Sony is investing $1billion into Epic Games to further the metaverse
The Lego Group holding company Kirkbi will also be investing the same amount.
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Epic Games has announced that it is receiving $2billion in funding from both Sony and Kirkbi, the holding and investment company of The Lego Group.
Announced on the Epic Games blog, the Fortnite and Unreal Engine developer revealed that Sony and Kirkbi would be investing $1billion respectively into the company. In the post, Epic Games wrote that the three companies "aim to create new social entertainment exploring the connection between digital and physical worlds."
As well as this, Sony CEO Kenichiro Yoshida said "As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.
"We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives."
Søren Thorup Sørensen, CEO of Kirkbi, also provided a statement, saying "A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse."
The investment hasn't taken place just yet as Epic Games notes, as it is "subject to customary closing conditions, including regulatory approvals."
This follows the recent announcement that Epic Games and Lego have formed a partnership in which they plan to "shape the future of the metaverse." It seems like Epic really has the metaverse on the brain, considering that was the main focus of the Lego partnership announcement, as well as this investment from Sony and Kirkbi.
While not a full-on acquisition, this is the next big investment from Sony following its recent acquisition of Haven, in a year filled with big moves from big companies.