Fortnite developer Epic Games receives $ 2 billion from Sony, Kirkb to promote meta-verse efforts

Fortnite developer Epic Games receives $ 2 billion from Sony, Kirkb to promote meta-verse efforts

The developer of one of the most popular games in the world, Fortnite, has collected additional funds of $ 2 billion to accelerate its meta-verse ambitions.

epic Games announced on Monday that they received $ 1 billion from the existing investors Sony Group Corporation and Kirkbi, the family-run investment company behind The Lego Group.

After the official approval of the transaction, the post-money equity rating from EPIC is $ 31.5 billion.

Fresh financing is used to expand Epics vision for the meta verse and support its further growth, according to A explanation . Epic said it was trying to create new “social entertainment” by exploring the connection between the digital and the physical world.

"As a creative entertainment company, we look forward to investing in Epic to deepen our relationship in the metaversum area, a space in which developers and users share their time," said Kenichiro Yoshida, President and CEO of the Sony Group Corporation.

Sony's participation in the round extends to his Noopener "Target =" _ Blank "href =" https://www.roadtovr.com/epic-games-unreal-engine-1b-investment/ "> $ 200 million a year later. The accumulated capital of EPIC is intended for the developer's project in order to "create social 3D experiences in real time that lead to a convergence of games, film and music," said CEO Tim Sweeney.

While the funds have flowed, the questions are increasing as the developer will best try to monetize his efforts in a world that apparently is designed for decentralization and individual possessions of digital assets.

"What you have built up with Fortnite is a kind of meta verse, but I would say that it is a closed ecosystem in which you rely on external investments and deal with great intellectual property rights instead of a more open web3 meta verse," said Cliff Cawley, director of Lost Relics and Codebit Labs.

"It seems that some companies only use the term meta -verse as another concept of marketing to ensure that their balance sheets remain profitable for them," added Cawley

Fortnite is an extremely popular free-to-play battle-royal game, in which 100 players are discontinued on an island and fight through tinkering, shooting and looting.

While the model is playable free of charge, Epic generates considerable profits through microtransactions via its in-game store. Players can buy skins, Emotes and sprays in exchange for the company called V-Bucks, which in turn are bought with Fiat.

They are these V-Bucks, with which Epic achieves a large part of his profit. In 2018, the company achieved gross sales of $ 5.5 billion with its Fortnite title and the following year again 3.7 billion US dollars Documented documents from last year's study Apple vs. epic Games.

"It would be almost impossible for Epic to convert Fortnite into a web3 game smoothly," said Simon Kertonogoro, CEO and founder of MyMeta verses. "His game mechanics and monetization are already set up in such a way that they run on web2."

Web3 refers to the idea of ​​a decentralized internet in which the ownership of data is locally located. Metavers, on the other hand, relate to the experience that individuals will have based on a intersection of technologies such as virtual reality, blockchain and web3 infrastructure.

Both concepts are still in its infancy, but development and extensive financing have moved the borders further and further explored new sources of income that participate together in the success of a specific title.

While sales models have to be worked out, some blockchain gaming developers believe that Epic's push will contribute to positioning the emerging industry at the forefront and in the middle.

"We should definitely expect more innovations in this area if new economic models are introduced," said Brian Akaka, CMO at Laguna Games, the developer behind the upcoming NFT title Crypto Unicorns, to block works.

"It is important for game developers to integrate new mechanics as a natural component of the gameplay instead of treating them as an add-on."

Kertonogoro believes that Epic is ready to benefit from a completely new title that focuses on the concept of monetization of in-game assets that gives players the opportunity to participate in the profits from the sales of EPIC.

"I think that Tim Sweeney and Epic Games are generally smart enough to know that in the end the solution will always win the best for the players," he said.

epic still only sells one class outstanding regular shares and remains controlled by his CEO and founder.

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The contribution Fortnite Develop Epic Games Gets $ 2b from Sony, Kirkb to Drive Metaverse EFFORTS is not a financial advice.