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Dubit Reaches $55 Million Valuation After Raising $8M for Roblox-Based Metaverse Esports Events


Urian B., Tech Times


Dubit has just reached $55 million in valuation after recently raising an additional $8 million. The newly raised capital is used for the company’s Roblox-based metaverse esports events.

Dubit Specializes in Games from the Metaverse

According to the story by VentureBeat, Dubit is a game studio that specifically specializes in games that are for the metaverse. The company had just announced that it was able to raise a whopping $8 million in order to expand its very own esports efforts directly in the metaverse.

Metaventures and investor Jean-Charles Capelli were responsible for leading the round. As of the moment, Dubit is valued at $55 million and already has more than 100 employees.

Dubit Started in 1999

Dubit has already been making games for a long time. The company first started making games back in 1999 and has just recently expanded into the popular metaverse-friendly title known as Roblox.

Capelli noted that Dubit is now in the perfect position to be able to take advantage of the brand new opportunities in the metaverse. It was said that no other company in the space already has 20 years of experience when it comes to developing and launching virtual worlds.

Live Esports League in the Metaverse

Aside from experience, Capelli stated that they combine this with a great network of different brands and organizations that they work with all around the world. Dubit is expected to use this money to open the world’s first “live esports league” within the metaverse.

The MGL or Metaverse Gaming League is still currently in beta in Roblox. This is where it hosts live esports events. Matthew Warneford, the co-founder of Dubit, gave his statements regarding the recently raised capital.

Creating Massive Interactive Live Events

According to Warneford, they are delighted to work along with Jean-Charles Capelli to pioneer new ways for brands to be able to enter the metaverse. This could be through their Metaverse Gaming League.

The investment was said to allow the company to create massive interactive live events when it comes to music and fashion that brands will be able to partner with. Capelli said it is now an exciting time for Dubit as they put in all of their experience and expertise to work within the metaverse.

Read Also: Meta Isn’t the Only Metaverse Focused Company | Introducing Pokemon Go Creator Niantic

Learn More About Dubit

According to an article by PRNewsWire, Dubit was initially founded by a group of teenagers in 1999 who were just 13 and 14 years old. They then became the youngest directors ever and were even featured in the Guinness Book of Records.

The company launched its very first virtual world back in 1999 as well. Dubit already has over 100 staff across three different continents. The company now has offices in the United States, the United Kingdom, and Australia.

Dubit is already working closely with brands from all across the world like Meta (previously known as Facebook), Disney, and Mattel launching several brands into Roblox over the past two years.

Related Article: KuCoin Joins Metaverse with 21-Level Virtual Office | Representation of 21 Million Top Crypto Supply

This article is owned by Tech Times

Written by Urian B.

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