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 eight-year-old son, “can I do any chores…at all?”
And then, comes the cold, hard truth.
“Because,” he adds smiling, “The Bloxberg 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, or five real U.S. dollars, a parent can buy their child 400 Robux in the now-famous game of Roblox. Once in the game, kids can purchase clothes, a house, a car, a pet. They can even go on a vacation. And, they love it.
During the Covid lockdown the company exploded. 36.2 million users are now on the platform with over 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!
I get it.
In a lockdown world, the Roblux economy is still humming. In my son’s favorite game on the Roblox platform–a game called Bloxberg–he goes to work, pays his bills, is building a home, and even starting a business selling pies–though for some reason he has been “selling” his pie slices Bernie Sanders’ style–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 are investors that may question 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 eight-year-old boys and girls at home (my twin ten-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, hey, first things first. We’ve still got to work on actually selling those pies.