Dubit raises $8M for Roblox-based metaverse esports events

Dubit, a game studio that specializes in games for the metaverse, today announced that it has raised $8 million to expand its esports efforts in the metaverse.

Metaventures and investor Jean-Charles Capelli led the round. Dubit is currently valued at $55 million and has over 100 employees in total. The company has been making games since 1999, though it recently expanded into the metaverse-friendly title Roblox.

Capelli said in a statement, “Dubit is in the perfect position to take advantage of the new opportunities in the metaverse. No other company has 20 years experience in developing and launching virtual worlds, combined with a great network of brands and organizations 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 in a statement, “We’re 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.”