Trish Regan: Inside The Roblox Craze… How a Video Game Teaches Real-Life Economics December 23, 2020 By Trish Regan
It’s like music to a mother’s ears…
“Mom, can I do anything to help you? Can I clean the kitchen? Can I make your bed? Do you need me to take out the garbage? Please,” pleads my 8-year-old son, “Can I do any chores at all?”
And then comes the cold, hard truth.
“Because,” he adds smiling, “The Bloxburg winter update is coming.And I really need to earn more Robux so I can buy a Christmas tree!” Robux: The Crypto Currency for Kids
Robux, robux, robux.Get used to that word.It’s the digital currency for the 8- to 10-year-old set.
In fact, I’m quite certain my son understands the value of Robux far more than he does an actual U.S.dollar.
For $4.99, a parent can buy their child 400 Robux in the now-famous online game of Roblox.Once in the game, kids can purchase clothes, a house, a car, and a pet.They can even go on a vacation.
And they love it…
During the COVID-19 lockdown, the company behind the game, Roblox Corp., exploded… 36.2 million users are now on the platform with more than 8 billion hours of engagement overall.
Revenue jumped 91% from a year ago to $242.2 million for the quarter – bringing the amount earned to $1.2 billion in the first three quarters of the year.And there’s still another quarter to go!
In a lockdown world, the Roblox economy is still humming.My son’s favorite game on the Roblox platform is a game called Bloxburg… He goes to work, pays his bills, builds a home, and even started a business selling pies – though for some reason he has been “selling” his pie slices Bernie Sanders’ style… aka GIVING them away.(We’re working on that.)
He’s learning real-world economic lessons in a virtual 8-year-old world.In fact, he recently had to downsize his home because his utility bills were too high! (Time to up prices at the cafe, I explained.) A Highly Anticipated IPO
The Roblox company recently announced its intention to go public… And though there were some investors who questioned whether Roblox will remain popular in a post-COVID world, I suspect it’s a trend that is here to stay.
For those of you with 8-year-old boys and girls at home (my twin 10-year-old daughters are now huge fans, too), you know EXACTLY what I’m talking about.
For those of you that have no idea… well, you must not have young kids.
So, my advice is to study up fast… This company could prove to be one heck of an IPO.
And my son might just even need to buy a share.I figure it could be a great mommy-son lesson in how the stock market works.
The good thing is, we still have a little time before the IPO.
And first things first… We’ve still got to work on actually selling those pies.
Recommended Reading: A Massive Wave of Bankruptcies is Coming A major shock is coming to the U.S.financial system.The election results won’t matter (but a long court battle or a wave of riots could make things MUCH worse).Months of stock gains could go up in smoke.
But there’s an easy way to make sure your money and prospective gains are LEGALLY-PROTECTED.The last time something similar happened you could have seen 772% gains.A real reader explains how he does it, in plain English, right here .
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