Epic Games Raises $2B for Metaverse Development

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Video game developer Epic Games has just closed a $2 billion funding round to fund projects in the metaverse.

According to the company, the round has been led by Sony Corporation, which has provided $1 billion in funding. Other participants include LEGO-owner KIRKBI.

Epic Games has reported it plans to develop services for games in virtual reality. Tim Sweeney, CEO and founder of Epic Games, has commented on the fundraising:

“We are reimagining the future of entertainment and we need partners to share our vision. Our company found them in Sony and KIRKBI. Their funding will accelerate our work to create a metaverse and create spaces where players can have fun with their friends.”

The company’s valuation could rise to $31.5 billion following the funding round.

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