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NFT News: Lego and Sony Invest $2 Billion into Epic Games for Metaverse

Jeff Pratt breaks down Lego and Sony funding Fortnite creator Epic Games for a new “family friendly” metaverse.

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Lego and Sony Invest $2 Billion into Epic Games for Metaverse

Epic Games is more than just Fortnite, and the video game company took a large step towards proving it this week.

Days after Lego and Epic Games announced their partnership to build a “family-friendly” metaverse, the toy company’s parent KIRKBI invested $1 billion into Epic for the creation of this unique virtual universe.

Sony also jumped in on the funding, matching KIRKBI’s funding with a $1 billion investment of its own. With these two deals, Epic Games will reportedly be valued at $31.5 billion.

“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,” KIRKBI CEO Soren Thorup Sorensen said.

Epic has dominated the video game industry since Fortnite’s release in the summer of 2017, but that hasn’t stopped the company from exploring opportunities to branch out. With the metaverse becoming a more mainstream concept, this was the perfect opportunity for expansion.

Learn more about Lego’s initial partnership with Epic Games below:

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