Here’s what Roblox is about to do in pursuit of revenue growth

Roblox Corp (NYSE: RBLX) just awarded the premium subscribers on its app an ability to sell 3D assets to other users.

What’s in it for Roblox?

So far, they had to request to be a part of its UGC programme and were allowed to sell 3D goods only if their application was approved. But now, as per Manuel Bronstein – the Chief Product Officer of Roblox Corp:

Now you have the marketplace open to everybody, and you will have the opportunity to have a lot of creation on the platform.

The stock market news arrives about a month after Roblox Corp said its loss widened in the second financial quarter as Invezz reported here.

Shares of the gaming platform are currently down about 40% versus their year-to-date high.

Roblox announces an AI assistant

Roblox has been struggling with the pace of revenue growth this year – which was up 15% in Q2. That’s weak in comparison to peak of the pandemic when its revenue more than doubled year-on-year in several quarters.

But the announcement today will likely breathe new life in revenue growth, its CPO Manuel Bronstein said in an interview with CNBC.

We know that with increased creation comes more engagement and more users.

Note that Roblox Corp had ventured into advertising last year to revitalise revenue growth. On Friday, the New York listed firm also announced a digital assistant much like the ChatGPT to make it easier for users to create content.