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Lego Prepares a Metaverse Collaboration With Epic Games to Target Digital Markets

Lego Prepares a Metaverse Collaboration With Epic Games to Target Digital MarketsLego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering new digital markets. Lego to […]

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WEF 2022: Metaverse should be developed from children’s perspective, says LEGO VP

Lego Group VP believes metaverse will be a disruptive force that would change the way people learn things, especially children.

Metaverse and Web3 dominated the discussions on the fifth day of the ongoing World Economic Forum (WEF).

A panel discussion on “The Possibilities of the Metaverse” was joined by High Fidelity co-founder Philip Rosedale, Mindfire Foundation founder Pascal Kaufmann, Magic Leap CEO Peggy Johnson, New York University - Abu Dhabi assistant research professor Hoda AlKhzaimi and Lego Group vice president Edward Lewin.

The key point of discussion revolved around the building blocks and future prospects of the metaverse. The panelists discussed the technical aspects, security and role of human sentiments in building a sustainable augmented reality-based digital world.

On a question about the developments around the metaverse, Peggy Johnson, the CEO of augmented reality development firm Magic Lap said that the building blocks are in place, even though, “It is in the early stage but innovation is certainly progressing towards a digital future.”

She went on to cite the use of augmented reality in the medical field and predicted metaverse would make complex jobs easier across different fields of work.

Lego Group VP for global affairs talked about building a future for children in the metaverse. He said:

“One in three people using the internet are young adults and children, so I would really focus on building from kids' perspective, given they are the future users.”

He went on to add how augmented reality can change the way children learn today, citing the example of a volcano. He said, learning about a volcano through a two-dimensional book and seeing it in augmented reality are two vastly different experiences while adding, “it could be a great way for learning for future generations.”

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New York University - Abu Dhabi assistant research professor Hoda AlKhzaimi believes the metaverse will be a place of “interconnectivity for knowledge and resources. ” She also stressed the need to rebel against the current systems to build a formidable digital world. She said:

“We need to rebel against the existing technological system be it the current computer codes or rules to build a formidable metaverse.”

Mindfire Foundation President Pascal Kaufmann said metaverse will be inclusive and disruptive while adding that it will be a place for revolutionizing science.

The panel agreed upon the need for building a place that prioritizes the privacy and security of individuals and allows them to be whatever they want to be.

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Gaming Titan Raises $2,000,000,000 in Funding Round Led by Sony To Build the Metaverse

Video game giant Epic Games is venturing into the metaverse with a $2 billion fundraising round led by electronics behemoth Sony. According to a new press release, top executives at Sony poured $1 billion into the video game company on the belief that their technology combined with Epic Games’ proprietary Unreal Engine will give them […]

The post Gaming Titan Raises $2,000,000,000 in Funding Round Led by Sony To Build the Metaverse appeared first on The Daily Hodl.

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Epic Games Teams Up With Lego to Build a Kids Metaverse

Epic Games Teams Up With Lego to Build a Kids MetaverseEpic Games, the game developing studio, and Lego, the famous construction block company, have announced a partnership to develop a metaverse designed for kids. This metaverse world aims to allow kids of all ages to become builders and design their own experiences while protecting their right to play by putting online safety as one of […]

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Fortnite creators Epic Games raise $2B from Sony and LEGO to fund metaverse plans

Looks like its latest raise brings Epic Games' valuation to $31.5 billion.

Epic Games, the video game publisher behind the popular PC and console game Fortnite, announced a $2 billion funding round with plans to accelerate the company’s vision to make its mark in the Metaverse. The deal, which is still subject to customary regulatory approvals, would bring Epic's equity valuation to $31.5 billion.

This round includes a respective $1 billion investment from existing investor Sony Group Corporation and from KIRKBI, the holding company behind the LEGO Group. Sony, the company behind PlayStation consoles, also invested $200 million into Epic in April 2021.

According to a statement, the three partners plan to combine expertise and technologies to influence the future of entertainment and digital play by developing new virtual production initiatives and digital fan experiences in sports and gaming. 

Tim Sweeney, chief executive officer and founder of Epic Games, stated that this investment will serve to "create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.” 

The capital raise follows an announcement by Epic and the LEGO Group to partner to make the Metaverse "safe and fun for children and families." They intend to build provide kids with access to "tools that will empower them to become confident creators" in a positive and family-friendly digital space.

Epic Games also developed Unreal Engine, one of the biggest platforms used to create games, rivaling the likes of Microsoft and Valve. Its latest update, Unreal Engine 5, facilitates the creation of NFT-based play-to-earn, or P2E, games.

Related: Is Illuvium the first fun crypto RPG video game?

In a string of recent large deals within the gaming industry, Sony acquired video game maker Bungie, the studio behind the Halo and Destiny franchises, for $3.6 billion. This move followed Microsoft's purchase of Activision Blizzard, home to Call of Duty and Candy Crush, for the massive sum of $69 billion.

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Could LEGO be hopping on the NFT train?

A mysterious, since-deleted tweet from the toymaker has piqued the interest of NFT collectors.

The LEGO Group, a toy manufacturer best known for its popular interlocking plastic bricks, hinted it may be getting into the latest craze in the crypto space.

On Wednesday, the official LEGO Twitter account posted (and then quickly deleted) a message referencing non-fungible tokens, or NFTs, along with a short video clip. The tweet, which read "zeros and ones but still a brick" along with the NFT hashtag could imply that the famous toy manufacturer is considering entering the crypto space once again.

The 14-second video, though not directly connected to NFTs, shows a 3D LEGO brick rotating in space with glitches popping up around the block. YouTuber Ashnflash, who posts LEGO-themed content, speculated that the tweet could be a teaser for a "digital LEGO currency."

Though the tweet has since been deleted, it seems many LEGO enthusiasts are less likely to get into the NFT space based on their initial reactions to the company’s announcement. Some cited environmental concerns, claiming the company getting into NFTs was "bad for the planet" given the toy manufacturer’s mission statement it is "balanced by renewable energy."

Amid the boom in NFTs, the technology has come under fire for its environmental impact due to the computational power required. However, as the industry develops alternatives for NFT minting that use a fraction of the necessary power, like Eth2, these concerns are likely carry less weight.

Though the official LEGO manufacturer may not be releasing any NFTs right away, crypto users can find artwork of similar plastic bricks in online marketplaces. For example, OpenSea's digital marketplace currently features a toy block figure of Breaking Bad's Heisenberg.

Cointelegraph reached out to The LEGO Group for comment, but did not receive a response at the time of publication.

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