Roughly four years after announcing its inaugural $5 million Unreal Dev Grants program, the team at Epic has announced a new $100 million successor: the Epic MegaGrants initiative.
This is a big deal for Unreal developers, since that $100 million is earmarked for disbursement to "game developers, media and entertainment creators, enterprise professionals, students, educators, and tools developers doing outstanding work with Unreal Engine or enhancing open-source capabilities for the 3D graphics community."
It's going live right as Epic finishes up paying out the last of that initial $5 million in Dev Grants, and Epic says it will distribute this new $100 million fund (in allotments of $5,000 to $500,000) to creators without any expectation of IP ownership or publishing rights.
Applications are now open and will be evaluated on an ongoing basis, so interested devs are encouraged to apply through the Epic MegaGrants website.