The Roblox platform currently boasts 9.5 million developers and 24 million experiences. So far, developers have earned about $761 million from creating games. Instead, it lets developers design their own and pays them for doing so. It does not actually create its games in-house. This is a key piece of Roblox’s platform. Roblox users can then play each other’s games. On Roblox, developers can sign up to create video games. It wants to bring the world together through gaming. Roblox is an online game platform and game creation system. So, should you buy into the metaverse hype and buy Roblox stock? Or is it worth waiting a few more quarters before making a decision? Let’s find out.īefore answering this question, let’s talk about what Roblox actually does. Remember Google Glass, 3D TV, or the Microsoft Kinect? All of these products generated tons of buzz but barely even exist today. Since it doesn’t technically exist yet, it’s easy to scratch your head and wonder what the hype is about. With that said, “the metaverse” also kind of seems like the latest technology buzzword. This is partly why it was named one of the best metaverse stocks to buy. Roblox certainly seems to be at the forefront of creating the metaverse. This concert generated 1 million hours of engagement from users in 160 countries. Last quarter, Roblox hosted a digital Twenty One Pilots concert. In fact, Roblox has is already offering virtual events where you can buy virtual merchandise. However, there is no telling when they might reach it. It’s a long-term goal that they’re working towards. As investors, there is a huge advantage in being the first to invest in “the next big thing.” This is why so many investors are clamoring to buy Roblox (NYSE: RBLX) stock.įor most companies, the metaverse is still a pipe dream. Some companies, like Facebook (I mean “Meta”), are even making the metaverse their sole focus. In the past few months, it seems as if every technology company out there has launched a plan to help create the metaverse. There’s been plenty of talk about the metaverse recently.
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