Sony and KIRKBI each invest $1 billion into Epic Games; all you need to know
The investments are aimed at establishing their marks on the Metaverse. Here's everything you need to know.
Epic Games published a press release, announcing funding of $2 billion, from investors Sony Group Corporation and KIRKBI. The announcement comes days after the commencement of Epic and Lego’s collaboration. The April 11th announcement takes the Epic and Lego collaboration a step further with financial backup. Here’s everything you need to know about Epic Games’ entry into the metaverse, the statements from the company heads, and their visions as they head towards the future.
Epic Games: Sony and Kirkbi investment details
Sony Group Corporation and KIRKBI have both invested $1 billion in Epic Games. It says that its aim is to help Epic further its plans to make its mark in the multiverse. The purpose of the deal will be elaborated further in the consequent sections. It should be noted that KIRKBI is also the family-owned holding and investment company of the Lego Group. The Lego Group had earlier announced its future of creative collaboration with Epic on this enterprise, on the 7th of April.
Purpose of the Investment
A statement from Sony’s President and CEO, Kenichiro Yoshida, reveals that the company is looking forward to its creations with Epic’s “powerful game engine”. Epic has only recently announced the launch of its Unreal Engine 5. Yoshida says, “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.”
KIRKBI’s CEO on the other hand announced that “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 statement clearly refers to Lego’s collaboration with Epic Games, which India Today Gaming has already covered at length in an earlier article. To know more about the Epic and Lego collaboration, find out here.
What does the future behold?
For Sony and its creations, we’ll probably get to see some even more realistic and immersive graphics. For KIRKBI and Epic Games, kids will find a new platform to engage in the metaverse with. However, it should be noted that the deal hasn’t officially closed, and that is subject to “customary closing conditions” and “regulatory approvals”. Therefore, all of these deals are still just on paper, the ultimate outcome is yet to manifest itself.