Roblox is an online gaming platform and game creation system developed by Roblox Corporation. Founded by the likes of David Baszucki and Erik Cassel in 2004, went into beta in 2005, and was released in 2006, it is a platform that features unique user-created games of countless genres encoded using the Lua programming language. It allows its users to develop games and play games developed by other users.
It is free-to-play with In-app purchases which are made available through its in-game currency called “ROBUX“.
Roblox has over 165 million monthly users on its platform Most of the players in the squad are under 13.
2 out of 3 kids between the age of 6 and 16 in the US have a registered account on the platform. The company pointed out in its filings with the Securities and Exchange Commission that such a young user base could lead to more control for the company. Baszucki, however, said the company is approaching the point where most of its players are not tweens. The group of 17 to 24-year-olds among Roblox users is growing.
Roblox was small most of its existence mainly because of the lack of press coverage and the release of a large no. of platforms around the same time. it began to rapidly grow in the second half of 2010 and this growth was then enhanced during the Covid pandemic.
The company recently went public and is valued at over $45 Billion.
Visual Identity of Roblox
image credit @Roblox
The silver, grey, and black icons of the company represent the company as stable and self-confident. The choice of calm and austere colors explains the fact that the company focuses on the quality and diversity of its content, awareness, and recognisability. After the name change of the brand in 2004, a redesign was not completed and more than ten different emblems were created. the name has been changed four times during its existence and each time a new logo has been made.
Early development of Roblox
image credit @Roblox
In August of 1989, David Baszucki founded a company named Knowledge Revolution in August of 1989, which concentrated on, mechanical simulation software, and educational physics. During the time as president of the company, he met Erik Cassel
After the company was bought by MSC Software for 20 million USD, he and his business partner Erik Cassel took on a senior position in the company. This gave them the freedom to make an exciting new start: the creation of Roblox. This happened in 2004, when they worked together in an office in Menlo Park, California, consolidating their concept and starting work on a new project. They took their love of physics and decided to turn it into a fun game for children. They remained friends and, after a few years at MSC Software, decided to start another new project together
Seeing children doing amazing and funny things with his programs, he got the inspiration for Roblox. He started working on his idea in 2004, and in 2005 a version was made available for beta testing. In 2005 it came out of beta and was renamed Roblox. It is interesting that the application was originally called Dynablock during its first test phase.
image credit @ Roblox
Additional features were added in 2007: private messaging, a search bar, ticket developers, clubs, and character customization. The first currency Roblox used was “Roblox Points.” These were issued as daily login bonuses for playing mini-games. This was changed to “Robux” on 14 May 2007.
Another form of currency that was discontinued was Tix tickets. Players would get a few Tix per day if they logged into Roblox and could exchange them for Robux. Tix tickets were removed from the platform in March 2016.
In March of 2007, Roblox added a safe chat feature which means that children under the age of thirteen can interact with other players via predefined messages from a menu. Considering that Roblox is very popular with children, the Safe Chat feature is handy. It is a necessary feature that is integrated as Roblox became compliant with COPPA. around 2016, the safe chat feature was permanently removed and replaced by a new system based on a set of acceptable words for users under the age of 13 and a certain set of blacklisted words for users of older age.
the Developer Exchange program was launched by Roblox on October 1 of 2013, it gave developers the ability to exchange Robux earned from their games into real-world currencies. To make money, you must be over 13 years old, have a premium membership, and have at least 100,000 Robux in your account. You can also exchange at least as much Robux with the company for real money.
Image credit @ Roblox
As the game became more popular, they began to broaden their horizons., Roblox opened it up to mobile devices, On December 11, 2012, an iOS version of Roblox was released. and in July of 2014, a version for the Android was released. To date, 75.4% of its mobile revenue comes from Apple devices.
Although having a web presence in windows since 2004, The company released a standalone launcher compatible with windows 10 in June of 2016.
On March 31st, 2015 Roblox updated its physics engine from a block-oriented style to a smoother and more realistic style,
On November 20th, Roblox was officially launched on Xbox One, with just a selection of 15 games that were chosen by Roblox staff. Any new Roblox games for the Xbox One now have to go through an approval process and are subject to the Entertainment Software Ratings Board standards.
Roblox updated its outdated server technology throughout 2017 -19, the old technology was very frequent of outages because of that the company removed the guest mode which allowed users to play Roblox without the need for an account.
The Roblox game studio
image credit @ Roblox
The Roblox game studio is a proprietary engine developed and managed by Roblox corporation that allows users to create their own game which will then be played by other users. every year 20 million games are produced using this and the majority of the developers being young children. using the programming language Lua games are coded in an object-oriented system. Micropurchases as well as one-time purchases known as “GAME PASS” can be obtained to create purchasable content for the game. the revenue is then split between Roblox and the developer.
Virtual items marketplace
Image credit @ Roblox
This is a stand-out feature of the platform. it allows its users to create, buy and sell virtual items for their avatars. anyone can create clothes but only the members with a premium membership can sell their clothes. only administrators can sell gears, packages, and accessories. this allowed several individuals to do this as a full-time job some are even making upwards of $100k per year.
The official currency of Roblox is known as Robux. it is used to buy items on the platform. it can be earned in a variety of ways like:-
- Using real-world currency to buy it
- buying a premium membership and getting a stipend
- Creation and selling of virtual items.
Effects of the pandemic
Image credit @ Roblox
Roblox was affected by COVID-19 in a number of ways, Due to the limiting of social interactions, Children were using Roblox as a medium to communicate with their friends. The fact that there were birthday parties were being held on the platform blows my mind. In response to the pandemic, Roblox introduced “PARTY PLACE” a place for online hangout. Like everyone in the gaming industry COVID-19 caused a rapid increase in both the platform’s userbase and revenue because players were forced to remain indoors. The valuation of the company skyrocketed from $4 billion to $29.5 billion during the pandemic.
Popular games on the platform
Roblox has a big range of popular games with the most popular once’s gaining over 10 million monthly users. 20 games on the platforms have broken the playing time of one billion.
let’s look at some of the popular titles in Roblox.
This game is among the most popular games on the platform. it is a cop and robber game and gets ten’s of thousands of daily users. according to a report in august 2020, this game has been played a whopping 4 billion times. It made a feature in Roblox’s “ready player one” event.
its developer completed his undergraduate at duke university using the funds he made from the game.
Adopt me! is an MMO, RPG game where the player pretends to be a parent adopting a child or become a child getting adopted. the game focuses mainly on caring for pets and the adoption thing, it is by far the most popular game on the platform being played a tool of 10 billion times and was averaging 600k users in August of last year the creator of the game DreamCraft made $16 million from microtransactions alone. this was due to the fact of the high selling price that the pets were going, some rare ones were going for an upward of $100.
Uploaded to the site on January 2020, it was played 5 billion times as per the data of July 2020. It is a horror-style game that features the elements of Peppa pig and the indie game into a zombie apocalyptic setting. its amazing episodic storytelling resulted in a significant rise in its fanbase which leading to its story finale on 25th May 2020. since then a sequel titled Piggy: Book 2 has been published in December 2020.
Work at a pizza place
This game is a Roblox classic, it is a game that allows the users to work at a pizza place and fulfill the orders of the customers. its socializing ability is a major reason for its success plus its driving mechanism has been praised among the community it is one of the oldest games on the platform that is still very popular among the userbase.
Roblox officials once said during a 2017 developer conference that the creators have collectively earned over $30 million as of 2017. 2 years after that ios version of Roblox collectively passed $1 billion in revenue in November 2019 shorts after it reached $1.5 billion in June of 2020 and in October it already crossed the $2 billion mark making it the second-highest revenue maker on IOS. it has been estimated that the developers collectively will make over $150 million from 2020 alone. Overall Roblox was the third highest-grossing game of the year with a revenue of $2.29 billion in 2020.
Roblox got listed at the new york stock exchange this month with a listing price of $45. it debuted on wall street, increasing 55% to $69.5 resulting in the increased valuation of the company to over $45 billion.
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