Epic Secures $2B from Sony, Lego Owner for Metaverse Push

    • Epic Games raised $2 billion from Sony and Lego owner Kirkbi.
    • Each company invested $1 billion with an eye toward the metaverse.

As Epic Games pushes further into the metaverse, it’s strengthening ties with giants in digital entertainment and toys.

The “Fortnite” maker raised $2 billion, split evenly between Sony and Kirkbi, owner of The Lego Group. The new funding bumped Epic’s valuation to $31.5 billion.

  • Epic was previously valued at $28.7 billion from a $1 billion funding round in April 2021, which included $200 million from Sony. 
  • Sony invested $250 million in Epic in August 2020, securing a 1.4% stake at that time.

While the most obvious link between Epic and the PlayStation producer is gaming, Sony could also collaborate on scripted content. A report from October said that Epic was looking into launching an entertainment division.

The company hired several executives from Lucasfilm, and its Unreal Engine game development technology is also used by Hollywood studios.

The Lego Piece

While Lego already has a prominent digital presence through numerous movies, television shows, and video games, including “LEGO Star Wars: The Skywalker Saga,” released earlier this month, the brand also shares certain futuristic ambitions with Epic and Sony.

Kirkbi CEO Soren Thorup Sorensen cited Epic’s “long-term focus toward the future metaverse,” in hailing the investment.

Sony CEO, president, and chairman Kenichiro Yoshida also stated his company’s interest in the metaverse, while hinting at other joint projects.

“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.”