In a recent interview, Roblox CEO David Baszucki discussed the possible addition of NFTs to the platform.
“There’s a bit of a dream here about objects and NFTs moving from platform to platform. We would imagine someday that those would go off-platform, as an NFT, possibly get sold off-platform, and then come back on-platform,” Baszucki said.
“What we do expect is the creators; that they would play a key role and have a fair amount of control in that process.”
Earlier this year, Roblox introduced Limiteds, a new type of virtual wearable product. Although Limiteds don’t use blockchain technology, they share many characteristics with NFTs.These items are sold in limited quantities and can be resold, with the original creator receiving a 10 percent royalty fee for each resale.
While Baszucki’s comments on NFTs in Roblox show openness, he does not ensure the integration of blockchain technology for its digital items. At present, it appears that Roblox leadership is considering the idea of interoperable NFTs, but there is no sign that they are actively working towards implementing such a change.
The fashion metaverse propelled a 38 percent increase in Roblox’s revenue last quarter, as revealed in its earnings report released on Wednesday. In the third quarter, Roblox saw a 20 percent increase in bookings, reaching $839.5 million, and a 38 percent increase in revenue, totaling $713.2 million.
Early this year, avatar updates increased by 38 percent to 165 billion. Millions of Roblox users bought 15 percent more digital fashion items and updated their avatars daily.
Roblox’s 2023 Digital Expression, Fashion and Beauty Trends report, surveying 1,500 Gen Z members in the U.S. and U.K. on platforms like Roblox, builds on the previous Metaverse Fashion Trends study. This study revealed that 70 percent of Gen Z users integrate their real and virtual styles.
The survey also shows that 84 percent acknowledge their avatar style influences their physical style, with 54 percent being highly inspired by avatar fashion. Additionally, 56 percent consider dressing their avatars more important than dressing themselves.
Over half of the respondents said they could allocate $10 per month for digital fashion. Nineteen percent allocated up to $20 monthly. Meanwhile, 18 percent said they were willing to spend $50 to $100 more each month.
Contrary to expectations, even older members of Generation Z, aged between 22 and 26, share similar views on the importance of virtual fashion as their younger counterparts.
“People are coming to our platform — you know, 70 million people a day, all over the world — and they’re connecting with people, their friends, and they’re working together,” Roblox chief partnerships officer Christina Wootton said. “And so it’s really important to them how they represent themselves.
“Manufacturers and brands in particular are very excited about the shortage. They can release a certain amount of items on the platform and we’ve seen amazing results.”
Wootton’s amazing results include Gucci Ancora, whose 10,000 hair items were sold out in less than an hour after launch. Another example is the Monstercat ruby pendant necklace, which sold for nearly $10,000 within minutes.
Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.
Crypto Gambling is not available at your location.
For US visitors, we recommend playing at Stake.us Social Casino instead.