Epic Games revealed a $100 million philanthropic fund
Epic Games revealed a $100 million philanthropic fund ⚡⚡⚡ Esports and gaming news, analytics, reviews on WePlay! The latest news on WePlay!
The Epic Games founder Sid Sweeny is widely known as a philanthropist, who supports both the environmental causes and his fellow game developers. Epic Games recently gave out $5 million in grants to various studios and research organizations that work with Unreal engine, and it’s now going to do even more.
During the “State of Unreal” keynote at GDC 2019, Epic Games revealed the new $100 million fund called Epic MegaGrants.
Mr Sweeny recently gave an interview to VentureBeat where he shared some details about the fund:
You know that we created a $5 million fund for grants disbursed over the last three years. The last funds have gone out this past week. What we’re doing now is we’re creating a new fund called Epic MegaGrants. These are also no-strings-attached grants. They’re not contracts to do anything for Epic… We’ll be disbursing $100 million of Fortnite V-bucks.
In that same interview, Sid Sweeny confirmed that Unreal Engine remains open source.
According to the Epic Store founder, the two main requirements a company needs to meet are:
- The worthiness of the project
- The existence of a reasonable plan
Besides gaming-related projects, Epic MegaGrants will also be focusing on academic research. The nature of the project doesn’t have to be directly beneficial for Epic Games.