Epic Games announced a new wave of fundraising for around $2 billion. Sony, an electronics giant, is also involved in the round with an investment of $1 billion. This investment in Epic furthers the metaverse and enhances the new digital fan experience. This is important for those in the gaming space, particularly, the consumers, because they need to continue to see more enhancements in gaming.
The world of gaming has progressed over the past two decades to really making it to where gamers are becoming more immersive in the digital world.
While this doesn’t mean that they are wearing VR headsets, although more are buying VR headsets, it does mean that gamers may be spending more time within these virtual worlds.
Epic Can Invest In Enhancing the Experience
Epic showed some new tech, which grabbed the attention of the viewers. Last week, a showcase was hosted for Unreal 5, the latest edition of the 3D rendering engine.
Unreal five was used for many purposes, such as creating The Matrix Awakens, a demo for PS5, and Xbox series X/S. It has phenomenal graphics giving a realistic portrayal. In addition. In 2020, it invested $250 million, and later it again invested $200 million.
Although the specific motive behind the investments is still not clear, it can either be to establish grounds for a Playstation or to promote Sony’s virtual reality projects. Either has not told the actual motive behind the recent moves.
In a recent report, Epic CEO Tim Sweeney explained that the investments would accelerate the ongoing work. It will provide an environment for the players to have fun and entertainment. Not only players but a brand can also build a creative experience together with the community. Hence, a safe community can be built.
Chairman, President, and CEO of Sony, Kenichiro Yoshida, expressed her excitement about investing in Epic and building a relationship with the metaverse field. Moreover, she also explained the combination of the two; the expertise of Epic, together with their game engine and Sony’s technologies, will enhance the digital fan experience in multiple domains such as sports and virtual production.
Sony Is On An Investing Spree
Sony has invested in Epic Games but it has a great appetite in this space. It has been spending much lately. Sony has invested $3.6 billion in the acquisition of Bungie. In 2019, it also invested a huge sum of $229 million in bringing Insomniac, a huge studio name behind PlayStation exclusive hits like Ratchet and Clank and Spiderman.