This Lara Croft-like character is not a glimpse at the next Epic Games title.
This Lara Croft-like character is not a glimpse at the next Epic Games title.
Categories

Epic Games raises $1B for long-term metaverse plans, with $200M from Sony

  • Posted byby Dean Takahashi
  • Updated
  • 4 min

Epic Games said today it has raised $1 billion in a new round of funding in its bid to build the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One.

The company said the money will enable it to support future growth opportunities, and it places Epic’s equity valuation at $28.7 billion.

Unlock premium content and VIP community perks with GB M A X! Join now to enjoy our free and premium perks. 

Join now →

Sign in to your account.

Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.