Roblox, the online gaming platform, has officially launched a $35 million Creator Fund, expanding beyond just game development. The fund aims to tap into the burgeoning creator economy by supporting creators building experiences beyond games on the Roblox platform.

“The newly titled Creator Fund, previously Game Fund, brings new opportunities for Roblox’s network of creators across the globe,” Roblox VP of Developer Relations Matt Curtis has told Fast Company. 

“Our Creator Fund allows even more creators and IP holders to join the program while still staying true to its original mission of empowering creators who want to build something that has never existed before.”

The move reflects the company’s ambitions to evolve beyond gaming as its user base expands. The platform reports over 71.5 million daily active users, with nearly half identifying as Gen Z. “As a platform, Roblox has already evolved far beyond games,” Curtis notes.

The fund opens up new frontiers for creators on Roblox. Historically limited to innovative gameplay projects, the Creator Fund now encompasses developer studios and users creating non-game content and experiences. Approved projects gain access to intellectual property from Roblox partners like Nickelodeon’s Avatar: The Last Airbender.

One of the first partners utilizing the retooled fund is Neura, an independent studio behind Clip It – a short-form video creation tool similar to TikTok and Instagram Reels. “Clip It is designed for easy creation and sharing of short-form-video content, allowing users to quickly create characters, make memes, follow fashion trends, and share stories,” Neura Studios founder Yevheniy Shestopalko explains.

Creators accepted into the fund collaborate with Roblox experts to define milestones and receive funding incrementally based on progress. The fund remains open to professional studios, students, and brands on a rolling basis.

Roblox creators earned a record $741 million in 2022, up 19% year-over-year. However, the platform faces past criticism of financially exploiting its young user base by not compensating underage creators. The company maintains “key features and educational materials to promote safety” while noting most monetized experiences come from adult creators.

Beyond the new fund, creators earn money through in-game purchases, ads, and by selling avatar clothing and accessories. Some top creators make nearly $90,000 monthly from digital items like avatar stud earrings.

The $35 million Creator Fund allows Roblox to invest in the creator economy as social platforms increasingly court creators. Meta offered Instagram Reel bonuses up to $35,000, while Snapchat and Pinterest launched creator funds recently. As TikTok sunsetted its $1 billion fund, it pivoted to incentivize long-form video.

By expanding funding opportunities, Roblox aims to empower creators to build novel content spanning games, social media, and broader experiences. The strategic move positions the gaming platform to capitalize on the rising creator economy transcending industries.