There’s no word on what exactly the virtual world would look like or when the two companies plan to launch it. Sony, along with LEGO parent company KIRKBI, are each investing 1 billion in Fortnite publisher Epic Games in an effort to 'deepen their relationship' with the metaverse. The two will work together to make children’s safety and well-being a priority, to safeguard children’s privacy and to equip children and adults with tools that give them control over their digital experience.Įpic said the digital experience will be family-friendly and empower children to become “confident creators.” The companies plan to combine their experience to ensure that this next iteration of the internet is designed with the well-being of kids in mind. Epic founder and CEO, Sweeney, continues to control the company, which has only a single class of common. While Epic and Lego haven’t gone into detail about their plans for their proposed metaverse, they outlined three principles that they say will ensure the digital spaces they develop are safe. With this new 2 billion investment, Epic said it's now valued at 31.5 billion. Rowe Price Associates-managed accounts, Ontario Teachers’ Pension Plan Board, BlackRock managed accounts, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital. Other investors included Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, T. Prior to this funding round, Epic raised $1 billion in April 2021, featuring a $200 million Sony Group Corporation investment. “This investment will accelerate our 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.” Stock Markets Published 06:04AM ET Updated 10:36AM ET Fortnites Epic Games Raises 2 Billion From Sony (SONY) and Lego-owner KIRKBII at 31.5 Billion Valuation. We have found this in our partnership with Sony and Kirkbi,” said Tim Sweeney, the CEO and founder Epic Games, in a statement. “As we reimagine the future of entertainment and play we need partners who share our vision.
With this new funding, Epic says all three companies aim to create new social entertainment that explores the connection between digital and physical worlds. The companies say they are going to shape the future of the metaverse to make it safe and fun for children while building an immersive digital experience for kids to play in.
On Monday, Epic Games announced it has received 2 billion in investments from Sony. Today’s announcement comes a few days after Epic revealed that it’s partnering with Lego to build a metaverse aimed at kids. Ap8:03 pm ET Sony is investing 1 billion into Epic Games, the publisher behind Fortnite. Epic says the new funding will go toward its efforts to build its kid-friendly metaverse and will also support its continued growth. This latest funding round gives Epic a money equity valuation of $31.5 billion. Fortnite-maker Epic Games announced today that it has raised $2 billion in funding from Sony and Kirkbi, the parent company of the Lego Group, with both companies investing $1 billion each.
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