Epic Games, perhaps best known for creating its eponymous online storefront, alongside the Unreal Engine, Fortnite, and multiple other games, has raised $1 billion in funding. About $200 million of this comes from Sony, which had already invested about $250 million near the end of 2020. In a statement announcing the news, Epic said that it would use the money to "support future growth opportunities."
Part of this is creating what it calls a "Metaverse." In the statement, the studio said:
"We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League, and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services, and the Epic Games Store."
Fans of each of the above franchises should be excited at the possible crossovers that could be had in the future. At least, that seems to be what Epic Games is alluding to. Sony's chief executive officer, Kenichiro Yoshida, noted that the company looks forward to continuing its partnership with Epic. Mr. Yoshida said that the studio creates "revolutionary experiences," adding:
"We are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology."
It seems as though part of this money will go toward expanding the list of exclusive games for the Epic Games Store. It was recently confirmed by the studio that it would be spending hundreds of millions of new deals focused on obtaining such titles. What these games could be remains to be seen.
With the new investments, Epic Games' valuation now stands at about $28.7 billion.
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