Epic Games and the Metaverse Secures US$1 Billion Funding Round
On April 13, 2021, Epic Games announced a US$1 billion funding round, and in a statement within its release, Epic Games CEO Tim Sweeney highlights some of its goals.
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.
Investors include Sony (US$200 million), Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, and GIC as well as funds and accounts advised or managed by several firms. While the investment to expand social experiences within its gaming properties is fundamental to its business, the mention of the metaverse is considerably more interesting, and any significant advancements on this front will engender changes to entertainment, work, society, and cultures far beyond Epic Games’ sphere of influence—or any one comp…
You must be a subscriber to view this ABI Insight.
To find out more about subscribing contact a representative about purchasing options.