TFN mentioned Epic Games’ 2020 acquisition of SuperAwesome, an online child safety startup. Moreover, Epic Games hopes to empower children to become creators as well, ensuring that the next iteration of the internet is designed with the well-being of kids in mind. The duo outlined plans to safeguard children’s privacy and to equip children and adults with tools that help them gain control over their digital experiences. While they haven’t gone into details about this plan, the two have committed to working together to make children’s safety and well-being a priority. The equity offering follows the announcement by Epic Games and Lego to co-develop a family-friendly metaverse for kids. In recent years, it’s been branching out into other forms of entertainment, hosting music concerts from top artists like Ariana Grande and Marshmello.
Epic Games also owns studios focused on lifelike human avatars, 3D item and environment scanning, online communication, and more.Įpic’s battle royale game Fortnite, for instance, taps into Epic Games’ metaverse capabilities, letting up to 100 players fight out to be the last one standing. The firm’s Unreal Engine is vastly used across the video game industry, as well as for film, TV, architecture, and more. The result has been an increasing hope that people will use the metaverse to socialize, play games, shop and even work.Įpic Games has steadily built and acquired much of the tech needed to bring its metaverse vision to life. These blockchain metaverses use NFTs to represent user-owned items like avatars, virtual land, apparel, and more. For developers in the crypto space, the metaverse signals an array of interoperable, overlapping environments built on blockchain networks. The metaverse is increasingly defined as the future involving a more immersive internet in which users interact in 3D spaces using avatars. “This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.” Søren Thorup Sørensen, CEO, KIRKBI was quoted. This investment doesn’t affect the equity structure, with Epic continuing to have a single class of common stock outstanding and remaining controlled by its CEO and founder, Tim Sweeney. This investment carries the common aim of the three companies to create a new form of social entertainment exploring the connection between the digital and physical worlds.
This new investment now values Epic Games at $31.5B, up 10% from a year ago. Blockchain-based gaming studio MYSTiC GAMES scores $1.3M to develop Web3-integrated mobile games - TFN
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