Gaming platform Roblox (NYSE: RBLX) has been an incredible growth story in recent years. There are over 71 million daily active users (DAUs) and about 16 million paying members. Roblox users spent 60 billion hours on the platform last year, and the company has done a fantastic job of monetizing its experiences.

Despite the incredible growth, Roblox could still be in the early chapters of its growth story. Management has big plans for the business, and it could be a major beneficiary of one of the most promising technology trends in the market right now.

Metaverse technology is still in its relative infancy. The global metaverse industry is just starting to gain serious traction. According to research firm Markets and Markets, the global metaverse market was about $84 billion in size in 2023 and is expected to grow exponentially to more than $1.3 trillion by 2023.

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Source Fool.com