ENHANCING FINANCIAL LITERACY BY ROBLOX: AN INNOVATIVE METAVERSE-BASED EDUCATIONAL FRAMEWORK
R.M. Vieira1, T.A. Machado2, A.P. da Silva3, E.F. Damasceno3
This article proposes a pioneering approach to teaching Financial Education in Brazilian schools by leveraging the immersive world of Metaverse Games, specifically within the Roblox platform. Financial literacy is a critical global skill, yet making it captivating for students is a challenge. Our Roblox-based educational space creatively demystifies complex financial concepts such as assets, salary, income management, savings, debts, and investments. To assess the impact, we administered three questionnaires: a pre-test to determine initial knowledge, an intermediary test during digital interaction, and a post-test to evaluate knowledge retention. Results indicate that Roblox effectively engages students with financial content in a fun and interactive way. The metaverse represents a new frontier for educational technology, prompting the development of innovative assessment and learning management strategies. Despite observing impulsive decision-making in the virtual setting, students adopted a cooperative strategy to improve outcomes through the reset function of the game, highlighting a collective learning experience. Our research concludes that financial literacy is essential for young individuals to manage real-life finances and that collaborative learning significantly boosts skill acquisition. It is, therefore, crucial to universally adopt playful and cooperative financial education in schools to prepare students for financial success in their personal lives and future society.
Keywords: Finance Education, Metaverse in Education, Game-based Methodology.