Roblox Corp (RBLX.N), an online gaming company, announced on Friday that it will introduce 3D advertising on its platform early in the following year in an effort to diversify its revenue sources beyond in-game sales. By the end of this year, it will test ads with developers and a small number of marketers, Roblox announced during its annual developers conference.
The 3D advertising, better known as “immersive ads”, experience will only reach audiences aged 13 and above, Roblox said.
The announcement, however, comes at a time when a deteriorating economy continues to ravage the advertising industry, including giants such as Snap Inc (SNAP.N) and Facebook owner Meta Platforms (META.O).
California-based Roblox, famous for its games “Jailbreak” and “MeepCity”, has felt the pinch as reopening of schools after the lockdown and the red-hot inflation crimped user spending.
To combat the cooling demand, Roblox has been doubling down on the “metaverse”, a virtual space where players can do everything from hanging out and chatting to shopping and attending concerts.
Currently, it generates most of its revenue from its virtual currency “Robux”, which kids use to upgrade players’ avatars by buying in-game items such as accessories or pets.
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