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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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Sony’s New 3D Display Doesn’t Require Any Glasses

VRScout

Sony announced a new addition to its growing lineup of Spatial Reality Displays. Available for purchase next month, the ELF-SR2 is a 27-inch 4K display that can supposedly deliver immersive 3D content without the need for additional hardware, such as augmented reality (AR) glasses or a VR headset.

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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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Sony Establishes Virtual Production Collaboration Centre

XR Today - Augmented Reality tag

The technology field leverages immersive hardware and software stacks, enabling on-set professionals to project realistic virtual environments as backdrops with immersive visualizations viewable by a human’s and a camera’s eye. Moreover, Sony has a DMPC in Los Angeles to provide VP knowledge in the US.

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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.