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The DeanBeat: A Big Bang week for the metaverse

  • Posted byby Dean Takahashi
  • Updated
  • 8 min

The metaverse had a couple of Big Bangs this week that should put it on everyone’s radar. First, Epic Games raised $1 billion at a $28.7 billion valuation. That is $11.4 billion more valuable than Epic Games was just nine months ago, when it raised $1.78 billion at a $17.3 billion value.

And it wasn’t raising this money to invest more in Fortnite. Rather, Epic explicitly said it was investing money for its plans for the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. Epic Games CEO Tim Sweeney has made no secret of his ambitions for building the metaverse and how it should be open.

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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.