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Is the Sony metaverse becoming a reality?

PS5 NFT as illustrated by a picture of Spider-Man in Fortnite
(Image credit: Epic Games)

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.” 

Sony PS5 close up of faceplate

What will the Sony and Epic Games metaverse look like? (Image credit: Sony)

Epic Games' Tim Sweeney believes the metaverse can't be owned by one company. As reported on Decrypt (opens in new tab), 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 (opens in new tab). “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.

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Ian Dean is Editor, Digital Arts & Design at Creative Bloq. Ian is the former editor of many leading magazines, including digital art focused ImagineFX and 3D World and leading video game title Official PlayStation Magazine. Ian launched the magazine X360 in 2005 and has relaunched many others. In his early career Ian wrote for music and film magazines, including Uncut, SFX, and assisted on The Idler. With over 25 years' experience in both print and online journalism, Ian has worked on many leading video game and digital art brands. With a passion for video games and art, Ian combines his loves to bring the latest news on NFTs, video game art and tech, and more to Creative Bloq. In his spare time he doodles in Corel Painter, ArtRage, and Rebelle while finding time to play Xbox and PS5.