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Roblox CEO says we’re “in the middle of the Metaverse right now”

Roblox CEO says we’re “in the middle of the Metaverse right now”
Jordan
Major
1 week ago
4 mins read

Roblox (NYSE: RBLX) CEO Dave Baszucki discussed with Emily Chang of Bloomberg Technology on November 17 about the business’s soaring market capitalization, which has propelled it ahead of Activision to become the most valuable gaming company in history. 

Since Roblox has just taken over Activision, Baszucki was asked if there is a shift in terms of the kind of games people want to play today and in the future.

“We shared a vision today of this future category, sometimes called the metaverse. We think of it as a human co-experience category that supports people coming together to socialize, to learn, to play, someday to work to experience entertainment and amazing brands,” Baszucki said.

Notably, Roblox gets more than 43 million daily active players across various platforms such as iOS and Android smartphones and tablets, desktops, and Xbox, among others. Furthermore, with over $3 million in daily revenue, the platform has dominated the US iPhone gaming industry. 

Roblox and the Metaverse

Nevertheless, the co-founder doesn’t consider Roblox to be a gaming company perse. He noted that millions of artists create incredible games and experiences on the platform, which is sometimes used for their games and other times for our music events. 

In that circumstance, he is not sure whether it’s a case of the guard changing from Activision to Roblox as much as it is the emergence of a new category regarding transitioning to the Metaverse.

When questioned about how far away is this Metaverse and how is Roblox going to get us there, Baszucki stated:

“We’re actually in the middle of it right now. There are over 200 million roughly monthly people on the roadblocks platform every month. They do a lot of things. They have an identity; they have an avatar. They do stuff together. Sometimes when they can’t be together in person, they’ll go to a birthday party together or graduate from high school together.”

With Facebook having just changed its name to Meta and seemingly attempting to gain control of the Metaverse. Asked whether it would be possible for any one firm to be able to claim ownership over this new virtual world. 

The CEO remarked: 

“Yeah, we’re really, I think, early in this. This amazing opportunity. I think it’s going to change the way people both communicate the way we share stories. I think ultimately it’s going to allow people to learn together in interesting new ways. As more people are working remotely, it’s going to power that as well.”

Metaverse going mainstream

Indeed, within a week of Facebook, a subsidiary of Meta Platforms (NASDAQ: FB) announcing its name change, most Metaverse tokens increased in value. 

Cardano (ADA) Founder Charles Hoskinson recently revealed his opinions on the Metaverse and how its connection to the cryptocurrency field has lately caught his interest.

Hoskinson said that interfaces are evolving; advances in artificial intelligence, semantics, and interfaces imply that Web 3.0 is a thin layer and a vertical one, with the Metaverse living above it.

“You can either overlay onto the physical world digital attributes like when you look at a building like a restaurant it shows you on your AR glasses what time does it open what time does it close or you can go completely into the digital world and actually have a virtual reality experience,” he said.

In comparison to Roblox using the Metaverse in tandem with education and experiences, the crypto space is using non-fungible tokens (NFTs) to represent ownership of assets in a virtual Metaverse; developers want to go beyond gaming into industries like fashion, architecture, virtual concerts, and performances.

Watch the full interview: Roblox CEO on Market Cap, Metaverse

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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