Dubit raises $8m to create the first eSports league for the metaverse

Dubit, a games studio and developer of virtual worlds for 20 years, has raised $8M (£6m) to launch the world’s first live eSports league in the metaverse, starting in the online gaming and social platform, Roblox. Dubit works with companies such as Disney, Facebook and Lego, and is already taking brands into Roblox.

The funding round was led by Metaventures and French investor Jean-Charles Capelli, valuing Dubit at $55m. The company will now expand its existing metaverse activity, introducing Metaverse Gaming League (MGL) to pioneer branded gaming events and eSports tournaments. Metaventures and Dubit are also creating consumer lifestyle experiences such as concerts and fashion shows for the metaverse.

Currently in beta, Metaverse Gaming League hosts regular live-streamed events in Roblox, which has over 200m monthly users. Events take place in popular games, and unlike professional eSports events, MGL offers everyone the chance to participate and win prizes, not just the elite players. Following its launch on Roblox, it will expand to other leading metaverse gaming platforms, such as Minecraft and Core.

“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,” said Dubit Co-founder, Matthew Warneford. “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.”

Dubit was founded in 1999 by a group of teenagers who created the first Flash virtual world for young people. Now a global team of over 100 people, Dubit creates games and experiences for brands around the world, and has built a dedicated Roblox team, experienced in building games with billions of plays. 

As well as creating games for brands, Dubit also partners with many of the top existing Roblox games to introduce branded content for their millions of monthly players. Dubit’s network of partner games already has hundreds of millions of monthly players.