Gaming

Epic Games Has Bought Artstation, Drops Marketplace Fees To 12%

Epic Games has officially purchased Artstation, the website that is seen as the go-to hub for professional artists in the video game industry to upload their portfolios to. Also used by a large number of art professionals in the film industry, the website allows users and fans to see just how much work goes into creating the visual architecture that studios use to define the style and tone of a video game.

As part of its business model, Artstation runs a marketplace that is full of learning tutorials and resources for professionals and amateur artists alike, who are all looking to expand their set of skills. Now that Epic has acquired the website, it has already dropped the standard marketplace fee from 30% to 12%, much like it did with the Epic Games Store and the revenue that game studios can earn from selling a game on its digital distribution platform.

Epic has also made tutorials in ArtStation’s learning section free until the end of the year, which include valuable lectures from artists such as Disney’s Kevin Lima and LucasFilm’s Terryl Whitlatch. Artstation says that it will continue to operate as an “independently branded platform owned by Epic Games.”

“You can still use the platform as you do today, and we will continue to be open to all creators across verticals, both 2D and 3D alike–including those that don’t use Unreal Engine,” ArtStation CEO Leonard Teo said in a blog post. “We’ll be actively hiring and growing the ArtStation team. We’re committed to improving the platform and now as a part of Epic, we’ll be able to do much more.”

Epic’s lawsuit with both Apple and Google over Fortnite and the cut that both companies take from the game’s considerable revenue begins today, but it has also been busy inking new investment deals. Having secured $250 million from Sony alone in 2020, Epic raised $1 billion more this year with new partnerships such as a $200 million deal from Sony Group Corporation.

The endgame for all this funding currently is to “support future growth opportunities” and help the company create its “Metaverse.” As of April, Epic says that its equity valuation now stands at $28.7 billion.

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