Saturday Sep 10, 2022
Online gaming firm Roblox 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 developer's conference.
The 3D advertising, better known as "immersive ads", 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 and Facebook owner Meta Platforms.
California-based Roblox, famous for its games "Jailbreak" and "MeepCity", has felt the pinch as the 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.