Roblox is pushing to expand its footprint in the education segment, pointing out that the Museum of Science in Boston has used its platform to create immersive interactive experiences. It's referring to its platform as a "human experience platform" rather than a gaming platform. Roblox is expanding access to its platform to include the Sony Corporation (NYSE: SNE) PlayStation 5 and Microsoft Corp. Nearly 70% of Roblox users access it through a mobile device. However, there's too much competition, and the appeal of blocky avatars on a kid's platform doesn't stick for adult gamers. Roblox has been trying to expand its core audience to tap into the adult gaming demographic, investing in more immersive technologies. However, those significant tailwinds have disappeared, and the normalization process has been underway. The company experienced unprecedented growth during the pandemic as kids stayed home with nothing to do. (NYSE: EA) and Take-Two Interactive Software Inc. Falling net bookings are echoed among video game publishers, including Electronic Arts Inc. This has been the underlying headwind, along with a 4% swing in FX impacts causing users to pull back on their spending but not their engagements. But weak macroeconomic headwinds have caused pullbacks in discretionary spending. Robux lets users buy digital items, characters, accessories, skills, and tools. Robux is used for microtransactions ranging from fractions of a penny to hundreds of dollars. Roblox makes its revenues from Robux currency which can be purchased online, through the app, and in retail stores as physical Roblox cards. It's free to use, but purchasing its Robux currency offers more options and privileges. Roblox is its metaverse, complete with its currency. The platform enables users to develop, play, share, and monetize games. Most Roblox users are kids 16 years and younger.
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