Brands are chasing ways to connect with hard-to-reach younger consumers in the Gen Z and Gen Alpha set.
With a social gaming metaverse like Roblox that is popular with teens and preteens, the platform is gaining attention from global brands interested in connecting with a youthful user base.
Statistics show Roblox reported 56 million daily users for 2022, up 23% from a year earlier.
Already, the non-stop metaverse chatter has taken a back seat in the industry, and the tech giants’ focus has shifted to generative AI models.
Thus, we envision that the Roblox move will tend to widen the gap between brands and the metaverse.
Because brands and marketers are yet to crack if the metaverse is the right investment for them or how they can position themselves in this virtual ecosystem to create genuine value for audiences, and so much more.
With Roblox being fertile land for brands that are still eager to experiment in the metaverse, the tough legal situations again pose a dilemma for brands.
Particularly, we believe Roblox's decision to take action against third-party ad networks will be a setback for the in-game advertising sector, as they are already lacking premium ad inventory.
Metaverse: Undoubtedly, the metaverse has the potential and is full of possibilities for brands and marketers to reach their target audiences effectively and in an innovative way. But it is apparent that it is not getting any closer and is only going far away.
New ad policy change: Although Roblox’s decision to bring more ad transparency to the platform makes sense given the privacy-centric future, it remains to be seen how far the move satisfies the questions thrown at the platform.