$Roblox Corporation(RBLX)$Online gaming firm Roblox Corp said on Friday it plans to launch 3D advertising on its platform next year, as it strives to diversify its revenue stream beyond in-game purchases.
It will test ads with developers and a handful of advertisers by the end of this year, Roblox said at its annual developers conference.
The 3D advertising, better known as "immersive ads", experience will only reach audiences aged 13 and above, Roblox said.
The announcement, however, comes at a time when a deteriorating economy continues to ravage the advertising industry, including giants such as Snap Inc and Facebook owner Meta Platforms .
California-based Roblox, famous for its games "Jailbreak" and "MeepCity", has felt the pinch as reopening of schools after the lockdown and the red-hot inflation crimped user spending.
To combat the cooling demand, Roblox has been doubling down on the "metaverse", a virtual space where players can do everything from hanging out and chatting to shopping and attending concerts.
Currently, it generates most of its revenue from its virtual currency "Robux", which kids use to upgrade players' avatars by buying in-game items such as accessories or pets.ies or pets.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
[Cool] [Cool]
nice:)