Lifted A.
Roblox has recently announced the launch of a new series of resalable digital wearables by creators in its UGC program. Although these digital items called Limiteds can be resold, look like an NFT, and can be issued like one, they are not NFTs.
Roblox Limiteds are not registered on a blockchain. Instead, like other commodities previously distributed in unlimited quantities inside the enormous gaming ecosystem, they continue to exist within Roblox’s internal gameplay.
Users are restricted to using Roblox-issued virtual assets while playing the game. Apart from the lack of Web3, one big caveat distinguishes Roblox Limiteds from NFTs: they cannot exit Roblox.
A down payment will be required before Limiteds become available to promote an appropriate economy where artists develop high-quality things while being mindful of the number they distribute. This payment is special to Limiteds and is determined by the quantity released and the category of asset uploaded.
Every time an item is resold, the original maker will receive a 10% reward. When an item goes on sale, the platform will reimburse the creator with respect to the number of products sold. This additional payment is made through Roblox’s 30% platform share.
The share of profits for the initial sale of Limiteds is the same as it is for all other sales on Roblox. The item’s creator receives 30% of the proceeds. The item’s seller or distributor receives 40%. The platform receives 30%. The creator will also get a percentage of their initial contribution back.
Earlier this year, the gaming platform revealed 67.3 million daily active users. This announcement proves that Roblox is paying attention to the trend of NFT-focused digital items used in Web3 games.
DSTLRY is also issuing a limited number of resalable virtual comics on its marketplace. However, these comics are not on a blockchain and can’t leave the DSTLRY platform. A part of the proceeds goes to the creator everytime a comic is resold. This situation is similar with Roblox’s Limiteds.
About the UGC Program of Roblox
Roblox’s User Generated Content program allows players to create and sell virtual items on the platform. This program was launched in 2018 and has since become famous for users to showcase their creativity and make money.
Once approved, users can create and upload their virtual items, such as hats, clothing, and accessories, to the Roblox catalogue.
