10 Best Metaverse Stocks To Buy According to Hedge Funds

8. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 54

Roblox Corporation (NYSE:RBLX) is reimagining the way people come together by offering a platform that enables anyone to create, learn, connect, shop, and express themselves in immersive 3D experiences. Roblox was founded in 2004.

Roblox serves as one of the top online entertainment platforms for audiences aged below 18 based on average monthly visits and time spent. Its community of users and developers drives its popularity purely. The growth trajectory for Roblox is robust as evident from its 88.9 million daily active users, 2.9 million developers, 20.7 billion total engagement hours, and 6 million active experiences, as of the recent quarter. The vision remains even brighter with the CEO expecting the company to become a daily utility for shopping, communication, entertainment, learning, and play, as stated during the RDC 2024.

Roblox Corporation (NYSE:RBLX) demonstrated the strength of its platform in its promising Q3 results. The firm recorded revenue of $919.0 million, up 29% year-over-year. Bookings witnessed an increase of 34% over the year. At the same time, Average Daily Active Users (DAUs) climbed 27% year-over-year while hours engaged were up 29% year-over-year.

Therefore, Roblox is a leading immersive platform for connection and communication. With solid fundamentals, active engagement, and a growing community of both creators and users, the firm remains committed to becoming the world’s largest social platform for play. As of 2024’s second quarter, the stock is held by 54 hedge funds.