Roblox jumps 11% after it partners with NFL to launch metaverse game ahead of Super Bowl

• Roblox stock added to its gains on Wednesday after it partnered with the NFL to launch a metaverse game.
• "NFL Tycoon" was launched on the Roblox platform just ahead of Super Bowl LVI this weekend.
• "NFL's Roblox experience will engage fans year-round in interactive NFL-themed gameplay while also providing a new virtual hangout destination," the NFL said.

Roblox stock surged on Wednesday after it partnered with the National Football League to launch a metaverse game called "NFL Tycoon."

Shares closed up 9.4% after jumping as much as 11%, adding to earlier intraday gains amid a broad rally in tech stocks.

The new game will allow users to hang out in a virtual destination throughout the year and engage in various activities beyond just playing football, namely managing the business of owning a football team.

"We see Roblox as an extension of NFL's real-life engagement platforms for emerging social connectivity where fans can learn the game and business side of NFL football," Joe Ruggiero, SVP of consumer products at the NFL said.

The NFL said it would host virtual live events throughout the year and offer virtual goods for purchase. The first live event will take place on Sunday, centered around the Super Bowl LVI commercial. That day will also see the Cincinnati Bengals and the Los Angeles Rams face off in the NFL championship game.

Despite Wednesday's gains, Roblox stock is still down 32% year-to-date, and down 50% from its record high of $141.60 reached in November.