Roblox company allows developers to charge in fiat currencies, expanding payment options
In an effort to broaden its appeal and attract more developers, Roblox will now allow developers to charge players in fiat currency instead of its traditional virtual currency Robux. The announcement was made at Roblox's annual developer conference in San Jose, California.
According to Roblox CEO and founder David Baszucki, the new policy will be rolled out on the desktop platform later this year, with plans to expand to other platforms in the future. In addition to this policy change, Roblox also announced a new partnership with Shopify.
This integration will allow players to purchase physical goods within the Roblox digital experience. The company plans to pilot the feature with select creators, brands and e-commerce partners by the end of this year, and plans to roll it out more broadly early next year. The move aims to enhance the Roblox ecosystem by connecting virtual experiences with real-world products. Developers on the platform will benefit from the new revenue sharing model introduced with this update.
Under the new system, developers' revenue share will depend on the price of their paid experience. For example, experiences priced at $9.99, $29.99, and $49.99 will result in 50%, 60%, and 70% revenue share respectively. This tiering approach is intended to incentivize developers to offer a wider range of paid content on Roblox.
During the COVID-19 epidemic, Roblox's stock price soared as young users flocked to the platform for social gaming. However, in the years since, its shares have fallen about 40%.
The shift to allowing fiat currency transactions could reignite interest in the platform by addressing potential user fatigue with virtual currency transactions and providing a more familiar payments experience. The shift could also differentiate Roblox from other major gaming companies such as 2K and Electronic Arts, which rely heavily on virtual currencies to maintain centralized trading systems.
Amitt Mahajan, CEO of Proof of Play, reportedly expects a significant increase in blockchain usage specifically for gaming applications. Mahajan, who developed the popular Facebook game Farmville, envisions a future where there will be thousands of dedicated blockchains to support specific applications.
He views blockchain technology as an advanced database and believes that using blockchain as a data store is critical to scaling applications. The trend of dedicated blockchains in gaming isn’t limited to Pirate Nation.
Other games on networks like Avalanche are also utilizing their own dedicated subnets, such as Shrapnel and Off the Grid's GUNZ network. Treasure is also building its own Treasure Chain based on Arbitrum and has a dedicated game network called "Infinity Chains".
At the same time, Meta is seeking to revolutionize Metaverse gaming by integrating generative artificial intelligence (AI) technology. Meta's recent job postings reveal that the company plans to explore and prototype "new types of gameplay" in the metaverse by combining generative AI with virtual, augmented and mixed reality games.
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