Sept 5 (Reuters) - Roblox ( RBLX ) announced a new

short-form video content application and an earnings increase

for creators at its developers conference on Friday, looking to

ride the wave of strong engagement and lure new users to the

videogame platform.

The TikTok-style app, called "Roblox Moments," is currently

available in beta and will enable users to capture, edit and

share cuts of gameplay on a common platform for players.

The app could allow the company to bring the billions of

views Roblox ( RBLX ) content receives on websites such as YouTube to its

own platform and further boost engagement. In the quarter ended

June 30, Roblox ( RBLX ) had 111.8 million average daily active users.

For the past few years, Roblox ( RBLX ) has been making a push to

turn the gaming platform into a hub for e-commerce, socializing

and advertising to grow revenue streams in a highly competitive

industry.

Earlier this year, the company announced a new ad format and

a partnership with Google to grow its nascent ad

business, and also allow creators to boost their earnings.

Roblox's ( RBLX ) business model revolves around the purchase of

in-game currency (Robux) from users playing and making games,

allowing the company to stay ahead of the content treadmill and

retain players with regular content updates.

At the developers conference, CEO David Baszucki announced

an 8.5% hike on how much creators can earn when they convert

their earned Robux into money.

He added that the creator community has earned over $1

billion in the last 12 months, with over 100 games making more

than $1 million a year.