{"id":81424,"date":"2022-04-11T18:11:59","date_gmt":"2022-04-11T17:11:59","guid":{"rendered":"https:\/\/esportsinsider.com\/?p=81424"},"modified":"2022-07-07T13:30:16","modified_gmt":"2022-07-07T12:30:16","slug":"epic-games-2bn-metaverse-investment-esports","status":"publish","type":"post","link":"https:\/\/esportsinsider.com\/2022\/04\/epic-games-2bn-metaverse-investment-esports","title":{"rendered":"Epic Games raises $2bn to grow metaverse efforts"},"content":{"rendered":"<p><span style=\"font-family: 'book antiqua', palatino;\">Game developer and publisher <strong>Epic<\/strong> <strong>Games<\/strong> has announced a $2bn (~\u00a31.5bn) round of financing involving <strong>Sony<\/strong> <strong>Group<\/strong> <strong>Corporation<\/strong> and <strong>KIRKBI<\/strong>.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Epic Games said the financial injection will be used to support the company’s growth, and help advance its vision to build the metaverse.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-20191\" src=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games.jpg\" alt=\"Epic Games logo\" width=\"975\" height=\"675\" srcset=\"https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games.jpg 975w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-300x208.jpg 300w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-768x532.jpg 768w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-100x70.jpg 100w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-218x150.jpg 218w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-696x482.jpg 696w, https:\/\/esportsinsider.com\/wp-content\/uploads\/2018\/10\/Epic-Games-607x420.jpg 607w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/p>\n<p>Epic Games announces $2bn in funding from Sony and KIRKBI. Image credit: Epic Games<span style=\"font-family: 'book antiqua', palatino;\"><strong>RELATED: <a href=\"https:\/\/esportsinsider.com\/2022\/03\/mad-lions-metaverse-zilliqa\/\">MAD Lions enter the metaverse with Zilliqa partnership<\/a><\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">The investment round included funding from technology conglomerate and previous Epic Games investor Sony Group Corporation, and KIRKBI, the investment company behind the LEGO Group. Sony and KIRKBNI both invested $1bn (~\u00a30.75bn) each.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Epic Games has stated that the company will remain controlled by its CEO and Founder, Tim Sweeney.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>Kenichiro Yoshida, Chairman, President, and CEO, Sony Group Corporation: <\/strong>\u201cWe are also confident that Epic\u2019s expertise, including their powerful game engine, combined with Sony\u2019s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.\u201d<\/p>\n<p><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Epic Games is the latest in a line of gaming and esports companies that are turning towards the metaverse. Metaverse, Web3, and NFTs are getting more and more traction in the world of esports.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">A large number of gaming and esports companies have explored the intersection between the metaverse and esports, including <a href=\"https:\/\/esportsinsider.com\/2022\/01\/yesports-closes-2m-funding-round\/\">Yesports<\/a>, <a href=\"https:\/\/esportsinsider.com\/category\/commercial\/partnerships-sponsorships\/\">BAYZ<\/a>, and <a href=\"https:\/\/esportsinsider.com\/2022\/01\/evos-esports-avarik-saga-metaverse-nft-play-to-earn\/\">EVOS Esports<\/a>. European esports organisation <a href=\"https:\/\/esportsinsider.com\/2022\/03\/mad-lions-metaverse-zilliqa\/\">MAD Lions<\/a> also recently announced a partnership focused on ‘entering the metaverse’.<\/p>\n<p><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">[primis_video widget=”5182″]<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>RELATED: <a href=\"https:\/\/esportsinsider.com\/2021\/11\/blockchaining-esports\/\">Blockchaining esports<\/a><\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Epic Games did not share any information about whether any of the $2bn will be used on its esports titles, nor did it reveal its plans for the metaverse. However, Yoshida mentioned the two entities will accelerate efforts to develop ‘new digital fan experiences in sports’, which may well affect its esports properties.<\/p>\n<p><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Epic Games is best known as the developer and publisher of esports title Fortnite, <a href=\"https:\/\/esportsinsider.com\/2019\/05\/rocket-league-developers-psyonix-acquired-by-epic\/\">owner of Rocket League developer Psyonix<\/a>, and the creator of video game engine Unreal Engine. Epic Games recently partnered with <a href=\"https:\/\/esportsinsider.com\/2022\/02\/fortnite-fncs-blast-2022\/\">BLAST to produce the Fortnite Championship Series<\/a>.<\/span><\/p>\n<p>E<span style=\"font-family: 'book antiqua', palatino;\">pic’s post-money equity valuation stands at $31.5 billion after the investments, though the investment is still subject to regulatory approval.<\/p>\n<p><\/span><\/p>\n<p><strong><span style=\"font-family: 'book antiqua', palatino;\">Esports Insider says: Epic Games has secured a major round of investment, this time focusing on the metaverse. The company did not share any details about how this will affect esports, but two of Epics’ most important games <\/span><span style=\"font-family: 'book antiqua', palatino;\">\u2014<\/span><span style=\"font-family: 'book antiqua', palatino;\">Fortnite and Rocket League \u2014 are esports titles. It will be interesting to see how the company’s metaverse plans affect its esports properties in the future.<\/span><\/strong><\/p>\n<p style=\"text-align: center;\">[maxbutton id=”5″ ]\n","protected":false},"excerpt":{"rendered":"<p>Game developer and publisher Epic Games has announced a $2bn (~\u00a31.5bn) round of financing involving Sony Group Corporation and KIRKBI. Epic Games said the financial injection will be used to support the company’s growth, and help advance its vision to build the metaverse. Epic Games announces $2bn in funding from Sony and KIRKBI. Image credit: … <a href=\"https:\/\/esportsinsider.com\/2022\/04\/epic-games-2bn-metaverse-investment-esports\">Continued<\/a><\/p>\n","protected":false},"author":85,"featured_media":12674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","esi_template":"default","excluded":false,"footnotes":""},"categories":[15024,4266,5283,106],"tags":[1653,9147,1634,3621,11954,12768],"class_list":["post-81424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-fortnite","category-investments","category-latest-news","tag-epic-games","tag-esports-blockchain","tag-esports-investment","tag-fortnite","tag-metaverse","tag-web3-esports"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Epic Games raises $2bn to grow metaverse efforts<\/title>\n<meta name=\"description\" content=\"Epic Games has raised $2bn (\u00a31.5b) from Sony and KIRKBI to grow its metaverse efforts. 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