Reporting by XinZhiyuan
EDIT: Time
With another $2 billion in financing, how will the Epic Games Meta universe develop next?
Recently, game developer Epic Games announced a $2 billion round of new funding to push for the creation of a metaverse.
The funding came from Sony and Lego Holding Company Kirkbi, which each invested $1 billion.
So how will this funding help Epic Games continue to grow?
Accelerate virtual worlds
Epic Games is one of the most prestigious game production teams in the past decade, with the total number of user accounts including PCs, consoles and mobile devices exceeding 500 million as of February 2022.
Epic Games CEO Tim Sweeney said in a statement that "this investment will accelerate the creation of virtual worlds and give players the space to play with friends".
On April 13 last year, Epic Games announced that it had raised $1 billion in funding to develop the Meta universe, which was once valued at $28.7 billion.
Just over the past year, Epic Games has raised another $2 billion to continue to support meta-universes, and its valuation has now exceeded $31.5 billion.
It seems that Epic Games' Metaverse Spring has been racing for a year.
Epic Games has been creating epic graphics and virtual worlds through platforms such as Fortnite and its Unreal Engine game production toolset.
Just a week ago, Epic Games Unreal Engine 5 was finally available for public download, making it easier for users to make large-scale games with high fidelity graphics, ultra-realistic rendering, and immersive light and shadow detail.
Sony, Lego and Epic Games
This time the $2 billion was split by Sony and Lego Kirkbi.
As we all know, Sony is a Japanese company focusing on electronics and entertainment, while LEGO is a nearly 100-year-old company founded in Denmark, mainly developing children's entertainment.
In fact, Sony's relationship with Epic Games has a long history.
On July 10, 2020, Sony invested $250 million in Epic Games, acquiring a 1.4% stake to collaborate to create a more open and accessible digital ecosystem.
While Epic Games' $1 billion funding round in 2021 was funded by a number of companies, including Appaloosa, Baillie Gifford, and Fidelity Management Research, Sony added an additional $200 million to strategic investments.
It seems that Sony highly recognizes the strength of Epic Games, and now invested another $1 billion.
Kenichiro Yoshida, Chairman, President and CEO of Sony Group, said, "Epic Games continues to deliver revolutionary experiences and support creators of games and the entire digital entertainment industry through their range of cutting-edge technologies."
At the same time, Lego and Epic Games also announced a partnership.
Just last week, legogroup and Epic Games announced that they would establish a long-term partnership to create a family-friendly metacosmity.
With a direct investment of $1 billion, LEGO Group CEO Niels Christiansen said developing creativity through digital experiences is geared towards this direction.
Tim Sweeney, CEO of Epic Games, said, "We are thrilled to be able to create a fun space for kids and families together."
It is also worth mentioning that in July 2012, Tencent acquired a 48.4% stake in epicGames' issued share capital for $330 million.
Prioritize the safety of children
On Thursday, both Epic Games and Lego said the two would enter a "long-term" partnership to create a "family-friendly" metaspace.
Because it involves groups of children, this collaborative meta-universe project will prioritize the protection of children's safety and well-being, followed by the promotion of children's and family fun.
To this end, this children's metaversal project will ensure the following 3 principles:
First, protect the physical safety of children
Second, protect the privacy and safety of children
Third, children and adults have control over the digital experience
So, how can children play in the metaverse?
Use virtual social platforms to build blocks, dress up your characters, and buy goods with digital currency... These are all things that can be achieved in the child metaverse, but it is more controlled by the parents.
Bloomberg said that "in the next few decades, this metacosm has the potential to become part of an economy worth trillions of dollars".
Resources:
https://m.ithome.com/html/612434.htm
https://www.ft.com/content/24d4378a-6977-4ed8-be63-23c9bf9df366
https://www.protocol.com/bulletins/epic-lego-metaverse-kid