Sony, Lego to place $2 billion into Epic Games metaverse effort

Japanese biggest Sony and Lego’s Danish parent firm declared Monday a $2 billion investment in US gaming powerhouse amazing Games for its work toward joining the metaverse vision for the internet’s future.

Scores of tech firms have been rushing to invest in creating the metaverse, a loose term covering the fattening eco-system of interactive online worlds, games, and 3D gathering places that are already bringing millions of customers.

In the form of video games like Epic’s hit Fortnite, the precursors of the metaverse already exist in a minimalist way, with people coming together not only to play but also to interact and participate in events.

The $2 billion (1.84 billion euros) in funding is aimed at advancing Epic’s “vision to build the metaverse and support its continued growth,” the three firms said in a joint statement.

Sony, already a shareholder in Epic Games, and Kirkbi, Lego’s parent firm, are each investing $1 billion, the firms said.

“All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds,” they added.

The investment brings Epic Games’ valuation to $31.5 billion, the US game studio said.

With 350 million users around the globe, the Fortnite game is free to install but generates billions in revenue with the buy from players of additional items for their characters, including clothes.

The game has very quickly become a world phenomenon, to the point that some video games are now followed by millions of spectators.