Epic Games is planning a 'Fortnite' expansion into the metaverse, following a $2 billion investment from Sony and Kirkbi.

The video game giant is eyeing more projects based on the Battle Royale title, after accepting a hefty sum from the holding and investment company behind The Lego Group.

According to The Wrap, Epic's valuation will rise to a whopping $31.5 billion.

The lofty deal is subject to "customary closing conditions, including regulatory approvals."

Epic's CEO Tim Sweeney said in a statement: “As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI.

“This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

Kenichiro Yoshida, chairman, president and CEO of Sony Group Corporation, commented: “As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time. We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”

Søren Thorup Sørensen, CEO of Kirkbi, added: “Epic Games is known for building playful and creative experiences and empowering creators large and small. A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”