DoubleDown Interactive makes Million Dollar Investment in Fortnite Developer
Seattle-based digital game developer DoubleDown Interactive is reported to have invested $1.5 million in Epic Games - an American video game developer most notable as the creator of Fortnite. Released in 2017, Fortnite is one of the most popular video games in the world and currently has over 350 million accounts and 2.5 billion friend connections.
Epic Games also develops Unreal Engine, a software framework used for designing games and rendering 3D graphics. The Unreal Engine powers the world’s leading games and, besides the gaming industry, has been adopted in film and television, architecture, automotive, manufacturing, and simulation.
Into the Metaverse
Along with other games such as Roblox, Minecraft, and ZEPETO, Fortnite recently drew attention as a representative metaverse platform – a network of 3D virtual worlds focused on social connection, which users can interact with via virtual or augmented reality headsets.
Through this investment, DoubleDown is taking its first steps into the metaverse, an opportunity which the company is more than excited to take advantage of.
The social casino games publisher has been evaluating opportunities within the greater metaverse and believes this investment presents a compelling opportunity to gain business exposure.
DoubleDown’s CEO, Keuk Kim, said, “This was an opportunistic investment for the company that was generated by our partners in Korea and allows us to gain exposure to the rapidly growing metaverse, while we also continue to evaluate M&A opportunities that would be complementary to our core business.”
Although the concept of a metaverse has been around for decades, it has only recently gained traction, and the gambling sector is one of the first to take an interest in the opportunities it has to offer. The metaverse is frequently forecast as gaming’s next big thing, alongside crypto, and several companies like XR Casino, have already begun capitalizing on it.
About DoubleDown Interactive
The NASDAQ listed company is located in Seattle, Washing, and Seoul, Korea, and has been a pioneer in casino innovation since 2010. The company makes popular apps for mobiles and desktops and are the brains behind DoubleDown Casino, DoubleDown Fort Knox, and DoubleDown Classic Slots. Their flagship product, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, providing entertainment for millions of players worldwide with a lineup of classic and modern games.
DoubleDown is dedicated to creating multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players worldwide through an online social casino experience.
The million-dollar investment in Epic Games was facilitated by a venture fund led and managed by Gorilla PE and NCore Ventures, alongside a number of Korean internet and gaming companies.
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