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Dubit raises $8m for metaverse esports events

Dubit raises $8m for metaverse esports events

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Dubit, a specialist game studio, has raised funding of $8m for expansion of its esports efforts in the metaverse. Dubit was founded in 1999, is valued at $55m and employs over 100 people. The company recently expanded into metaverse-friendly title Roblox. Investor Jean-Charles Capelli said: “Dubit is in the perfect position to take advantage of the new opportunities in the metaverse. No other company has 20 years’ experience developing and launching virtual worlds, combined with a great network of brands and organisations that it works with around the world.”

Dubit will use this money to open “the world’s first live esports league in the metaverse.” The Metaverse Gaming League (MGL) is currently in beta in Roblox, where it hosts live esports events. Dubit co-founder Matthew Warneford said: “We are delighted to be working with Jean-Charles Capelli to pioneer new ways in which brands can enter the metaverse, such as through our Metaverse Gaming League. The investment will also allow us to create massively interactive live events in music and fashion that brands can partner with. It’s an exciting time for Dubit, putting all of our experience and expertise to work in the metaverse.”