centralised metaverse or not. The company has advocated for a pro-crypto model, so we may see them building it on the blockchain down the line.
