Just a week after, Epic Games announced its plans to build a family-friendly take on the Metaverse in partnership with LEGO, Epic has now received a huge cash injection in the form of a $2 Billion funding round for the same.
The recent funding round in which both; Sony, Epic’s major investor, and KIRKBI, LEGO’s founding and investment group each invested $1 billion in funding that will be used “to advance the company’s vision to build the metaverse and support its continued growth.”
“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”Epic CEO Tim Sweeney
Meanwhile, Metaverse has mostly become a buzzword at this point but Epic Games might be up to something over here. As of now, Epic’s Fortnite is the closest thing we currently have to the Metaverse, with its in-game virtual events and concerts, customisable virtual avatars as well as virtual-items which are all major selling points and components of the Metaverse.
That said, we expect this funding round to be a major success that will bear its fruit in the coming years or at least until inherent disadvantages of the Metaverse including high prices for new VR/AR technologies have been worked out.
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