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Epic Games Metaverse

Epic Games the Fortnite Developer Raises $2 Billion funding to develop Metaverse

Epic Games the developer of Fortnite has raised $2 billion in funding from The LEGO Group, Sony, and KIRKBI.
This funding will help Epic Games to focus on the development of the metaverse.
According to Epic Games, The Gaming Studio wants to create new experiences based on its already popular games and future projects.

Total Valuation of Epic Games hits $32 Billion in Valuation.

Tim Sweeney, CEO, and Founder of Epic Games says, “The investment will propel the company’s work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

With the deal, now both Sony and Kirkbi will rely on Epic Games’ expertise to create a metaverse.

Sony will merge its own technologies with Epic’s game engines for the proposed metaverse technology.

As per Kenichro Yoshida, Chairman, President, and CEO of Sony Group Corporation,” The company will target new digital fan experiences in sports and its virtual production initiatives.”

Still, Epic Games has not provided more information about its plans as of now. Its metaverse product would likely compete with already established decentralized alternatives, such as Decentraland and The Sandbox, which have attracted hundreds of investors and famous artists. Other centralized options, like Meta’s project, are also playing their cards.

Epic Games and The Lego Group are going to develop a metaverse for children.

This Metaverse can provide digital playing opportunities and learning activities to kids in a safe environment online.

“A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in,” said Soren Thorup Sorensen, CEO, KIRKBI.

The closing of the investment is subject to customary closing conditions, including regulatory approvals, said the company.

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