This video game turns teenagers into millionaires – and it's about to pay $ 70 million more this year

• Roblox, the video game application that is very popular with young players, is about to pay $ 70 million US to its developers this year. That's up from US $ 30 million last year.
• There are 4 million developers building 400 million Roblox games. They are all free to play, with the Robux premium currency as a way for developers to monetize – which has made young millionaires.
• Now, the company is looking for ways to increase opportunities for developers, says David Baszucki. . To this end, Roblox has hired former Director of Enrico Enrico D'Angelo as vice president of products for the development platform.
• Roblox would have a fundraising of value as high as 2.4 billion US dollars

You're under 18 or know someone who's there, there's Chances are you've heard of Roblox, a massively popular online gaming platform with 64 million players who also turned three teenagers into millionaires last year. is host of its annual Roblox Developers Conference in Burlingame, California, which is very close to San Francisco. At the event, the company will tell the four million developers who build games for its platform that it is on track to pay them $ 70 million this year. That exceeds the $ 30 million paid out in 2017.

"The size of our opportunity here is huge," says David Baszucki, CEO of Roblox, at Business Insider.

himself. Earlier this year, Roblox announced for the first time a positive cash flow with "hundreds of millions of dollars bookings" in 2017. More recently, Recode reported that Roblox is raising funds for $ 2.4 billion. , quoting a company filing. Baszucki declined to comment

Unlike "Fortnite" or most other successful video games, Roblox is entirely created by its users. All 40 million Roblox games, including hits such as "Meep City" and "Jailbreak", were created by its base of mostly younger independent developers. If a player chooses to spend the bonus, robux virtual currency in a game, the developer gets a cut.

And that means a great opportunity for Roblox developers: In 2017 alone, one of the best creators has released more than claiming 2 million US dollars. Others pay for their college education, or even start their own business to make more Roblox games.

Now, says Baszucki, as the platform grows, developers also have the opportunity to do it. Although not all Roblox creators can make millions, he says that "the long line of developers who earn their living has grown exponentially" over the past year.

To continue its momentum, Roblox hired Enrico D'Angelo as vice president of product for the development platform. The goal is to continue to build behind-the-scenes tools that developers are using to build their games, in pursuit of what Baszucki says to be the ultimate and ambitious goal of the Roblox platform.

"We have a huge vision of a new category for human interaction, and ultimately, immersive entertainment," Baszucki says.

Subsequently, Baszucki also highlights the educational efforts of the company: This summer, Roblox has or will manage more than 500 coding camps and other introductory courses, using his platform as a tool d & # 39; learning.

in the United States, and abroad in countries such as Canada, Brazil and the United Kingdom, highlighting what Baszucki sees as a major opportunity to bring the platform to an international audience .

For more established developers, Baszucki says Roblox is working on ways to engage with developers and help them be more successful. For example, the company began inviting developers to come to its Silicon Valley offices for two- or three-month residencies, giving them direct access to the people who make the platform.

"We develop a lot of resources Finally, Baszucki says that if Roblox really reinvents entertainment as he believes, the company will continue to redouble efforts to find other ways for developers to monetize their games.The company has recently launched in the figurines and apparel business, putting on sale popular characters of the best Roblox games – it says there is no reason for that Roblox games do not inspire movies, TV shows or web series.

"[Developers’] 's vision goes beyond gameplay creation," says Baszucki. stories, avatars, and situations are of enormous value. "

Now, Watch: Tech Insider Videos

Want to read more about trends influencing Australian business and the global economy? BI / Research is designed to assist the s leaders and industry leaders understand the key challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.