Epic Games, a well-known game development company, announced a valuation of US$31.5 billion and obtained US$1 billion in financing from Sony and Kirkbi, the family company behind Lego, for Epic Games’ long-term vision for the development of virtual worlds. (Additional background:Stronghold Heroes parent company Epic’s “metaverse” blueprint: subverting Facebook and other social media, demolishing Apple’s walled garden)
Epic Games, the developer of the world-renowned game “Fortress Hero”, announced on Monday that it has received $1 billion each from Sony Sony and Kirkbi, the family investment company behind Lego, at a valuation of $31.5 billion to promote Epic Games’ growth in the virtual world. vision.
In addition to being known as the developer behind “Fortress Heroes”, Epic Games has also developed the Unreal Engine “UnReal Engine”, one of the largest engine platforms created for games, and currently has its own online game store, which is well-known with Microsoft and Valve. Company competition. On the 5th of this month, Epic Games just released Unreal Engine 5 “UnReal Engine 5”, focusing on rendering the details of virtual open world games. Epic said last December that Fortress Heroes had moved to Unreal Engine 5 for development.
Kirkbi Chief Executive Soren Thorup Sorensen said in a statement Monday that the company will focus a portion of its capital investment on future trends that affect our lives and the lives of the next generation.
This investment will accelerate our participation in the world of digital gaming, and we are excited to invest in Epic Games to support their growth journey in this space, with a long-term focus on the future of virtual worlds.
Tim Sweeney, CEO of Epic Games, also said that the $2 billion in financing will help the company “accelerate its work on building the metaverse.”
As we reimagine the future of entertainment and gaming, we need partners who share our vision.
And we found common ground in our cooperation with SONY and KIRKBI.
Ubisoft invests $60 million in crypto fund
French game developer Ubisoft, known for its well-known franchises such as Assassin’s Creed and Polar Howl, pledged in a press release yesterday to invest $60 million in White Star Capital’s second crypto fund ; White Star Capital also announced the first-round closing of its second digital asset fund (DAF II) in the same press release.
It is reported that the new fund of up to $120 million will continue to invest in encrypted networks and early-stage blockchain-enabled Web3 businesses, with a focus on DeFi and gaming. DAF II will make token or equity investments ranging from $1 million to $7 million in 20-25 companies, with core operations focused on North America, Europe and Asia.
White Star Capital is a technology investment company established in 2014 and currently has an AUM of $1 billion. The firm’s first crypto fund was launched in 2020 with a $50 million fund to invest in up to 20 startups including Ledn, Alex, Multis, Paraswap, Exlusible and Rally.
Ubisoft also has its first crypto fund backing White Star, but is doubling down on its latest fund vehicle to accelerate its broader plans for blockchain gaming. In this regard, White Star general partner Sep Alavi told The Block that Ubisoft has always looked at this space in a very strategic way, which is why we have partnered with this fund.
Alavi went on to point out that, in addition to being larger in scale, the second crypto fund will target new crypto innovations that are “committed to mass adoption,” and will focus on DeFi and gaming.
It’s more about how to bring the next billion people into the crypto space with everyday use cases in apps, and most of the investment will be in infrastructure and apps.
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