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| roblox wants to control the metaverse |
Roblox, a popular gaming platform for young children, has released its financial report. The company's second-quarter revenue was lower than expected.
The platform's current market capitalization is around $45 billion, making it more valuable than traditional video game giant Electronic Arts.
In May, the company said it had 43 million daily active users, up 28% year over year. By the end of the second quarter, the company said, the number had risen to 43.2 million.
The more users of the platform, the more revenue the company generates from selling its virtual currency Robux, which can be used for in-game purchases. The company takes a portion of Robux's revenue and shares it with the game developers.
The company has largely conquered the gaming world because it is not just a game in itself. Instead, it is a platform with millions of user-generated games.
He also pioneered what is known as the Meta-universe, the idea that more and more people interact with virtual content in the online world.
In addition, Facebook, Microsoft, and Epic Games have ambitious plans for the Meta Festival.
But Roblox seems to have bigger ambitions. The company announced its acquisition of a startup called Guilded, which develops gaming community building tools such as voice and video chat, as well as calendar and scheduling apps.
“The Guilded team has demonstrated their passion for community empowerment,” Roblox CEO said in a press release. You have a great team and great technology. We look forward to helping you continue your journey.
roblox wants to control the metaverse
Famous musicians attract young fans by hosting concerts on the Roblox platform.
Lil Nas X founded Roblox in December and has over 30 million views. YouTuber and rapper KSI hosted a number of shows this past weekend.
In addition, the company has also caught the attention of major media and gaming companies. In June, Netflix released a game through Roblox that gave players access to a virtual version of the Starcourt Mall of Stranger Things in the 1980s, which was the main setting for the show's third season.
Canadian gaming and entertainment company Spin Master announced last week that it will be broadcasting a new episode of its popular show Bakugan on Roblox. It took a week to stream on Netflix.
“By integrating our collective audience, we can offer the Roblox community and Bakugan fans new and unique ways to connect and experience entertainment in the Roblox meta-universe,” said the Vice President of Collaboration with Roblox Brands.