Dubit raises $8m to launch first metaverse esports league

Video game studio Dubit has raised $8m (~£5.9m) in funding to launch the first esports league in the metaverse.

As a result, the studio will host esports tournaments through the online game platform Roblox.

Image credit: Dubit

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The funding, raised by Metaventures and French investor Jean-Charles Capelli, will enable Dubit to expand its presence by launching the Metaverse Gaming League (MGL).  According to the release, the league will initially host Roblox events before expanding into other titles such as Minecraft.

Matthew Warneford, Co-founder of Dubit, spoke on the funding round in a release: “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.”

The MGL is currently in beta and hosts regular esports events across multiple games in Roblox. Having collaborated with the likes of Disney and social media platform Facebook, the newly-formed esports league will also host branded events alongside its range of tournaments.

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Capelli also commented: “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 organisations that it works with around the world.

“As an entrepreneur and musician, I’m proud to invest in Dubit, and I’m excited to help scale up the incredible experiences it creates for users of Roblox and other metaverses.”

Outside of esports events, Metaventures and Dubit will also look to create ‘consumer lifestyle experiences’. This includes concerts and fashion shows for the metaverse. Finally, Dubit will expand its presence in the US by opening a studio in New York City.

Esports Insider says: The metaverse continues to be gaining traction and the funding raised by Dubit will position itself as one of the prominent gaming and esports event organisers in the space.

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