A new report warns brands not to invest in sandbox games from Roblox and other metaverse companies, suggesting that the hype surrounding the metaverse concept may be overblown.
Nicknamed “Metaverse Manifesto: A Realistic Look at the Next Digital FrontierA report from measurement-focused research agency Essence suggests that with 54.1 million daily active users in the first quarter of 2022, Roblox remains disproportionately small compared to the likes of Twitter, which has 229 million daily active users. users and Facebook, which has 1.93 billion subscribers.
This also indicates GWI Report 2021, a consumer analytics reporting tool, to support the idea that the idea of a metaverse is causing some confusion among consumers. The report surveyed people in nine markets and found that only 33% of people understand the metaverse concept, 37% have heard of it but don’t know what it means, and 30% have never heard of it.
Roblox users tend to be relatively young, with a report saying that more than half of its users are under the age of 13. However, these statistics may be out of date because Roblox reported in the third quarter of 2021 that 50.4% of its daily active users were over the age of 13, and recent reports indicate continued growth in older players.
Despite this, in November 2021, only 30% of Roblox players were over the age of 17., confirming the conclusion that the platform’s user base is relatively young. However, that seems to be changing. The Roblox Q2 2022 earnings report notes that men and women from 17 to 24 years old they are the fastest growing demographic in business.
Ultimately, the report states that the Metaverse is “being built for Gen Z, Gen Alpha, and everything that follows.” But that’s not necessarily a bad thing, Essence notes.
“And just like Generation X didn’t stop playing video games when they grew up, these kids aren’t going to stop this behavior,” the post reads.
The report also addresses the controversy over whether the metaverse will adopt Web3 technologies such as blockchain, cryptocurrencies, and NFTs. There are also security and moderation issues affecting platforms like Roblox and Facebook Horizons.
“Gaming platforms have already become hotbeds for vulgarity and harassment. Add to that politics, dating, and heavily restricted adult content, and it all looks a lot like the real world,” the report says.
Finally, the report addresses sustainability issues, noting that the underlying technologies supporting the metaverse contribute to high greenhouse gas emissions. The metaverse also contributes to e-waste by requiring infrastructure like servers and devices to operate. As technology advances, people often discard their hardware to make way for new products.
Ultimately, the report argues that companies should be cautious and consider experimenting with metaverse activations if they have the budget, noting that it would be better to experiment early than fall behind. However, this remains a difficult question for brands as the metaverse concept is still in its infancy and the potential of what is possible remains unclear.
Consumer enthusiasm for the metaverse could also wane. Roblox’s Q2 2022 earnings report showed that the company missed expectations in terms of number of preorders and saw a decline in overall user growth. This caused Roblox shares will fall 12% on August 9 and continued to fall to $46.10 per share, a far cry from its November high of $134.72.
While the outlook isn’t as rosy as it once was, that hasn’t stopped brands like Gucci and Tommy Hilfiger from investing in the Roblox metaverse. In an effort to reach and engage with new audiences, these companies have created their own Roblox worlds, which include exclusive mini-games and avatars that players can earn by completing certain objectives.
For more information on how to get a free avatar, check out our list of Roblox promo codes for August. For music lovers, you can also check out our list of Roblox music codes for August and learn how to activate them. You’ll want to show off your new outfit and listen to your latest tunes, so visit our list of the best Roblox games in 2022 to learn more about our favorites.
Source : PC Gamesn
