Epic Games receives $2 billion investment from Sony and Lego's parent company

engadget.com:

Epic Games has received two big briefcases stuffed with cash which will help it "advance the company’s vision to build the metaverse and support its continued growth.” Sony and Kirkbi, the majority owner of The Lego Group, are each plowing $1 billion into the publisher. The funding puts the post-money equity valuation of Epic at $31.5 billion, while founder and CEO Tim Sweeney remains in control.

It's not the first time that Sony has invested in Epic. It gave the company a $250 million cash injection in 2020 in exchange for a minority stake. Kirkbi also has an existing relationship with Epic. Just last week, the publisher and The Lego Group announced a partnership to build a kid-friendly metaverse, possibly in the hope of challenging the likes of Minecraft and Roblox.

“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,” Sweeney said in a statement. “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 has been piecing together a metaverse (a shared virtual world for all manner of experiences) inside Fortnite over the last several years. It built on the success of the core battle royale mode by introducing dozens of crossover skins, virtual items and dance moves; in-game movie nights and concerts; and a creative mode that lets plays build just about anything they can imagine.