Roblox wants to rule the metaverse

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Roblox shares have risen more than 80% from their first price when Roblox started trading in March via a direct quote. The stock is up nearly 20% from its closing price on day one.
Roblox now has a market value of around $ 46 billion, which is more than the traditional video game giant Electronic arts (SHE).

In May, the company said it had 43 million daily active users, up 28% from a year ago. Wall Street will seek more growth in this key metric.

The more Roblox users there are, the more money the company generates from the sale of its Robux virtual currency, which can be used for in-game purchases. Roblox takes a share of Robux’s revenue and shares the stay with the game developers.

Analysts expect Roblox to report second-quarter revenue of $ 689 million and earnings of 23 cents per share.

The company has taken the gaming world by storm in large part because it’s not just one game in and of itself. Rather, it is a platform with millions of user-generated games. It’s also a leader in the so-called metaverse, the idea that more and more people will interact with virtual content in an online world.
Facebook (FB), Microsoft (MSFT) and Fortnite maker Epic Games all have ambitious metaverse plans.

And it looks like Roblox has even bigger ambitions. The company announced Monday that it will acquire a startup called Guilded, which develops game community building tools such as voice and video chat as well as calendar and scheduling apps.

“The Guilded team has a clear passion for empowering communities,” said David Baszucki, CEO of Roblox in a press release. “They have a great team and technology, and we are very happy to help them continue on their way.”

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Popular musicians have also focused on reaching young fans by giving concerts on the Roblox platform.

Lil Nas X of “Old Town Road” did a Roblox show in December that generated over 30 million views. YouTuber / rapper KSI performed a series of shows this past weekend.

The company is also attracting attention from mainstream media and toy companies: in June Netflix (NFLX) launched a game on Roblox that allows players to tour a virtual version of the ’80s Starcourt Mall from “Stranger Things,” which was a key location during the show’s third season.

Canadian toy and entertainment company Spin Master announced last week that it plans to air a new episode of its popular show “Bakugan” on Roblox – a week before it airs on Netflix.

“By merging our collective audiences, we are able to offer the Roblox community as well as Bakugan fans new, unique ways to connect and experience entertainment together within the Roblox metaverse,” said Christina Wootton, vice president of brand partnerships at Roblox, in a press release.

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