Note that both figures are part of bigger-picture growth trends. The top line reached a record of $655.3 billion last quarter, while bookings - use of the platform's virtual in-game currency - reached a Q1 record of $773.8 billion. Other virtual-world creations like Decentraland and the Sandbox are also struggling.īut Roblox is doing something right, despite the disappointing draw the metaverse has been thus far. Walt Disney's metaverse development efforts were shut down in March, according to The Wall Street Journal. Since then, artificial intelligence rather than the metaverse has become the Meta's top priority, with its intended metaverse platform never quite taking the shape that seemed to be in the cards.Īnd Meta's effort to date isn't the budding metaverse industry's only letdown. It's unlikely its founders knew at the time the idea would become a model for other such virtual spaces that would, in turn, eventually be considered the metaverse.īut the opportunity eventually felt so big that Facebook even changed its name to Meta Platforms back in 2021, underscoring the company's commitment to the idea.
The company launched back in 2006 as a platform offering gamers a variety of virtual online worlds in which to interact with other gamers. On the off chance you aren't familiar with it, Roblox's roots are planted in the video gaming arena.
Nevertheless, the company's numbers say Roblox is doing something right.īut first things first.
Chief among its current challenges is its lack of net profitability against a backdrop of seemingly waning interest in the metaverse itself. Roblox is doing what other metaverses aren't - or can'tĭon't misread the message.
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