What Is Roblox and Why Is There So Much Hype About It?

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Video gaming platform Roblox is the latest hyped topic in the market after its launch on the New York Stock Exchange. The company has grown rapidly in recent times, and its popularity among young kids is mind-boggling, which has forced people, especially parents, to take an interest in Roblox. Every day millions of users are logging into the platform. It has kept its users mesmerized. At least the numbers say so!

The Launch

Roblox, often reduced to children’s niche, has been around since 2004. It made a scintillating appearance recently when it became public in the second week of March. Initially, the company was valued to be $30 billion after raising $520 million in funds last January. According to Wall Street Journal, the gaming platform ended with a market value of $45 billion.

That’s a big number. It makes Roblox bigger than video games giant Electronic Arts, which is famously known as EA. The video game platform is currently holding a second spot behind Activision, which has a market value of $71 billion. However, the platform has already outnumbered other popular gaming companies like Ubisoft by a large margin.

What exactly is Roblox?

Roblox is a two-way online video gaming platform. No, it isn’t a game. It is where users go to play games and design their own games.

Roblox is one of those businesses whose business soared during the pandemic. People turned online more for solutions and entertainment when they were forced to stay at home.

How it is different?

It is a user creation-based platform. The users can develop and design their own games. It is an open-ended universe. The designers and players can create their own meta-verse within the game. The platform is quite simple to use, designed in such a way that even children can use it.

Roblox has all the necessary tools needed to develop a game. Its own developers are constantly working to add new features and options. The tools are easy to use. It uses a scripting language – Lua – which is very easy to learn. The users have created millions of their own games on the platform. Every day kids are logging into the platform to get lost in the virtual universe.

Currently, the most popular games on the platform are – AdoptMe, My Restaurant, Theme Park Tycoon 2, etc.

The most popular games are open-ended games where players can role-play, explore, and build their own universe.

Big Deal

Money -  The biggest stimulus comes from the monetization of the game. Even kids can earn money. While the games are free to play on the platform, additional features can be bought. According to Roblox, about 300 developers earned more than $100,000 dollars in 2020.

There is a virtual money name Robux on the platform. Robux is used to buy extra features and gadgets to keep playing the game, with real money. The developers get their cut of the deals and can convert the Robux into money. Roblox shares 30% of its revenue with the creators, and it has paid more than $300 million in 2020.

More than 345,000 developers have earned money on the platform. Some have even paid their mortgage with their earnings from the platform.

How Popular?

According to Roblox, there are 32 million active users, who play for an average of 2.6 hours per day with a variety of devices. The popular game AdoptMe has seen 20 billion logins in 2020. That speaks volumes. The platform is currently available in 180 countries in 11 different languages.

The game

It has a wide range of games from single-player to multiplayer. Users can connect and socialize with other users on the platform. It is a kind of platform where users can create anything. The games are in pixelated forms. The most popular category is simulation. Gamers creating their own world and role-playing different situation is a common scene here. For example, a player takes care of a virtual pet and buys different kinds of stuff for the pet.

Since the game is very popular among young kids, parents need to be cautious about the transactions and connections their children are making on the platform.

 Future Door

Roblox has opened the door for discussion about the meta-verse. We have seen the movie Ready Player One, a futuristic meta-verse-themed sci-fi. The emergence of Roblox might introduce a new dimension in the gaming arena. The next decade might see revolutionary innovations in the gaming sector. Finally, the concept of the meta-verse, where people can create and get lost in their own virtual universe and connect socially with others, might become a reality in the future.