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Roblox and Hasbro Higher on Plan for Nerf-Monopoly Partnership

A Roblox-Hasbro venture will create new nerf and Monopoly game products based on the Roblox platform. Both companies' shares rose.
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Shares of videogame platform Roblox  (RBLX) - Get Roblox Corporation Class A Report and toy giant Hasbro  (HAS) - Get Hasbro Inc. Report rose on Tuesday after the two companies unveiled a partnership.

The venture will create new nerf and Monopoly game products based on the Roblox platform. 

The idea is “a range of Roblox-inspired nerf blasters representing some of the most popular experiences on the Roblox platform,” the companies said in a statement.

“In addition, Hasbro has developed a Roblox version of its iconic Monopoly board game (suggested price $19.99), which is available now for pre-order on Hasbro Pulse for fans aged 16 and older in the U.S. and Canada and at" Big Bad Toy Store.

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As for the Nerf Roblox blasters, they “represent some of the most iconic games on the Roblox platform, including 'Adopt Me!' 'Arsenal,' 'Jailbreak,' 'Mad City,' 'Murder Mystery 2' and 'Phantom Forces.'” The products will be available in the U.S. starting this fall.

Meanwhile, “The 'Monopoly: Roblox 2022 Edition' board game lets fans collect and trade popular Roblox experiences while playing the Roblox-inspired version of the iconic board game,” the companies said.

Roblox, which went public last month, recently traded at $81.86, up 8.8%. Hasbro recently traded at $98.65, up 1.6%.

Last week, several analysts initiated coverage of Roblox with positive ratings. Bank of America analyst Ryan Gee initiated coverage of the San Mateo, Calif., company with a buy rating and a $70 price target.

Hasbro in late February gave its popular potato-shaped toy, Mr. Potato Head, a brand makeover by renaming the spud simply "Potato Head," dropping the "Mr." title.