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Epic Games Secures $1B Investment to Build Its Unreal Engine-powered Metaverse

Road to VR

Epic Games, the company known for its hit battle royale title Fortnite and the Unreal Engine game engine, has managed to attract a stunning $1 billion in its quest to establish a metaverse of linked games and services.

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The XR Week Peek (2020.07.13): Sony invests in Epic, Rockstar is working on an AAA VR game, and more!

The Ghost Howls

Image by Epic Games). Sony invests $250M in Epic Games. Sony has announced that it has made a big investment of $250M in Epic Games through one of its subsidiaries. The investment gives Sony a minority stake in Epic that now is evaluated at more than $17B. Rockstar is working on AAA VR open world game.

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Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

Road to VR

Sketchfab , the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

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PlayStation VR 2 Coming in 2023

XR Today - Virtual Reality

Sony may launch it in 1Q23, depending on the development schedule of PS VR2 game titles. A tweet by XR analyst Brad Lynch revealed Sony’s manufacturing partnership, also reporting that the Goertek is producing parts for Meta’s Project Cambria, Apple’s upcoming XR headset, and Pico devices.

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The Future Is Now: 2023 Metaverse and XR Predictions Worth Looking Into

ARPost

Some of the most common myths and misconceptions surrounding VR include the following: it always causes motion sickness and virtual reality is solely applicable to games. Although gaming is certainly a great use case and example of what immersive VR experiences can deliver, the possibilities are endless,” said Vindevogel.

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The XR Week Peek (2023.10.11): Meta Quest 3 ships now, a cheaper model may come in 2024… and more!

The Ghost Howls

But not all the applications work well with hand gestures: for instance, most action games would suck with it. I think that for a small startup that is shipping its first product, it may make a lot of sense: for a company of that size, it is better to handle a smaller group of high-paying customers than doing the opposite.

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Top XR Events in 2021 That Should Be on Your Must-Attend List

ARPost

The COVID-19 pandemic has shown us how important immersive and interactive apps and games are in our everyday life. A large adoption rate for augmented and virtual reality in 2020 has broadened the audience and age groups interested in the latest technologies. AIXR Insights Live: Marketing in VR Games. When: October 19.

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