Yesterday, Roblox denied claims from crypto payments processor BitPay that the gaming platform was set to integrate $XRP. The denial came after BitPay made a post on X that Xsolla, a video game commerce company, now accepted $XRP for payments on games. BitPay tagged Roblox and Smite in the post.
The “news” spread like wildfire on social media, with one crypto influencer saying that the news indicated a better legal environment for $XRP, the parent company of which has been involved in a prolonged court battle with the U.S. Securities and Exchange Commission. Many news organizations, in Web3 and outside of it, wrote about the Roblox-$XRP integration as well.
When some news organizations reached out to Roblox for confirmation, the gaming platform refuted BitPay’s claims, saying it has no plans to integrate cryptocurrency at the moment. BitPay later deleted the post on X, stating that it contained inaccurate information. Xsolla distanced itself from the post, saying it had nothing to do with it.
The news, if true, would have been big. Roblox has 66.1 million daily active users and 214 monthly active users, with 44% of them under the age of 13. In the first two quarters of 2023, the gaming platform generated $1.3 billion in revenue. All told, Roblox has had over 12,000 billion hours of user involvement since its launch in 2006.
Time will tell if Roblox integrates cryptocurrency in the future, but there’s no doubt the platform is doing well without it. There may also be a lesson here in social media and the spreading of rumors, but Rarity Sniper will leave that one untouched for now.
Roblox ‘Metaverse’ Booms in Bear Market
The success of Roblox has been a hot topic for some time. Some may consider it a type of metaverse, and it certainly has many Web3 characteristics: a virtual world, a builder’s paradise, and plenty of games to enjoy. During the bear market, many global companies have seen the potential of using Roblox to reach a younger audience. Here are three such stories.
First, two months ago, K-Pop sensation Blackpink unveiled a Roblox metaverse experience called “Blackpink: The Palace.” The permanent hub will function as an interactive space where the group’s fans can celebrate the group’s music. Through “Blackpink: The Palace,” users can take pictures with the band members and participate in games.
Next, five months ago, Mattel and Forever 21 teamed up for an exclusive Barbie activation in the Roblox metaverse. Through the activation, users were able to peruse an AI-designed clothing line and receive free-to-claim metaverse surprises. The collaboration also included Virtual Band Group, which has worked with “The Voice” for other metaverse activations.
Lastly, nine months ago, the NFL announced it was throwing its first-ever virtual Super Bowl concert, with the location being Roblox. The concert was part of the NFL’s larger push into Web3, which included the launch of NFT collectibles on the Flow blockchain. Hip-hop star Saweetie was the concert performer.
As these stories show, Roblox has become a go-to metaverse for many companies, likely due to its popularity and the age of its users. Rarity Sniper will keep an eye out for any developments in this story and update it if needed.