Fun

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

News Feed - 2023-03-10 02:03:45

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


Lego, 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 Present Digital World Initiative


Lego, the interlocking toy brick company, is preparing to present details of a metaverse initiative built in partnership with Epic Games, the company behind Fortnite, according to the Financial Times. The move would clarify the future actions of the company toward establishing a presence in virtual worlds, targeting users in digital markets.


The company’s strategy is to continue growing by offering Lego products in such markets, helping users recognize the brand even online. Niels Christiansen, CEO of Lego, talked about the journey the company is taking to reach this new target. Christiansen declared: We know very well how to immerse consumers into the Lego universe in stores. We’re working very hard to create that feeling of getting into the Lego brand universe also digitally.


Lego grew significantly in the last year, with revenues soaring by 17% compared to 2021, in part boosted by the strong sales in Western Europe and America. Consumer sales also rose by 12% during 2022. A Focus on Digital Spaces and the Metaverse


While other companies have been slowly moving their resources away from metaverse initiatives, like Microsoft and Tencent, Lego is doubling down on the idea of constructing digital spaces for kids.


In April last year, the company invested $2 billion in Epic Games in partnership with Sony, with the idea of building its own metaverse platform to bring kids closer to the brand in safe and secure virtual spaces designed especially for them.


In addition to this investment, the company has been ramping up hiring to develop in-house digital experiences since May, when it informed that it aimed to triple the number of software engineers in order to take a physical and digital approach, no longer viewing these as different areas of its business.


At the time, Christiansen talked about the strength of the digital push of the company, stating: On that digital journey we’re really upping and increasing our capabilities, and we’re insourcing capabilities that were done by consultants before … Today, it’s our single biggest investment.


However, the company is also optimistic about the future of retail and has been increasing the number of physical stores as well, opening 155 new outlets in 2022. Tags in this story Digital, Epic Games, lego, Metaverse, Niels Christiansen, sony


What do you think about Lego’s digital and metaverse focus? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Hexa Raises $20.5 Million to Take Real Objects to the Metaverse METAVERSE | 2 days ago Democratic Senators Push Against Meta"s Idea of Bringing the Metaverse to Teens METAVERSE | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSteve Forbes Says the Fed Is ‘Inflicting Unnecessary Pain’ With Interest Rate Hikes Next articleJoin the Plena Smart Wallet Referral Program and Win Big with $1,000,000 in PLENA Tokens Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"


Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks
"Dr. Doom" Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks Economist Nouriel Roubini has shared his opinion about bank problems in the United States
US Senator Wants Congress to Step in With Crypto Guidance — Urges SEC to Provide Much More Clarity on Regulations
US Senator Wants Congress to Step in With Crypto Guidance — Urges SEC to Provide Much More Clarity on Regulations U.S. Senator Pat Toomey says Congress should step in and provide
Cboe seeks SEC approval to mix mutual funds with ETFs
Ana Paula Pereira4 hours agoCboe seeks SEC approval to mix mutual funds with ETFsThe exchange has petitioned the Securities and Exchange Commission to approve a broad multi-share class structure.406 Total views5 Total sh
Solana rockets 13% to new yearly high, led by WIF memecoin frenzy
Tom Mitchelhill19 minutes agoSolana rockets 13% to new yearly high, led by WIF memecoin frenzyThe price of Solana surged to reach a new 2024 high, while traders are doubling down on the Solana-based memecoin dogwifhat.16
Is Bitcoin repeating its 2020 breakout? Here’s why $92.5K might be the next target
Yashu Gola15 minutes agoIs Bitcoin repeating its 2020 breakout? Here’s why $92.5K might be the next targetRising Bitcoin ETF inflows and increasingly favorable technicals suggest that BTC price might rise above $90,000
Dogecoin Price Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15
Este artículo también está disponible en español. Crypto analyst Behdark has provided an in-depth analysis of the Dogecoin price roadmap to its current all-time high (ATH
Bitcoin, Ethereum Technical Analysis: ETH Drops Below $1,600 Following Completion of The Merge
Bitcoin, Ethereum Technical Analysis: ETH Drops Below $1,600 Following Completion of The Merge Ethereum fell below $1,600 on Thursday, despite the successful completion of the high
IOST Partners With Unic’s Institute for the Future to Empower Women in Blockchain
IOST Partners With Unic’s Institute for the Future to Empower Women in Blockchain press release PRESS RELEASE. The partnership aims to support, promote, and inspire female leads i
G20 Countries to Build Crypto Policy Consensus for Better Global Regulation
G20 Countries to Build Crypto Policy Consensus for Better Global Regulation The G20 countries aim to build a policy consensus on crypto assets for better global regulation. “
Six-Digit Bitcoin Prices: Stock-to-Flow Creator Says BTC Value Model ‘On Track Like Clockwork’
Six-Digit Bitcoin Prices: Stock-to-Flow Creator Says BTC Value Model "On Track Like Clockwork" Bitcoin prices have gone parabolic and the value is seemingly foll
Bitcoin price taps $64.7K as US CPI shows core inflation at 3-year low
William Suberg9 hours agoBitcoin price taps $64.7K as US CPI shows core inflation at 3-year lowBitcoin gets a much-needed boost from increasing optimism about the Federal Reserve’s course to cutting interest rates.4758
Malaysia Detains Over 600 People for Stealing Electricity to Mine Cryptocurrency
Malaysia Detains Over 600 People for Stealing Electricity to Mine Cryptocurrency In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individual