Epic Raises $1 Billion in Funding for Metaverse

[Peter_Brosdahl]

Image: Epic Games Store



After reports of considerably alarming financial losses, Epic Games has announced that the Epic Game Store completed a $1 billion funding drive, bringing its equity valuation to $28.7 billion. One of the largest contributors was Sony, which gave $200 million for strategic investment. Other investors include AllianceBernstein, Appaloosa, Altimeter, Baillie Gifford, funds and accounts managed by Appaloosa, Baillie Gifford, and Fidelity Management & Research Company LLC.



“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite...

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[Brian_B]

I can recall in the early '00's - Sony Online Entertainment very nearly had this. They had a lot of MMOs (EQ1, EQ2, SWG, etc) and ... while you didn't exactly have a common avatar throughout each game, you were able to have cross-game chat channels - and that was by account (which could be a proxy for a uniquely identifiable avatar)

They didn't quite connect all the dots, and it wasn't long before WoW came in and pretty much decimated the MMO landscape, and SOE did what Sony usually does... but it was almost there.