PC Gaming The Epic Game Store

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik
Epic Games settled a Class Action Lawsuit over its Random Item Lootboxes.


BusinessWire said:
The settlement also provides up to $26.5 million in cash and other benefits to U.S.-based Fortnite and Rocket League players to resolve claims arising from players’ purchases of Fortnite and Rocket League in-game items.

Beginning today, Epic will deposit 1,000 V-Bucks, the Fortnite virtual currency, or 1,000 Rocket League Credits, into the accounts of U.S. players who bought a random item loot box. These deposits will be automatic and players do not need to do anything to claim them, though it may take a few days for all eligible players to receive them.

Additionally, players who believe they were harmed or damaged by virtue of their in-game Fortnite or Rocket League purchases and meet certain criteria can file a claim for a cash payment of up to $50 or a virtual currency deposit of up to 13,500 V-Bucks (in Fortnite) or 13,000 Credits (in Rocket League). Legal guardians of players who are minors that made in-game purchases without parental permission can seek partial refunds of up to $50, but must agree to the closure of their child’s Epic Games accounts.
 

ShadowArxxy

Well-known member
Comrade
Also, Tonic Games Group owns the publisher of PC Building Simulator.

Well, I'm glad I don't own that game then. It seemed rather silly to buy a game that lets me simulate designing PCs when I can do the same thing with nothing more than a notepad and a web browser.
 

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik
Guess whose the richest man in North Carolina?

Why it's Tim Sweeney, founder and CEO of Epic Games wbose net worth is 7.4 billion dollars. This occurred after Epic Games secured a billion dollars of new capital investment. His personal fortune is reportedly 4.7 billion dollars.

Epic Games is now worth an estimated 28.7 billion dollars.

 

ParadiseLost

Well-known member
That value only figures in assets, not debt. Epic is still struggling to turn a profit. The gambled on investing big on startup, and have yet to get the payoff. They could still get it, or they could just wallow in debt and keep afloat by gifting capital investors.

That's not how any of this works. At all.

For one, assets and debt have nothing to do with company valuation. Valuation is based solely on the sale of stock shares.

A private companies valuation is like a public companies market capitalization.

Private company valuation is usually based on the most recent sale of a share of ownership. So if somebody buys $400 million in Epic Games and receives a 2% share of ownership in the company in return, then Epic has just been valued at $20 billion ($400 million divided by 2%).

The justification for this is that if a sale was made at that valuation, somebody could probably make another sale at that valuation.
 

Terthna

Professional Lurker
That's not how any of this works. At all.

For one, assets and debt have nothing to do with company valuation. Valuation is based solely on the sale of stock shares.

A private companies valuation is like a public companies market capitalization.

Private company valuation is usually based on the most recent sale of a share of ownership. So if somebody buys $400 million in Epic Games and receives a 2% share of ownership in the company in return, then Epic has just been valued at $20 billion ($400 million divided by 2%).

The justification for this is that if a sale was made at that valuation, somebody could probably make another sale at that valuation.
If Epic starts defaulting on their debts though, which they could easily do if they keep failing to turn a profit, you can expect that valuation to drop sharply.
 

Val the Moofia Boss

Well-known member
No...



Noooooo!

I was right. Kingdom Hearts being an EGS exclusive was a dark omen of things to come. Hopefully this turns out to be timed EGS exclusivity, like how Metro Exodus and Shenmue 3 came to Steam a year after their EGS release.

This bodes ill for FF16. It will be a PS5 exclusive for at least 6 months to a year. Then it will go onto EGS, and it might be another year before it comes to Steam. 2 years of trying to dodge spoilers.
 

ParadiseLost

Well-known member
Kingdom Hearts was overpriced as fuck on PC.

The complete KH anthology is what, 5 games for $30 on PS4? They released them individually for $60 a piece on EGS.

That's a 1200% markup from Console to PC.

So Square Enix being greedy again with FF7 Remake and FF16 isn't surprising.

Meanwhile Remedy is basically an EGS Studio, so Alan Wake Remastered shouldn't be surprising.
 

ShadowsOfParadox

Well-known member
I used the EGS for a bit to get free games... about six months in I said, "Fuck it, this is bad enough I'm saying no to free now"

These days I use Opera GX and they have a "free games" thing that includes whatever the Epic game is so I'm grabbing the free stuff without opening the launcher.

Still haven't gotten one that's made me want to redownload EGS.
 

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik
Looks like Epic Games is going to expand in all manners of Epic Entertainment now that they are potentially planning on making a Fortnite film!


No word yet on how successful this film will be in comparison to other video game movies planned to be made like Microsoft's Halo movie from a while back... :sneaky:
 
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Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik
Epic Games stopped the practice of giving its employees alternative Fridays off (three day weekends) which was implemented during the Pandemic, generating many whining employees who apparently hoped it'd be forever, which I mean... if you got it already, might as well try and keep it. :sneaky:

Bloomberg said:
But in a survey of 581 employees reviewed by Bloomberg, 93% said they had found the alternating Fridays off to be “extremely beneficial” and 61% said they felt worried, guilty or stressed when taking separate vacation days. Almost 90% of employees said they wanted to keep Fridays off as a standard.

 

ParadiseLost

Well-known member
They aren't really whining. It was a reasonable expectation.

A lot of gaming companies implemented a similar policy during COVID, and most of them announced they were keeping it.

Square Enix Montreal even announced that they were moving to a permanent 4 day work week, dropping Fridays entirely, while giving employees the same salary.

The reality is that the competition for talent in the video game industry has rapidly increased during the last decade, and most companies will not be able to afford to continue treating their employees the way they used to.


Honestly, what this says to me is that Epic thinks they can't afford it with all the bad luck they've had in their legal case.

They are essentially locked out of releasing games on to mobile themselves, and if Fortnight dies on mobile, it'll become much harder to keep Fortnight going, as if people move on from Fortnight on mobile, it could very plausible cause them to move on to PC.

Epic has been VERY reliant on Fortnight mobile - 63% of Fortnight's revenue was mobile last time it was reported, and Fortnight is by far Epic's most profitable division, and its essentially subsidizing their store.

Epic is probably desperate at this point to grow its PC sector to make up for the inevitable lost income. I would expect a decrease in quality in Epic freebies, and a decrease in the number of exclusives.

Even worse, Epic's current troubles could make it more difficult for them to get substantial amounts of venture capital in the future, at least without hurting their valuation.
 

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