Robert Steinadler, 17 days ago

Exploring the Metaverse: Lego is collaborating with Epic Games

Lego is one of the most successful brands in the world. In 2021 the company became the biggest toy manufacturer worldwide according to its revenue of over €7 billion. The Danish company is not only actively selling its famous building blocks but is also engaged in producing movies, books, and video games based on its iconic products. It looks like the company is not stopping there and is willing to explore new parts of the digital realm.

What is the collaboration between Lego and Epic Games all about and why is the Metaverse still a hot trend in crypto?

Lego dominates the market

Last year’s results were even better and the toymaker increased by 17% and the net profits rose by 4%. This puts Lego ahead of companies like Hasbro and Mattel. This growth has been created by the huge success of Lego’s digital product lines.

According to an article by the Financial Times, Lego is concerned to immerse its customers digitally in the same way as they do in its stores. For this purpose, the company entered a partnership last year with Epic Games. Epic secured a $2 billion investment from Sony and Lego in April 2022 to build a gaming metaverse.

Epic Games is well-known for Fortnite which is perhaps the biggest game in terms of success that was released by the company so far. The metaverse that Epic is developing is based on individual avatars that allow users to interact. Only very little details have been released and it is expected that the engine will be based on Unreal.

When do we get more details?

The recent article by FT drove attention to that already existing partnership by hinting that more details could be revealed at a later point this year. While we don’t have any more details on the specifications yet, this collaboration proves once again that the Metaverse is the future.

Many blockchain-based projects took a hit when the bear market began. The Metaverse is not exactly a single place but a concept that falls under two categories. The first one is a corporate-controlled Metaverse where companies own the data and the content. The second is the blockchain-based Metaverse where users own their data and content as well. It remains to be seen which version will be more successful.

With big brands such as Meta or Lego spending so many resources in creating their version, it becomes clear that this could be potentially one of the biggest growth markets in the future. Projects like Decentraland (MANA), The Sandbox (SAND), Axie Infinity (AXS), and even Floki Inu (FLOKI) could see user adoption once the broader market develops in the right direction.

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The Sandbox is one of the most successful blockchain games that offer a metaverse experience in a Minecraft-styled environment. In 2021 the Sandbox and the SAND token peaked in value and its user base went through the roof. Needless to say, the year after was not so bright even though the platform improved a lot of things. Most recently, the metaverse platform entered a partnership agreement that changes things a little bit and brought back some of the hype.

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