Even as it works to increase the services it offers in the metaverse, the Roblox Corporation has more than 2 million active gamers in Russia.
Metaverse commercials from well-known partners like Gucci, Ralph Lauren, and Chipotle will be among the new products. In addition to taking a cut of the advertising money, developers can insert advertisements through interactive billboards, taxi roofs, posters, and other venues. In-game 3-D portals will also be available, allowing players to access fresh brand experiences like Gucci Town or a Chipotle virtual eatery.
As a result of the major gaming companies leaving the country in an effort to punish the Kremlin for invading Ukraine, Roblox has seen an increase in its user base in Russia. Roblox has been able to establish its presence in Russia as a result of major companies like Electronic Arts Inc., Ubisoft Entertainment SA, and Nintendo Co. either stopping or reducing their sales there. In the United States, the game has over 11 million active users.
What position does Meta-Roblox occupy in the advertising world?
Roblox recently made the announcement that it would exercise caution when choosing which businesses can have space in its metaverse ecosystem. The corporation will soon unveil new age restrictions, and immersive advertisements will be directed to players 13 and older.
Where does that leave Meta Platforms (aka Facebook) in its quest to become the commercial center of the metaverse, given that major companies are already occupying real estate on Roblox?
Mark Zuckerberg, the CEO of Meta, has positioned the company’s metaverse as a multifaceted setting with opportunities for virtual meetings, socializing, shopping, learning, and gaming.
And the company has so far focused on using education as a means of introducing the work necessary to construct the metaverse to virtual world developers. Horizon Worlds VR, a virtual reality experience accessible to owners of the Oculus Quest VR headset, was also pioneered by it. According to an expert, this experience is a testing ground for business potential and a gauge of what people are ready to pay for in the metaverse.
Cryptocurrencies will not be accepted as a form of payment in the metaverse, according to Meta. It notoriously failed in its endeavor to develop its own virtual money, which resulted in major regulatory backlash. But earlier this year, it announced the launch of a virtual currency intended for a select group of developers to pay for perks like jewelry and VIP access. It is unknown if this new coin will serve as the foundation for a metaverse economy.
Physics powerhouse or social media titan?
Who will be able to profit from the metaverse? Roblox started off as a physics simulation engine, not as a business that depended on advertising for revenue, despite the fact that it now appears to be forging ahead in the uncharted waters of metaverse advertising. To its credit, though, it emphasizes positivity and good manners as essential elements of player interaction, in contrast to the significant PR issues that have shaken Meta in recent years.
However, given Zuckerberg’s unrestrained ambition and Meta’s history of playing hardball, it’s not difficult to imagine it making a genuine effort to secure a $1 billion piece of the metaverse’s earnings.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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