• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Epic
Nexo

Epic Games Secures $2 Billion From Sony And LEGO To Build ‘Child-Friendly’ Metaverse

Jet Encila by Jet Encila
1 month ago
in Crypto News, metaverse
0

Epic Games, creator of the Unreal Engine graphics engine and publisher of the massively popular video game Fortnite, has secured $2 billion in a fresh fundraising round led by Sony Group and KIRKBI, the owner of the Lego toy and entertainment brand.

The announcement is part of a strategy to fast-track the company’s aim of making a presence in the Metaverse.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Sony and KIRKBI invested equally in the transaction, each shelling out $1 billion at a post-fund valuation of $31.5 billion. Tim Sweeney, founder and CEO of Epic Games, retains control of the private entity.

Sony, the company that manufactures PlayStation consoles, also invested $200 million in Epic last April.

Suggested Reading | Meta Is Testing A New Digital Economy In Horizon Worlds — As Company Loses $10 Billion In The VR Market

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Epic Move Into The Metaverse

Epic stated that the additional $2 billion in cash will be used to “advance the company’s mission of building the metaverse and to support its sustained expansion.”

The companies claim they will mold the metaverse’s future in order to make it safe and enjoyable for children while also creating an immersive digital environment for youngsters to play in.

Epic states that with this new funding, the three firms will focus on developing new forms of social entertainment that investigate the relationship between the digital and physical worlds.

Epic has had record-breaking growth in recent years, fueled by Fortnite and Unreal’s continuous expansion.

Crypto total market cap at $1.81 trillion on the daily chart | Source: TradingView.com

Additionally, the corporation has been on the lookout for acquisitions, most recently Bandcamp, a music and artist community platform.

However, it has come under fire from the public because of its antitrust litigation against Apple. Apple’s 30% cut of purchases, the gaming company contended, was monopolistic.

During the trial, a judge concluded that while Apple was permitted to charge a commission, the tech giant’s anti-steering rule was deemed inappropriate.

Suggested Reading | Elon Musk: DOGE Payment For Twitter Blue, Shelter For The Homeless – And No To Twitter Board

What is meant by the term “metaverse”?

It’s a vision for a more immersive internet in the future, one in which users interact in three-dimensional spaces via avatars.

The metaverse is supposed to be a revolutionary improvement that will redefine how people shop, socialize, play games, and even work, and interest in the metaverse has grown in recent months following Facebook’s parent company’s rebranding as Meta.

There is no clear description of the “metaverse” at the moment, primarily because it does not exist, but it is widely viewed as a network of virtual places that will enable new forms of online connectivity.

Meanwhile, in a series of recent significant gaming industry acquisitions, Sony paid $3.6 billion for video game developer Bungie, the studio behind the Halo and Destiny franchises.

This move comes on the heels of Microsoft’s $70 billion acquisition of Activision Blizzard, the company behind Call of Duty and Candy Crush.

Featured image from UploadVR, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a cold bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Chainlink

Amber Group Partners With Chainlink For More Reliable Asset Transaction Pricing

7 hours ago
Metaverse

Metaverse Record: Biggest Property Sale In Virtual Land Hits $5 Million

11 hours ago
WeWork

WeWork Founder Is Back With $70 Million Funding For Flowcarbon

13 hours ago
Mastercard

Mastercard Exec Remains Optimistic On Crypto Despite Market Meltdown

18 hours ago
Coinbase

Coinbase Joins The Roster Of Fortune 500 Companies

20 hours ago
Shiba Inu

Shiba Inu Dislodges FTX In Average Quantity Held, WhaleStats Report Shows

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.