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12 Apr 2022

Epic Games Bags $1 Billion Investment from Sony to Create its Own Metaverse

Epic Games Bags $1 Billion Investment from Sony to Create its Own Metaverse

The Index Today

Epic Games on Monday announced that it had received $1 billion in funding from tech giant Sony Group Corporation that would aid in the development of its own metaverse.

According to CoinQuora, Epic Games’ CEO Tim Sweeney said, “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

Kenichiro Yoshida, Sony’s President and CEO, said, “We are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.”

This move will reportedly allow Epic Games to build “new social entertainment” by merging the virtual and the physical realms to facilitate the development of the company’s own metaverse.