Roblox stocks dropping: Is Wall Street’s honeymoon in the metaverse over?

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While Fortune100 companies around the world are hiring self-proclaimed Web3 consultants to find their “metavars strategy”, Robolox’s stock is experiencing some serious downturn. As children return to classrooms and soccer (football!) Practice, the frequently labeled “covid stock” is seen “back to normal” in a different light. Meanwhile, Venture Capital is rushing into blockchain games (છેલ્લા 1B funding in the last month alone), and any startup pitch deck that mentions “Web 3 Disruption” on its cover slide.

While Adidas buys virtual lands in The Sandbox and teamed up with a choice of board apps and when Nike acquired RTKFT and co-dropped the first NFT, recently launched a mini-world in Roblox like Ralph Lauren or Vance, in 2021. Seems. But make no mistake. Roblocks, up to a mile away, are the closest thing to “metavars” where people actually spend time and do things on a scale. In the chaos of virtual real estate booms and NFT Ponzi schemes, can Roblocks’ strategy of not chasing the latest buzzwords and cash-grabbing opportunities help them win in the long run?

Roblox is the digital economy of today, the future

When video games are referred to as the tipping edge of metavers, we mostly think of a place where people hang out for longer than just playing, attending events, and showing off their outfits. Roblox takes things forward with an early version of an already structured and sustainable virtual economy. The goods and services, the tools to make it, the currency and the marketplace to sell and resell it (last year the Virtual Gucci handbag sold for + 4000, more than the actual bag), all this creates real jobs.

It is also a community that has grown 40% year-over-year, attracting a higher age population by managing to enter Pratin (17-24YO + 51% growth) and new markets – India and Japan + 100% Have grown more than. And with the recent launch of Roblox Education, which includes a 10M fund to support developers bringing educational Roblox experiences to teachers in the classroom, the platform could be seen by entire generations to see Roblox not only as a play but also as the future of work.

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Roblocks is never about chasing hype

Roblocks is not the only metavars stock that is underperforming. Facebook’s Meta, Nvidia, Marvel, Microsoft are all in free fall. Zuckerberg’s announcement to rebrand Facebook as a meta was a distraction point for the market, and perhaps harmed the entire ecosystem. Soon, the value of the decentralized virtual currency MANA skyrocketed, eventually leading to a વેચા 2.4M land sale. Sandbox received a $ 96M investment from Softbank and spent $ 4.5M in-game to acquire a plot next to Snoop Dogg’s virtual mansion. Axi Infinity hits $ 4B in NFT sales.

In practice, though, the world still looks like the soon-to-be-acquired versions (not to mention haunted towns) with many expensive entry tickets. It’s a dream we’ve sold recently. The virtual world is not a dream where we can escape and enjoy, the illusion that if we bet on the right piece of land, sporting property or expensive JPG, we can cash in and live happily ever after. More recently, the story surrounding Metavers has been clinging to short-term cash-grabbing, while Roblox has been doing brick-by-brick innovation around clear vision for the past 17 years.

The status of Robolox on NFTs is yet to be determined

The elephant in the room is this: can the Roblocks win some of their assets without making NFTs, retain the value they put in players, reach a wider secondary market, or (let’s have bigger dreams) potential interoperability between other worlds?

For now, Roblox argues that it is impossible to monitor off-platform transactions and block claims. The company has always taken security very seriously, especially given how young the audience of Roblocks is (something that even blockchain-based worlds can learn).

It is unknown at this time what he will do after leaving the post. Some Roblox experiences currently make digital items available on NFT marketplaces such as OpenSeas. What’s more, if the company continues to experiment – it won’t jump on the NFT bandwagon as it is considered a metavers-ready (or new feature to add to please forecast analysts).

NFT enthusiasts will argue that Roblox wants to control players in the ecosystem and keep it closed, by preventing a more attractive economy for players. NFT Septics will say that unless digital ownership adds real value and usefulness to real Roblox gameplay, why risk seeing a sustainable built-in virtual economy, turning into a gambling platform?

The next iteration should be enough to excite the markets

Rollbox is not currently joining the NFT discussion, so it seems. Instead, the company is making progress on a more important front: players, not just investors, who care. In the coming months, updates will make in-game fashion more realistic and desirable, developers will be able to test new facial animation features and continue to improve and roll out voice chat. Interestingly, Roblox will also make it easier for players to drop and resell limited edition items – a non-NFT asset, within the Roblox ecosystem.

“Self-identity is a crucial pillar of Metavars,” said Roblocks CEO David Bazuki. Just ask any 14-year-old if they care if the identity is built on a blockchain. It will then become clear that for the time being, between the tendencies of self-fulfilling prophecies of Wall Street and Silicon Valley, there is no light on our future digital life like Roblox.

Samuel Greenfeder, Creative Strategy Director and Metavers enthusiast of SuperUnion,

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