The success of popular battle royale effort Fortnite means developer Epic Games could soon be worth as much as $8 billion.
The success of popular battle royale effort Fortnite means developer Epic Games could soon be worth as much as $8 billion.
As reported by Bloomberg, the North Carolina-based studio is riding high thanks to Fortnite, which is now taking in $2 million per day on iOS alone.
Overall, the free-to-play shooter is on track to generate $2 billion this year, meaning Epic could finish the year with a net worth somewhere between $5 billion to $8 billion.
Analysts suggest Fortnite's implementation of microtransactions has helped turned the game into a cash cow, with limited edition cosmetic items like outfits, skins, and dances encouraging players to spend.
"On the revenue side, they've done something that's really unique, which is come up with a perception of exclusivity," said Wedbush Securities analyst Michael Pachter.
"If you see another player in a leopard skin and go to the store and see it's no longer available, you think, Shoot, I've got to move on it next time."
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