This is a major deal as it means, the platform can sell tickets and even merchandise related to the event.

Its Chainsmokers virtual concert reported ~16 million visits, which is astonishing. Rock band 21 pilots has also performed a concert inside the game and even Elon John. For example, in 2020 popular rapper 'Lil Nas' performed a concert inside the Roblox game. A particular differentiator and a trend that is more 'metaverse', is the running of virtual events.

Each player has a custom avatar and can interact with others. The platform is a social game like any other massive multiplayer online game. I like to say the platform characters look a little like 'Legoland' figurines, but I'm sure Roblox's lawyers would dispute this. The mission of Roblox is to build a 'human co-experience' platform that enables 'billions' of users to 'play, learn, communicate, explore and expand their friendships'. In this post I'm going to break down its business model, financials, and valuation, let's dive in.

The Metaverse industry was valued at $22.79 billion in 2021 and is forecast to grow at an outstanding 39.8% compounded annual growth rate, up until 2030. The technology has been criticized as 'too early', but Roblox has already a Metaverse-style experience, while Meta Platforms ( META ), formerly known as Facebook, is playing catch up. There has been a lot of talk of the 'metaverse' a virtual world where people interact as virtual avatars.

As people were stuck at home, many craved social interaction and Roblox provided just what people needed. Roblox ( NYSE: RBLX) is a popular online gaming company that was founded in 2006 and increased massively in popularity during the 'lockdown' of 2020.

Roblox stock public