Roblox introduces Limiteds, digital items that function like NFTs but without being on the blockchain. Although not exactly like an NFT, its digital properties exhibit similar behavior to how an NFT should be. What does this exactly mean for Roblox?
Roblox has recently introduced a new line of digital wearable known as Limiteds. Although strangely similar to NFTs, a few stark differences can be seen once we take a closer look into this recent update.
Roblox Limiteds
Limiteds are primarily in-game cosmetics such as hats, skins, toys, and more that can be purchased by players but more importantly can be resold in secondary markets. A portion of each sale goes to the item’s creator, similar to how it works for NFTs in Web3.
These items are similar to NFTs in that they can be bought and sold by players.Further, they also offer an incentive to resell due to its inherent secondary sale capabilities. However, there are some key differences between Limiteds and NFTs.
First and foremost, Limiteds are not on the blockchain. This means that they are not quite as secure as NFTs and do not benefit from the same interoperability that is a hallmark of the blockchain. However, they are still a significant development for Roblox and its players.
One key feature of Limiteds is that creators receive a cut of each sale. Specifically, creators receive a 10% cut of each secondary sale of their Limited. This means that there is a financial incentive for creators to produce high-quality, desirable items that will continue to sell well on the secondary market.
While Roblox’s Limiteds may not be true NFTs, they still represent a significant step forward for the game and its players. By introducing a new digital item that can be bought and sold in secondary markets, Roblox has shown that it is willing to embrace the dynamic environment that NFTs allow.
At the same time, however, it is clear that the game is not entirely devoted to diving headfirst into the world of NFTs and the blockchain. Gaming companies such as Ubisoft and Square Enix have dived into Web3 gaming via their own projects. Symbiogenesis is gaining an audience online, having posted daily updates revealing the lore behind its mysterious setting.
Final Thoughts
The introduction of Limiteds is just one example of how the gaming industry is evolving in the face of new technologies and new consumer demands. As more and more players become interested in NFTs and blockchain gaming, it will be fascinating to see how established gaming companies like Roblox respond and adapt to these changes.