Spire Animations Injected With Epic Games Funds To Create A Metaverse Experience

Spire Animation Studios gets a cash injection to develop the game metaverse. (photo: doc. spristudios)

JAKARTA - Los Angeles-based Spire Animation Studios said on Tuesday, February 1 that it had raised $20 million in a funding round. This huge fund includes investment from the creators of Fortnite, Epic Games, to collaborate and build a metaverse experience.

Spire says Epic's three-dimensional creation tool, Unreal Engine, will integrate with the company's feature animation channel to build a metaverse experience, enabling it to move the existing character and world assets into the metaverse.

Metaverse is the latest buzzword in technology. Many companies are shifting focus and deals are accelerating in this segment, as tech giants expect it to be a major innovation and revenue generator in the future.

In January this year, Microsoft announced the purchase of Activision Blizzard, the maker of the "Call of Duty" games, which became the biggest acquisition in the gaming sector and increased industry competition in the metaverse.

Spire's creative team includes former animators at Pixar Animation Studios and DreamWorks, both owned by the Walt Disney Co. The studio work is behind titles like "Cars 2" and "The Simpsons."

Proceeds from Epic and existing investor Connect Ventures will be set aside to expand the team, build new infrastructure, and improve technology, a source at Spire Animation said. Epic will also nominate members to the Spire board.

Founded by Brad Lewis, best known as the producer of "Ratatouille" and "How To Train Your Dragon," and entrepreneur PJ Gunsagar, the company currently produces "Trouble" and "Century Goddess."