Sony and LEGO owner each invest $1 billion in Epic Games’ metaverse

Sony Group Corporation and LEGO parent company Kirkbi are each investing $1 billion in Epic Games’ Metaverse. The investments still have to be approved by any regulators and governments.

Both companies are investing more than 918 million euros in Epic Games for the ‘further development of the company’s vision to build the metaverse’. Including the two investments, Epic Games now estimates its own total value at roughly 29 billion euros, the American company writes in the announcement. Sony has previously invested hundreds of millions in Epic Games.

Krikbi’s subsidiary, LEGO Group, showed interest in Epic Games in early April with the announcement of a child-friendly environment within the metaverse. At the time, it still seemed to be an undisclosed collaboration, while now it appears that the Danish company also invests directly in monetary terms.

In the blog post, Sony Group Corporation CEO Kenichiro Yoshida explains that the Japanese company also wants to help develop the metaverse: “We are confident in Epic’s expertise, including its powerful game engine. Combined with Sony’s technologies, we want to develop of new digital experiences within sport and our own virtual products.” Unlike LEGO Group, Yoshida does not announce any concrete plans for the social VR environment.