It appears that Sony likes what it sees from its initial Epic Games investment. After Sony put in nearly half a million dollars into Epic, including $200 million last year, the Sony Group and KIRKBI, the investment company behind The Lego Group, just dropped $1 billion each into the Unreal Engine studio to help with its metaverse.
Epic confirmed the massive investment in an official blog post, explaining that the goal of the three companies is to "create new social entertainment exploring the connection between digital and physical worlds." Both funding decisions should not come off as a surprise. As mentioned earlier, Sony has had a bountiful relationship with Epic in recent years. Meanwhile, The Lego Group and Epic announced a new deal recently for the creation of child-friendly virtual play spaces.
Following the latest buy-ins, Epic Games' valuation is now up by $3 billion to $31.5 billion. Epic founder and CEO, Tim Sweeney, is still in control of the privately-owned company.