Rec Room paid over $1 million for user-generated content (UGC) in the first quarter of 2022. The platform’s mobile revenues grew by 640% year over year.
Rec Room is a virtual world that is constantly enriched by user-generated content. Here, users can produce content as they wish and earn money thanks to them. A lot of content has been created so far for Rec Room, launched in 2016. The number of UGCs on the platform exceeds the sum of the games and apps in the App Store. There are even users who have made this job a profession.
The platform can be accessed from all devices. Until recently, most of the players active in Rec Room were PC users. With the development of mobile technologies, the situation for Rec Room has changed, and the number of users accessing from mobile has grown like an avalanche. Close to 75 million users have signed up to the platform so far.
Rec Room CEO Nick Fajt said:
“Over the past 6 years we’ve been continually surprised by the kindness, humor and creativity of our community. Rec Room has become an important way for millions of people to connect, learn, create and earn. Since we founded the company back in 2016, we’ve been convinced that gaming and UGC would play an important role in the future of the internet and the way we all connect. Rec Room is still early in realizing that vision, but we’re excited about where the community and the next 6 years will take us.”
The concept of metaverse entered our lives with Web3 technologies. Rec Room does not currently describe itself as a “metaverse.” On the other hand, the company has plans in this regard. As you know, whether the metaverse is anything new is still a matter of debate.
Additionally, the company received a $145 million investment last December, raising its valuation to over $3.5 billion.
