The current world pandemic has caused major losses across several industries. Many are still on the verge of recovering. On the other hand, it appears that one has made the best use of the situation. Fortnite developer, Epic Games, has reportedly been valued at a whopping $17 Billion. 

Fortnite – The fundamental key?

Epic Games is near to closing a new funding round of $750 Million that would bring about this valuation. New investors T Rowe Price Group and Baillie Gifford along with KKR & Co. will be investing towards the said round. 

Fortnite is not the sole reason for this valuation. The company is the creator of the ‘Unreal Engine’ as well. The game engine from Epic Games has been the key tool for many of the fan-favorite titles.

Trending

Dale Jr Unmasks Teresa Earnhardt’s Refusal to Sell Him His Late Father’s Prized Possession That Forced Relocation Move

April 17, 2024 12:29 PM EDT

Jimmie Johnson “Racing With One Arm Tied Behind His Back,” Claims Dale Jr as He Trashes Chase Elliott’s Sufficient Practice Rant

April 17, 2024 07:02 AM EDT

Shaq Makes Big Claim That Can End LeBron James’ Future With Lakers After Nuggets Series

April 17, 2024 06:48 PM EDT

Uncertain “Political Environment” Cause Kyle Busch and Richard Childress Racing to Take a Major Sponsorship Hit

April 18, 2024 05:43 AM EDT

After Team USA’s Defence for Nike, Sha’Carri Richardson and Athing Mu Flaunting Different Olympic Outfits Resurfaces

April 16, 2024 08:22 PM EDT

Get instantly notified of the hottest stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

Epic Games was founded by Tim Sweeny back in 1991. As of today, the company owns cloud-based software Cloudgine and Video game developers Chair Entertainment and Psyonix. With the launch of Fortnite in 2017, they established eSports events around the game and launched the Epic Games store. Game analyst Daniel Ahmad also spread some lights on how the valuation stands.

In 2012, Tencent acquired about a 40 percent stake in the company which amounted to close to $330 Million. The company is looking forward to expanding the business. Above all, with further additions and investors. 

Epic Games going forward

With the current situation, many people have taken up video games as a rescue from boredom. Given the chance, the company proceeded with smart business tactics. Fortnite hosted a concert by Rapper Travis Scott and featured the trailer for Christopher Nolan’s upcoming film ‘Tenet’. Millions of users tuned in to watch both the events and it has only benefited the company.

Now with the next-gen consoles on their way, it’s time for Epic Games to step up with their new Unreal Engine 5. The engine will support existing platforms along with the newly launched Xbox Series X and PlayStation 5.

The Unreal Engine 5 comes with Nanite, that will allow for high-detailed photographic material to be imported into the game by virtual technology. Fortnite is expected to use the same technology by 2021.