This morning Epic Games announced a $2 billion round of funding to advance their vision towards building the metaverse and the future of digital entertainment. The investors were Sony and KIRKBI which is the investment company behind The LEGO group with each investor contributing $1 billion.
Multiple formal statements were made with regard to the investment beginning with Sony’s Chairman, President, and CEO Kenichiro Yoshida:
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation. “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.”
Søren Thorup Sørensen, CEO of KIRKBI had the following to say:
“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO, KIRKBI. “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.”
Finally, CEO and Founder of Epic Games Tim Sweeney, issued the following statement:
“As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI,” said Tim Sweeney, CEO and Founder, Epic Games. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”
Our Take
More than ever, companies are driving towards a future where digital entertainment is at the forefront. With the amount of money being invested in the space, and the rate at which technology is advancing in cloud processing, A.I., and machine learning, the next decade is set for fundamental change. It’s an exciting and fascinating time for the gaming industry. For more thoughts on this, be sure to tune into our Bitcast this Sunday!
