After several big and well-known brands have entered the Metaverse to introduce their digital products, Lego, a toy company from Denmark which is famous for its colorful plastic bricks, also enlivened the world of Metaverse.
How does Lego plan to build its Metaverse? Watch this article to the end!
Lego Collaborates With Epic Games
Reporting from Yahoo Finance, the Danish toy company, Lego, has set plans to develop a virtual world with the help of Epic Games so that its products can be accessed in digital form within the Metaverse.
In short, Epic Games is an American developer and publisher of video games and software, behind popular games such as Fornite and Among Us.
With this plan, users will be able to build Lego sets in a virtual environment. In its annual report, Lego said, “We’re announcing a partnership with Epic Games to explore building a fun and safe Metaverse for kids.”
Furthermore, this step is also a sign that the Lego company will build its presence in the virtual world, targeting users in the digital market. According to the report, the company’s strategy is to continue to grow by offering Lego products in these emerging markets, as well as helping users recognize their brand online.
Niels Christiansen, as CEO of Lego, shares the journey the company took to reach this new target. Christiansen said: “We know very well how to draw consumers into the world of Lego in stores. We are working very hard to create a feeling of consumer involvement in the Lego world digitally.”
Compared to 2021, in 2022, Lego is seen growing significantly, with revenue soaring 17%. This growth was largely driven by strong sales in Western Europe and the United States. Not only that, consumer sales also increased by 12% during 2022.
Lego Duplicates Its Digital Space Plan
While other companies are slowly shifting their resources away from the Metaverse initiative, such as Microsoft and Tencent, Lego is doubling down on ideas for building digital spaces for kids.
In April 2022, the company invested $2 billion in Epic Games in partnership with Sony, with the intention of building its own Metaverse platform to bring children closer to Lego in a safe and secure virtual space, designed especially for them.
In addition to this investment, the company has stepped up hiring to develop in-house digital experiences since May last year, when they announced it would double the number of software engineers to take both physical and digital approaches.
At the time, Christiansen spoke of the power of the company’s digital push, commenting,
“On that digital journey, we really improved and developed our capabilities. We have also outsourced capabilities previously done by consultants. For now, this is our biggest investment.”
As well as exploring the digital world, the Lego company is also optimistic about the future of retail, which has increased the number of physical stores by opening 155 new outlets by 2022.
Apart from big brands like Lego, one of the countries known to lead global technology, South Korea, has also shown its seriousness in building the Metaverse ecosystem.