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David Baszucki, the founder of Roblox, better known as his avatar, Builderman, has recently entered the billionaires club after the continued success of the game. Roblox has become an addictive game, which at the moment, rivals social media platforms like YouTube and TikTok in terms of engaging teenagers.
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Owing to the success of Roblox and a January funding round that valued Roblox at $29.5 billion, Baszucki is now worth a staggering $2.8 billion. The billionaire now looks forward to taking his Roblox public via a direct listing on 10 March 2021. Pretty soon, players may be able to own a literal piece of Roblox.
The pandemic has only helped steer the company towards success, as kids have a lot of free time to play Roblox. According to the data, the user base has grown by an estimate of 85%, about 32 million-plus users. The in-game hours on the Roblox app and website saw similar surges happen as it leapfrogged to 124%, which adds up to a staggering 30 billion hours.
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What makes Roblox Special?
Roblox is very different from the majority of games out there. It not only allows players to play games, but it also provides tools to kids to essentially develop their own games. These games can, in turn, be sold for a profit.
It has become one of the largest and most popular sandbox games around at the moment. Despite its humble beginning in 2004, Roblox has sowed to new heights due to its blend of creative freedom and compulsive need to play.
The game has seen an enormous amount of players come into its world ever since its inception. It is currently booming with players worldwide and shows no sign of slowing down anytime soon.
The game offers gamers virtual currency known as Robux. 1$ is worth 100 of the in-game currency. Players can use the in-game currency to buy various items. Creators receive a cut from Robux player spend in the world they have created.
In 2020, Roblox’s 1.25 million creators made $216 million. Top content creators made more than $10,000 or more in real money, while elite creators walked away with over $100,000. Roblox itself generated about $924 million in revenue in 2020, nearly double the company's revenue from the previous year.
In addition to earning money through Robux, the company also sells merchandise, which kids seem to absolutely adore, like toys and t-shirts featuring characters from some of its most popular games. As mentioned before, the developers of their own games also receive a cut from merchandise, which further incentivizes the development of future games.
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