Gaming industry continues to attract billion-dollar investments
Gaming industry continues to attract billion-dollar investments
US software developer Epic Games has raised $1bn in venture funding to create a metaverse linking different gaming universes. This follows a $1.5bn funding round last year and its equity valuation now stands at $29bn.
Over time, gaming has changed from a solitary hobby into a social hub with deep virtual connections and communities. Capitalizing on this, investors have shown great interest in the socialization of gaming. Companies such as the internet firm Beijing Kuaishou Technology and Indian telecoms giant Jio Platforms have also raised multi-billion-dollar sums.
As gaming features more in our lives, the development of fields such as virtual and augmented reality will bring investment opportunities. As predicted by Preqin, the gaming industry has grown due to COVID-19 cementing gaming's status as a social activity.