Leeds-based games studio and virtual worlds developer Dubit has raised $8 million in a new funding round, giving the company a $55 million valuation. The capital will be used to launch a metaverse-based live esports league, beginning with 200 million+ month users social and gaming platform Roblox.
Founded in 1999 by a group of teenagers, today the Dubit team now encompasses the globe and has a headcount of over 100. The studio has experience working with major brands including Disney, Facebook, and Lego, and in addition to gaming and virtual world works, is creating consumer experiences such as concerts and fashion shows for the metaverse.
The Metaverse Gaming League is currently in beta and hosts live-streamed events in Roblox. Much like your ‘traditional’ esports events, MGL events take place in popular games, but where Dubit aims to make a difference is in the democratisation of participation and chances to win prizes, i.e. not just elite players monopolising the entire process.
Once successfully launched on Roblox, Dubit plans to take its offer to additional metaverse gaming platforms including Minecraft and Core.
“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,” commented Capelli.