While in order to make money off of the platform, creators have to be at least 13-years-old, trade rare items, or create games within the Roblox world that cost money to play or have fees, kids often pay for those things without their parent’s permission due to their sneaky, tech-native knowledge - an event so frequent that it has become its own genre of a local news story. For context, a Roblox plan of $19.99 per month gets people 2,200 Robux to spend on in-app purchases - but 100,000 Robux can be exchanged for $300.00 in real cash. And over 1,250 developers were able to earn at least $10,000 in Robux, Roblox’s digital currency which can be converted to cash. In its most recent update, Roblox said that it paid $328.7 million to developers last year, which marked an increase of nearly 200% compared to 2019. Creating games can even become a lucrative opportunity for developers, as the company shares 30% of a game’s virtual sales with its creators.
The success of Roblox is in large part thanks to its developers, who are able to create their own games on the platform without needing advanced knowledge of coding. Online gaming was in a unique position to thrive amid a pandemic that kept us all inside and isolated from others for nearly a year, and now, longer. Truly, while most companies have struggled to stay afloat in the midst of the year-long pandemic, the popular online game platform’s sales have grown by 82% over the past year. And while that IPO is staggering, parents know that it’s that high because the company built its worth off the backs of annoyed parents - for better or for worse. Roblox is set to go public today after being valued at nearly $30 billion in January, with the New York Stock Exchange putting the opening price of the company’s stock at $45 per share (though that is just a guess and does not indicate where the actual price might land).
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