Is the Sony metaverse becoming a reality?

Has the Sony metaverse and the future of PS5's NFT plans just been teased? Perhaps. It comes as Epic Games, the developer of Fortnite and Unreal Engine 5, has raised $2 billion to fund its metaverse. Sony, and LEGO owner KIRKBI, are the two firms that chipped in with $1 billion each.

If you're reading this news of Sony's plans for the metaverse and asking, what are NFTs? then take a look at our guide. Equally, we have a feature on what is the metaverse – a planned connected internet of 3D spaces, VR worlds, games, art and more. What's important is that many view NFT art as the glue that will hold the metaverse together, and this investment suggests there could be a PlayStation NFT sooner rather than later.

In a press statement Epic Games founder Tim Sweeney said: “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.” 

Epic Games' Tim Sweeney believes the metaverse can't be owned by one company. As reported on Decrypt, he said at a conference in Seoul:  “[The metaverse] has the potential to become a multi-trillion-dollar part of the world economy. […] The metaverse is a term like the internet, no company can own it.”

While Sony has yet to stake interest in NFTs, Epic Games is more open to the idea of blockchain technology. “Epic Games Store will welcome games that make use of blockchain tech provided they follow the relevant laws, disclose their terms, and are age-rated by an appropriate group,” Sweeney tweeted. “Though Epic's not using crypto in our games, we welcome innovation in the areas of technology and finance.”

As Unreal Engine 5 is primed to be the engine of the metaverse, it looks likely if it embraces NFTs it will open the door to third-parties such as Sony to take part.