Epic raises $2B at a nearly $32B valuation to build its kid-friendly metaverse

Sony and Kirkbi, the parent company of the Lego Group, invested $1 billion each in the funding of the game. A money equity valuation of $32 billion has been given by this latest funding round. The new funding will be used to build a kid-friendly metaverse and support its continued growth.

The announcement comes a few days after it was revealed that the company was partnering with Lego to build a metaverse for kids. The companies are going to shape the future of the metaverse to make it safe and fun for children while building an experience for kids to play in.

All three companies aim to create new social entertainment that explores the connection between digital and physical worlds with this new funding.

We need partners who will share our vision for entertainment and play. This investment will accelerate our work to build the metaverse and create spaces where players can have fun.

Prior to this funding round, the company raised $1 billion in April 2021, with a $200 million investment from the Sony Group Corporation. Other investors included Appaloosa, Baillie Gifford, Fidelity Management and Research Company, GIC, T. Rowe Price and the Pension Plan Board.

The principles that were outlined by Lego and Epic will ensure that the digital spaces they develop are safe. The two will work together to make children's safety and well-being a priority, to safeguard children's privacy, and to equip children and adults with tools that give them control over their digital experience.

The companies plan to combine their experience to ensure that this next iteration of the internet is designed with the well-being of kids in mind. There is no word on when the virtual world will be launched or what it will look like.

It doesn't necessarily exist, but it is seen as a network of virtual spaces that will open up new. The idea of the metaverse is already unsafe for children, which will force Lego and Epic to create extensive safeguards around their planned virtual world.

Fortnite developer Epic Games and Lego partner to build a metaverse aimed at kids