Lord of the Rings’ visual effects studio sold off to Unity for $1.6 billion

Peter Jackson, the Director ‘Lord of Rings’ sold off his visual effects studio to Unity, which is also a software developer of numerous games. According to the reports, the acquisition deal has been made for a whopping $1.6 billion.

Weta Digital, the visual studio of the company is the recipient to 6 Academy Awards and BAFTA awards. Weta Digital has developed VR for highest grossing movies for instance, Black Widow, Avatar and Lord of the Rings.

Unity, on the other hand, is known for developing software for famous games such as, Call of Duty: Mobile, Pokémon Go and Fall Guys etc.

“Together, Unity and Weta Digital can create a pathway for any artist, from any industry, to be able to leverage these incredibly creative and powerful tools,” claimed Peter in a statement. “Offering aspiring creatives access to Weta Digital’s technology will be nothing short of game changing and Unity is just the company to bring this vision to life.”

The companies think acquisition is a better decision as it will help them to shape a better future for metaverse, after Facebook announced its rebranding so as to focus more on connecting users through augmented and virtual reality.

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