Roblox’s metaverse potential makes it a “young tech powerhouse.”

BofA thinks Roblox’s metaverse potential makes it a “young tech powerhouse.”

Roblox is a “young tech powerhouse” with “the only fully fledged metaverse product on the market,” according to Bank of America.

The bank cited the Roblox community’s size and growth as a competitive advantage, citing 50 million daily active users, 3 million creators, and over 3,000 paid developers. “Now like social media at its dawn,” the memo claimed, this robust and growing community may cement its leadership in the metaverse.

“The metaverse category could someday include aspects of social media, streaming video, and video games (including revenue streams from advertising and shopping),” BofA said.

Finally, Roblox’s growing community and vertically integrated coding language “supports a faster than projected product release cycle,” according to BofA.

Robux “owns high performance data centers and CDNs around the world. The ownership of big scale computation is notable since it allows Roblox to lead in system performance “BofA said.

Despite the positive outlook, the bank believes Roblox’s current stock price of around $68 undervalues its leadership in the metaverse.