Roblox had high hopes for the Chinese version of its app. However, recently it became known about its removal from local stores. At the same time, such a decision is unlikely to be connected with the current “freeze” on the issuance of gaming licenses. The company itself only notes that it is currently working on a new version of its platform for China.The Chinese version of Roblox called LuoBuLesi disappeared from mobile stores on December…

Roblox has been criticized more than once for exploiting teenagers. However, the internal economy of the popular platform hides much more tricks for young users. The People Make Games channel talked about the black market of cosmetic items and explained in detail why the Roblox trading platform resembles gambling and the stock market.

During the third quarter, Roblox earned $509.3 million and generally exceeded investors’ expectations. As a result, the company’s shares soared by 42.2%. Thanks to this, Roblox took the first place in capitalization among US gaming companies, overtaking the previous leader in the person of Activision Blizzard.Roblox’s quarterly revenue grew by 102% year-on-year.

Roblox shared the financial results of the third quarter of 2021 (ended September 30). During this period, the company managed to double its revenue to a record $509.3 million. But at the same time, her losses also increased.

Roblox is preparing to attract additional investments. She announced that she would sell senior unsecured bonds worth $1 billion.

Roblox has settled a conflict related to the illegal use of music on its platform. She announced a peace agreement with the National Association of Music Publishers (NMPA).

Roblox is preparing to implement voice chat on its platform. However, only users over the age of 13 will be able to use the new feature. To do this, the company has implemented a special age verification system based on documents and photographs.The verification system became available in Roblox on September 21.

Today, the number of UGC games in Roblox exceeds 20 million. The company itself regularly talks about the possibility of earning real money for young developers. However, in fact, the platform hides many pitfalls. The author of the People Make Games channel spoke about the means by which Roblox exploits and manipulates children.

Roblox has reported on the results of the second quarter of 2021. Almost all key indicators have grown strongly, but it still suffered losses. In April-June, Roblox lost $140.1 million — almost twice as much as at the same time a year ago.

The analytical company GameRefinery summed up the results of the second quarter and told about the main mobile genres and publishers in the USA, Japan and China. For example, American gamers like to play puzzles and give a lot of money to Roblox — it accounts for over 5% of the country’s gaming revenue.

Roblox continues to fight for its reputation. This time she signed an agreement with Sony Music Entertainment, one of the largest record companies. Together they plan to attract more musicians to the Roblox platform.

Roblox managed to partially settle the scandal related to the illegal use of songs on the site. The company has announced a collaboration with BMG, the fourth largest music label in the world. Together they plan to help artists look for a new audience and opportunities for promos.Details of the transaction, including financial ones, were not disclosed.

Roblox allows users to embed special players into the games they create, through which music can be played. Major music labels don’t like it. They accuse the company of lost profits and demand at least $200 million in compensation.The lawsuit against Roblox was filed in the Central District Court of California, The Wall Street Journal reports.

The American non-profit organization ParentsTogether has called on the creators of Roblox to stop “luring children” into a game where they “spend thousands of dollars to buy rare items.” According to the parents, the business model of the project is similar to a casino, and its users are subjected to “financial exploitation”.An appeal to the parents and creators of Roblox appeared on the official ParentsTogether website.

Global brands continue to use video games to promote their products. This time, Gucci has announced a collaboration with Roblox to create its own digital metaverse. With the help of virtual space and interactive objects, users of the gaming platform will be able to get acquainted with the history of the brand.The virtual promotion started today and will last for two weeks.

As stated by Roblox, this is consistent with the company’s vision of the metaverse concept. They say that Roblox users get into many virtual worlds where they can not only play or create their own projects, but also engage in other activities. For example, to hold virtual concerts.

Roblox reported the results of the quarter for the first time after entering the stock market. In January-March 2021, the company increased revenue by 140% to $387 million. However, it also suffered losses of $134.2 million — almost twice as much as in the first quarter of 2020.

Today, the concept of metaverses in the gaming industry is becoming increasingly popular. Microsoft reported that the authors of content for Minecraft have already earned over $350 million on it. And individual game developers for Roblox earn hundreds of thousands and even millions of dollars a year. We tell you what metaverses are and why developers are actively investing in them.

The competition between Tencent and ByteDance is gaining momentum. This time, TikTok‘s parent company has invested ¥100 million ($15.4 million) in Reworld, the local equivalent of Roblox. The deal occurred after Roblox China, supported by Tencent, received a license to work in China.