Fortnite maker Epic Games announced it was worth $31.5 billion Monday (April 11) after securing $2 billion in funding from Sony and the owner of the Lego Group.
As Reuters reported, the investment is designed to boost the metaverse partnership Epic had formed with Lego last week and comes at a time when many tech giants are working to carve out their own space in these virtual worlds.
Among the largest of these deals happened in January when Microsoft announced plans to purchase video game giant Activision Blizzard for $68.7 billion, the largest acquisition in the gaming sector’s history.
Read more: Activision Blizzard Earnings Show the Metaverse in Gaming’s Future
Fortnite, Epic Games’ massive open-world survival game, is already thought of as a metaverse launchpad, and investing in Epic gives Sony a chance to go deeper into that space. In 2021, Epic announced it had raised $1 billion, money it said it would use to fuel its metaverse ambitions.
Last week, Epic and Lego unveiled plans to launch a kid-friendly metaverse, referring to this project as “an immersive, creatively inspiring and engaging digital experience for kids of all ages to enjoy together,” and a “family-friendly digital experience will give kids access to tools that will empower them to become confident creators.”
See also: Lego, Epic Games Building Metaverse For Kids
However, the two firms offered little in the way of concrete details in their joint press release.
“Kids enjoy playing in physical and digital worlds and move seamlessly between the two,” said Niels B Christiansen, CEO of the LEGO Group. “We believe there is huge potential for them to develop life-long skills such as creativity, collaboration and communication in both.
“We have a responsibility to make digital play safe, inspiring and beneficial for all, and just as we’ve protected children’s rights to safe physical play for generations, we are committed to doing the same for digital play.”
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