Gaming Titan enter Metaverse by Raising $2,000,000,000 in Funding Round 

Epic Games is entering the metaverse with a $2 billion investment round led by Sony, the electronics giant.

Sony intends to Strengthen its partnership in the metaverse

The Unreal Engine is a high-end three-dimensional gaming engine for video games that is widely regarded as one of the world’s most powerful creation engines.

According to a recent news release, Sony officials invested $1 billion in the video game company, believing that their technology, along with Epic Games’ proprietary Unreal Engine, will offer them an advantage as they enter the metaverse.

Sony’s chairman, president, and CEO, Kenichiro Yoshida, stated:

“As a creative entertainment firm, we are ecstatic to invest in Epic in order to strengthen our partnership in the metaverse, a space where creators and users interact, We’re also optimistic that Epic’s skills, especially their formidable game engine, combined with Sony’s technology will help us speed projects like the development of new digital fan experiences in sports and our virtual production ambitions.”

About Epic Games and vision for future

Epic Games is best known for the immensely successful battle royale video game Fortnight and their flagship third-person shooter franchise Gears of War, which is valued at $32 billion.

Epic announced the investment after releasing Unreal Engine 5 last week, an engine that will almost certainly play a key role in the development of whatever non-Fortnite metaverse Epic has in mind.

 As tech businesses construct and define their versions of the metaverse, it remains a trendy buzzword. Given that Fortnite currently contains many of the “all-encompassing digital worlds” features that a metaverse is typically touted as, Epic appears to be ahead of the curve more than most corporations, making Sony’s investment reasonable.

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In July 2020, Sony bought $250 million in Epic, giving it a minority stake in the company in order to deepen and expand collaboration on technology for digital ecosystems, specifically Unreal Engine.

Despite today’s investments, Epic still has a single class of common stock outstanding, according to the news announcement, and Tim Sweeny remains CEO. The fruits of this relationship and Epic’s metaverse have yet to be seen, and won’t be for some time, but today’s announcement is another significant financial step toward making those ideas a reality.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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