Earlier in April, Epic Game made a big announcement for its long-term metaverse vision—the goal of which is to create a unified and interconnected digital world. The company completed a $1 billion round of funding which will go into developing new and existing services. This pool of money includes a whopping $200 million strategic investment from Sony Group Corporation, who is already a close collaborator to Epic Games.
In a press release, Tim Sweeny, Founder and CEO of Epic Games, shared that the funding "will help accelerate [the company's] work around building connected social experiences in Fortnite, Rocket League, and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services, and the Epic Games Store."
Long-Term Metaverse Visions
Epic Games is Investing in Future Growth Opportunities
Trend Themes
1. Metaverse Development - Epic Games is investing in the development of a unified and interconnected digital world, creating opportunities for companies focused on metaverse technology.
2. Connected Social Experiences - Epic Games is building connected social experiences in their games, highlighting the need for companies to innovate in social media and online community building.
3. Game Development Tools - Epic Games' focus on empowering game developers and creators with Unreal Engine, Epic Online Services, and the Epic Games Store creates opportunities for companies that provide similar tools and services.
Industry Implications
1. Gaming - Epic Games' investment in metaverse and game development tools highlights the continued growth potential in the gaming industry.
2. Social Media - Epic Games' focus on connected social experiences emphasizes the need for innovation in social media and online community building, providing opportunities for companies in the social media industry.
3. Virtual Reality - Epic Games' metaverse vision presents opportunities for companies focused on virtual reality technology, as the development of a unified digital world will require advancements in VR technology.