Explained: Roblox Metaverse and How Does Roblox Meta Works? – Crypto News

Nowadays, everyone is talking about Metaverse and how it has evolved from a single concept of imagination to actual projects. Much has been spoken about tech giants such as Microsoft, Facebook, and Google making investments in metaverse, In this article, we will discuss Roblox and Roblox Metaverse.

What is Roblox?

roblox is an online gaming platform where millions of people come together each day to imagine, develop, and share experiences with each other in immersive, user-generated 3D worlds. The types of gameplay on Roblox are simply as endless as the creators’ imagination.

Members of the Roblox community have created all the online games you see on the platform for members of the Roblox community. Players can create the ultimate theme park, compete as a professional race car driver, star in a fashion show, become a superhero, or design a dream home and hang out with mates. Roblox is free to download and free-to-play (F2P) on all modern smartphones, including tablets, computers, Xbox One, Oculus Rift, and HTC Vive. It is creating a virtual economy that is powered by a community of creators and users.

Roblox has been one of the early players making a lot of efforts to create its strong identity in the Metaverse. The gaming platform, which boasts of a huge user base, has witnessed exponential growth, mainly after the COVID pandemic. Created initially as a common gaming platform, Roblox has now shifted its focus to the Metaverse.

What is Roblox Metaverse?

Roblox metaverse mainly focuses on creating an immersive virtual world in the current gaming platform and technology. At a time when companies working on the Metaverse are investing massively in technology such as augmented reality (AR) and virtual reality (VR), Roblox has chosen a different path. The gaming giant wants to use existing and proven technologies to create the best possible user experience.
The Roblox metaverse is a growing phenomenon where real-life brands and trends lure more companies to work with the Roblox platform. Roblox seeps into mainstream culture and makes money by entering into partnerships with franchises like Stranger Things and big brands during events happening in their virtual worlds. For example, Nike teamed up with Roblox last year to work on promotional and explorable events. The duo entered into a partnership to create a virtual world known as Nikeland. Users can dress up their avatars by buying in-game items like Nike-branded sneakers and apparel. These can be bought only by using real-world currency. Meanwhile, Creators get their portion of the revenue depending on the performance of their game. Nikeland promotes the clothing brand on Roblox.

Recently, given the popularity of Roblox’s younger audience of gamers, big-box retailer Walmart used the gaming platform to foray into the virtual world. Walmart is looking to enter the Metaverse with two experiences: Walmart Land and Walmart’s Universe of Play.

Roblox makes most of its money from in-app purchases, advertisements, and promotional activities.

As Roblox’s user base has grown, more retailers and brands have swooped in. These include well-known designers like Ralph Lauren and leading teen-oriented brands such as PacSun. Sports footwear brand Vans has built a virtual skate park in Roblox.

Earlier this year, Walmart filed for Metaverse-related trademarks. Some of the trademarks are related to asking for or selling virtual goods and offering users virtual currency and non-fungible tokens (NFTs).

How does Roblox Metaverse work?

Like any other Metaverse, the Roblox Metaverse functions with the essential elements of a virtual world, such as items, currency, events, mini-games, etc. One thing that makes Roblox different from other platforms is that Roblox is a creator-driven platform. This is because other significant rivals design their games and publish them on the platform.
Given below are some crucial aspects of the Roblox Metaverse that keep its users engaged and help it support its economy:

RobloxStudio:

Roblox Studio, the firm’s proprietary engine, allows its creators to create virtual worlds/games and publish their purchasable in-game items. A major part of Roblox’s 40+ Million games are user-generated, ie, made by “amateur” game creators in the Roblox studio.

In-Game Purchases:

These include different types of purchasable items in the Roblox Metaverse. One of the most important and well-known items is clothing and accessories for avatars. An Avatar is basically the virtual personality of members of the Metaverse, which can be customized by buying gear and accessories. Every purchase is made using Roblox’s cryptocurrencyRobux. Users are needed to exchange real-world money for Robux coins. Roblox offers native pricing in some countries. If native pricing is not supported for your country, pricing will display in USD by default.
Any user can purchase in-game items, but only a few members of the Roblox Metaverse are allowed to sell them. Right now, only an account with a membership can participation in private selling. Additionally, as with trading, only items marked as Limited or Limited U can be sold.

Events and Other Attractions:

Events like concerts and ceremonies are the backbone of Metaverse’s economy. The Roblox Metaverse intends to organize events appropriate for its target audience, mainly minors.

Brand Collaborations:

Several popular brands have been spending excessive money on advertising in the Metaverse.
In the Roblox Metaverse, luxury brands have partnered to promote their products. Some behemoths who have endorsed their products in the Roblox Metaverse include; Spotify, Walmart, Gucci, Lego, Nike, and Netflix. Roblox provides multiple channels to promote a branded experience, create a fanbase, and grow the audience for a brand.

Some Popular Games on Roblox:

Roblox’s top-grossing games, which witnessed billions of visits in the past years, include Adopt Me!, Blox Fruits, Brookhaven RP, and Shindo Life. Other popular games which have lured millions of players include Pet Simulator X, Sonic Speed ​​Simulator, King Legacy, Gacha Online, and Livetopia.
Roblox metaverse can be accessed on smartphones and other mobile devices sans the need for VR headsets. Roblox supports Facebook-owned Oculus Rift & HTC Vive on Windows PCs.