Epic raises $2 billion to build Metaverse from investors behind Lego and Sony

Epic Games continues to partner with partners in an effort to create a 3D-focused version of the Internet, raising $2 billion from investors behind Lego and Sony.

Epic has just launched Unreal Engine 5 for a wide range of 3D creation tasks, from film production to video games on PSVR 2. $2 billion investment - $1 billion each from investment firm The Lego Group (KIRKBI) and existing investors Sony Group Corporation . — should strengthen Epic's efforts to acquire and create additional technologies. In recent months, Epic has acquired Bandcamp and Sketchfab as it grows under CEO and founder Tim Sweeney.

Epic confirmed last week that Lego and Epic are preparing a "digital experience for the whole family" that "will give kids access to tools to help them become confident creators and provide amazing play experiences in a safe and positive space."

“We are thrilled to be coming together to build a space in the metaverse that is fun, exciting, and crafted for kids and families,” Sweeney shared in a prepared statement.

According to Epic, the company offers only one class of common stock, with Sweeney continuing to maintain control of the entity. The structure of Epic Games is notable in that it opposes the recently rebranded Mark Zuckerberg-led Meta, as well as established consumer tech giants such as Microsoft, Amazon, Apple, and Google. They are all investing in future technology platforms made possible by things like more powerful AI assistants or augmented reality glasses, but the internal structure of these organizations and the amount of leeway given to management to invest in long-term positioning rather than short-term quarterly gains could become a significant difference in the coming years.

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