London-based Dubit Secures £ 6million in Funding; launches the Metaverse Gaming League – UKTN

As the next great fortune is in the metaverse, Dubit, a London-based games studio and virtual worlds developer, raised $ 8million (nearly £ 6million) in a fundraising round. The investment round was led by Metaventures and French investor Jean-Charles Capelli and values ​​Dubit at $ 55million (nearly £ 41million).

Develop the activity of the metaverse

Dubit will use the investment to expand its existing Metaverse business, introducing the Metaverse Gaming League (MGL) for branded gaming events and pioneer esports tournaments. Additionally, Metaventures and Dubit create consumer lifestyle experiences such as concerts and fashion shows for the Metaverse.

Currently in beta, Metaverse Gaming League regularly hosts live streamed events on Roblox, the gaming and social media platform with over 200 million monthly users. Events take place in popular games, and unlike professional esports events, MGL gives everyone the opportunity to participate and win prizes, not just elite players.

After launching on Roblox, it will expand to other leading metaverse gaming platforms, such as Minecraft and Core.

Announcing the increase, Dubit co-founder Matthew Warneford commented, “We are excited to be working with Jean-Charles Capelli to invent new ways that brands can enter the metaverse, such as through our Metaverse. Gaming League. The investment will also allow us to create massively interactive live music and fashion events that brands can partner with. It’s an exciting time for Dubit, putting all our experience and expertise at the service of the metaverse. “

Jean-Charles Capelli of Metaventures added: “Dubit is in the perfect position to take advantage of the new opportunities of the Metaverse. No other company has 20 years of experience developing and launching virtual worlds, combined with a large network of brands and organizations they work with around the world. As an entrepreneur and musician, I am proud to invest in Dubit and I am excited to help develop the incredible experiences it creates for users of Roblox and other metavers.

Create games and experiences

Founded in 1999 by a group of teenagers, Dubit created the first Flash virtual world for young people. With a team of over 100, Dubit creates games and experiences for brands around the world and has built a world-class Roblox team, an experience in making games with billions of games.

Dubit’s partner game network already has hundreds of millions of monthly players. In 2022, Dubit will further expand its presence in the United States by opening a studio in New York. With offices in the UK, US and Australia, Dubit works closely with brands around the world such as Facebook (Meta), Disney and Mattel.