Avatars grow up so fast… Tween-favorite gaming platform Roblox announced it has 43M daily users — double what it had two years ago. Roblox, which went public in March and has a $44B market cap, is like YouTube for user-generated games (think: Lego-like avatars). This year Roblox expects to pay out $500M to 1.3M content creators.
Adulting welcome… It’s not just young kids Robloxing. Last month Roblox said that for the first time over half its users were older than 13. Last week it announced several features to appeal to non-tweens and adults:
The race to the metaverse is on… And safety is key to success. Roblox wants a piece of the metaverse market, which could hit $800B by 2024. Think: hanging out in VR with your friends' avatars, and entering VR stores where you can shop "in person" and online. Epic Games, ByteDance, and Tencent are also building metaverse experiences, and Facebook just announced plans to hire 10K metaverse-focused employees. But Roblox’s platform, which is already kid-focused, could appeal to new users looking for the safest metaverse.