Recently, the word “metaverse” has been talked about a lot, thanks to Facebook changing its parent name into Meta. Besides, this word was mentioned in the current Spider-Man movie trailer as well. You could have even heard Spin Master mention the Roblox metaverse. But what does metaverse mean actually?
Metaverse is basically a mixture of all kinds of technology that combines virtual reality, augmented reality, and videos to allow users to “live” within a digital realm.
According to Dubit’s worldwide trends survey, kids spend nearly equal amounts of time on phones, tablets, and PCs viewing videos, playing games, socialising, and learning. In terms of games, more than half of nine- to 12-year-olds in the United States play on Roblox at least regularly, and ten of the top 14 gaming platforms utilised by American children feature a social play component.
Based out of Leeds, Dubit, a 20-year-old games studio and virtual world developer, has raised $8M(£5.9M) to launch the world’s first live esports league in the metaverse, beginning with Roblox. Dubit has already collaborated with companies such as Disney, Facebook, and Lego, and is already bringing brands to Roblox.
Metaventures and French investor Jean-Charles Capelli led the investment round, which valued Dubit at $55M(£40.9M). The UK-based company plans to broaden its existing metaverse activity by launching the Metaverse Gaming League (MGL), which will take advantage of branded gaming events and esports contests. Metaventures and Dubit are also generating consumer lifestyle experiences for the metaverse, such as concerts and fashion displays.
“We’re happy to be partnering with Jean-Charles Capelli to pioneer new methods for companies to engage the metaverse, such as through our Metaverse Gaming League,” said Matthew Warneford, co-founder of Dubit. “The money will also enable us to develop enormously interactive live music and fashion events with which businesses may collaborate. It’s an exciting time for Dubit, as we put our experience and expertise to use in the metaverse.”
Metaverse Gaming League
Metaverse Gaming League, which is still in beta, organises regular live-streamed events in Roblox, the gaming and social platform with over 200M monthly users. Events take place in popular games, and unlike professional esports events, MGL allows anybody, not just great players, to compete and earn prizes. Following its initial launch on Roblox, it will be expanded to other leading metaverse gaming platforms such as Minecraft and Core.
“Dubit is in the right position to take advantage of the emerging potential in the metaverse,” Metaventures’ Jean-Charles Capelli stated. No other company has 20 years of expertise developing and launching virtual worlds, as well as a large network of companies and organisations with which it collaborates across the world. I’m delighted to invest in Dubit as an entrepreneur and musician, and I’m excited to help expand the great experiences it generates for Roblox and other metaverse users.”
Dubit was formed in 1999 by a group of youngsters who developed the first Flash virtual environment for children. Dubit, which now has a worldwide team of over 100 individuals, creates games and experiences for businesses all around the world and has established a Roblox team with experience in producing games with billions of plays.
Dubit now employs 100 people across three countries. Dubit, which has offices in the United Kingdom, the United States, and Australia, collaborates closely with brands all around the world, including Facebook (Meta), Disney, and Mattel, and has launched multiple brands into Roblox in the last two years.