Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Eslami: Our colleagues' morale at nuclear facilities excellent, carrying out their duties with dedication.
AEOI chief Eslami: Let the enemies know that this aggressive policy will never bear fruit.
AEOI chief Mohammad Eslami: Our people, the people of strength and pride, have not folded under pressure and will never surrender.
Israeli media: Warnings of a drone infiltration in southern [occupied] Golan.
Al Mayadeen's correspondent: 11 martyrs, more than 100 injured in IOF bombing of aid seekers, central Gaza Strip.
Mehr News Agency: Cell was planning to execute terrorist operations in crowded areas in Tehran, their plan was foiled.
Mehr News Agency: Confrontations between security forces, gunmen thought to be connected to Israeli intelligence in Rey, south of Tehran.
Official in Varamin, southeast Tehran: Air defenses have destroyed another F-35.
Israeli Health Ministry: 94 injured taken to hospitals last night as a result of Iranian missiles.
Informed source to Al Mayadeen: Over 270 martyred since start of Israeli aggression on Iran

Epic Games' Metaverse development receives a $2B investment

  • By Al Mayadeen Net
  • Source: Agencies
  • 12 Apr 2022 14:29
3 Min Read

Sony and The Lego Group collectively invest $2 billion in Epic Games' Metaverse development.

  • x
  • Epic Games' Metaverse development receives a $2 billion investment
    Epic Games' Metaverse development receives a $2 billion investment.

Epic Games has announced a $2 billion investment in its metaverse development, with Sony contributing half of the funds.

According to a press release, Sony, which already owns a minority stake in Epic, has invested $1 billion in the Unreal and Fortnite developers to build "new social entertainment exploring the relationship between digital and physical worlds."

The other billion dollars comes from Kirkbi, the principal owner of The Lego Group. Epic announced a collaboration with Lego last week to create a family-friendly metaverse aimed toward children. According to the press release, today's investment would raise Epic's projected valuation to $31.5 billion.

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time,” said Sony Group president, chairman, and CEO Kenichiro Yoshida in the press release.

Related News

UK nears greenlighting Microsoft's $69bn Activision Blizzard buyout

Ericsson to step up savings plan due to fall in first quarter

Read more: Manchester City to build world's first metaverse football stadium

“We are also confident that 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.”

The investment follows the introduction of Epic's Unreal Engine 5 last week, an engine that will almost certainly play a big role in constructing whatever non-Fortnite metaverse Epic has in mind. The metaverse is a trendy buzzword as IT companies build and define their own interpretations of the notion.

Epic appears to be ahead of the curve more than other firms, as Fortnite already embraces many of the "all-encompassing digital world" features that a metaverse is frequently touted as, making Sony's investment comprehensible in that respect.

Sony invested $250 million in Epic in July 2020, giving it a minority stake in the company in order to improve and expand collaboration on technology for digital ecosystems, specifically Unreal Engine. Despite today's investments, Epic currently has a single class of common stock outstanding, and Tim Sweeny retains control as CEO, according to the press statement.

The fruits of this collaboration and Epic's metaverse are yet to be seen and will most likely be for some time, but today's news is another significant financial step toward making those ideas a reality.

  • Metaverse
  • sony
  • Lego
  • Fortnite

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Turkish Air Force pilot gestures from the cockpit of an F-16 military fighter jet before an Air Policing exercise at the Baza 86 military air base, outside Fetesti, Romania, Wednesday, March 6, 2024 (AP)
Politics

Israeli aircraft violate Turkish airspace, fighter jets scrambled

An Israeli occupation forces armored personnel carrier maneuvers in the Gaza Strip, southern occupied Palestine, Wednesday, June 11, 2025 (AP)
Politics

Palestinian resistance downs Israeli drone in Gaza amid extensive ops

An Israeli Hermes 450 UAV drone flies over Beirut, Sunday, Sept. 29, 2024. (AP Photo/Bilal Hussein)
Politics

Iran reports shooting down 28 types of hostile aircraft in 24 hours

Firefighters work to extinguish a blaze after a missile launched from Iran struck Tel Aviv, occupied Palestine, Monday, June 16, 2025 (AP)
Politics

Iran retaliatory strikes target greater Tel Aviv as injuries reported

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS