I remember the days, roughly 3 years ago, back in 2020 when I had discovered the roblox blackmarket. It was flourishing back then and seems to still be flourishing today. Surprisingly, the majority of individuals that use the blackmarket use it either to exchange robux (ingame currency) into crypto, or crypto into robux, which really shows how useful crypto is.
Subscribe to My Daily Newsletter
The main cryptocurrencies used are Bitcoin and Litecoin as they both offer convenient fees. Ethereum is NEVER used as the fees are simply too high, and are therefor rejected by most 'vendors' or 'dealers'.
The same sort of things are employed in Rust, a popular MMO game, and gta 5, a popular vast-world multiplayer game.
None of these games are in any way, shape, or form associated to cryptocurrencies but yet they have huge blackmarkets. GTA 5 has a market for exploits, roblox does too, but it's a ton more professional in comparison to Rust and GTA 5.
Which is likely why they've got the biggest blackmarket in the whole game ecosystem. It's called a blackmarket because it's against the game's rules to sell ingame items for real world value and everyone who uses the blackmarket knows this.
They regularly get accounts banned, and sometimes only buy things that are guaranteed to get them banned in 2-3 days as it's 30%-40% cheaper than the goodies that don't get you banned.
Some users arbitrage this for several days and make profitable trades, with the downside being that they lose their reputation as they are effectively scamming and so on.
These blackmarkets have existed for years.
My best guess is likely since 2008 since that was around when roblox started gaining a lot of players.
It might've not had dedicated websites or channels of discussion, but it likely did go on discreetly with twitter, botting, and generally finding ways around the rigid system roblox had implemented around trading and player monetary interactions.
The main point of the blackmarket is for it to be profitable and create value around interactions in the market which is likely also another reason for it's existance and why it had specifically been centered around crypto - not to mention this ofcourse being against the game's rules and nobody wants to be caught, so crypto is the best way to go. Keep in mind - none of this is actually illegal, it's just against a game's measly rules.
And so that's the story behind why the blackmarket around roblox uses crypto.
