Lego, the Danish toy firm well-known for its colourful plastic bricks, is getting ready to current a brand new digital world initiative in partnership with Epic Video games, the gaming engine firm behind Fortnite. The transfer alerts Lego’s dedication to diversifying its leisure choices portfolio, focusing on the metaverse and digital markets.
The metaverse is a digital area the place customers can work together with a computer-generated atmosphere, different customers, and objects. The idea has gained recognition in recent times, and corporations resembling Fb and Microsoft have been investing closely in constructing metaverse platforms. Lego’s transfer follows a $2 billion funding it made in Epic Video games in partnership with Sony in April final yr, with the concept of constructing its personal metaverse platform to convey youngsters nearer to the model in protected and safe digital areas designed particularly for them.
Lego’s CEO, Niels Christiansen, acknowledged that the corporate goals to create the identical immersive expertise for its customers digitally because it does in shops. Christiansen defined that the corporate is upping its capabilities to supply Lego merchandise in digital markets, guaranteeing that customers acknowledge the model even on-line.
Lego’s push into the metaverse and digital markets is strategic as revenues have soared by 17% in comparison with 2021. The corporate can be optimistic about the way forward for retail and has been rising the variety of bodily shops as properly, opening 155 new retailers in 2022.
Whereas different firms like Microsoft and Tencent have been slowing down on their metaverse initiatives, Lego is doubling down on the concept of developing digital areas for youths. The corporate’s transfer is pushed by the assumption that metaverse initiatives will stay related for years to return, with a robust concentrate on making a protected and safe digital area for its customers.
The corporate has additionally been ramping up hiring to develop in-house digital experiences since Might, when it introduced its intention to triple the variety of software program engineers to take a bodily and digital method. Lego now not views bodily and digital areas of its enterprise as separate, and the corporate’s single largest funding as we speak is in digital capabilities.
Lego’s digital push is a continuation of its development streak, with revenues surging as a result of robust gross sales in Western Europe and America. The corporate goals to ascertain a presence in digital worlds, focusing on customers in digital markets. The metaverse initiative inbuilt partnership with Epic Video games is ready to make clear Lego’s future actions towards attaining this objective.