Blockchain Papers

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151 papersLast indexed Aug 31, 2026
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Sep 1, 2024·Intelligent systems in accounting, finance and management/Intelligent systems in accounting, finance & management
9 cites
The Technological Innovation of the Metaverse in Financial Sector: Current State, Opportunities, and Open Challenges

Arianna D’Ulizia, Domenica Federico, Antonella Notte

ABSTRACT Metaverse is an emerging digital space that uses innovative technologies to allow users to facilitate building relationships virtually and to create new interaction opportunities. Even, the financial sector has been disrupted by the metaverse involving digital assets, cryptocurrencies, blockchain technology, and decentralized finance. The objective of this paper is to focus on novel intelligent systems technologies with the potential for application in the financial area to have a better knowledge of the current research topics, challenges, and future directions. A systematic literature review was conducted analyzing papers on technological innovation of the metaverse in financial sector. Following the PRISMA methodology, we have selected 29 primary studies from five scientific databases to be included in the review. The results show that 11 types of innovative metaverse technologies are applied in the financial sector, developing financial innovations, among which the most discussed is cryptocurrency. Among the opportunities that the use of the metaverse brings to the financial sector, the reduction of transaction costs is the most discussed. Finally, five open challenges in the use of metaverse technologies in the financial sector have been identified, relating to the use of data, the application of technologies, social integration, financial innovation, and regulatory compliance. Based on this study, recommendations on future research directions are provided to the scientific community.

Open access
Blockchain Technology Applications and Security
Virtual Reality Applications and Impacts
IoT and Edge/Fog Computing
Original source
Aug 27, 2024·Scientific Reports
28 cites
Investigating viewer engagement in esports through motivation and attitudes toward metaverse and NFTs

Hyeon Jo, Seung-A. Shin

As the esports industry continues its rapid growth, new opportunities such as the metaverse and non-fungible tokens (NFTs) are emerging, driven by the inherently digital nature of esports. To better understand viewer engagement in this evolving landscape, this study investigates viewer behavior in the context of watching esports. A survey was conducted on a sample of 312 esports viewers in South Korea, and the data was subsequently analyzed using structural equation modeling. The study's findings indicate that hedonic motivation is significantly correlated with attitudes toward esports and the utilization of esports in the metaverse. Furthermore, perceived enjoyment was found to significantly positively influence attitudes toward esports, the metaverse expansion of esports, and the use of esports via NFTs. Notably, attitudes toward esports showed a significant relationship with continuance intention. Both subjective norms and perceived behavioral control were also found to significantly influence continuance intention.

Open access
Digital Games and Media
Digital Marketing and Social Media
Virtual Reality Applications and Impacts
Original source
Aug 23, 2024·Heritage Science
9 cites
Archaeometa: leveraging blockchain for secure and scalable virtual museums in the metaverse

Omer Aziz, Muhammad Shoaib Farooq, Adel Khelifi, Mahdia Shoaib

Abstract The rapid evolution of the digital landscape has catalyzed the integration of blockchain technology within the domain of cultural heritage, particularly in virtual museums within the Metaverse. This study introduces ArchaeoMeta, a novel framework designed to leverage blockchain technology to enhance security, authenticity, and visitor interaction in a virtual museum environment. Utilizing smart contracts deployed on the Ethereum Sepolia testnet, the framework manages visitor interactions and secures digital artifacts, addressing challenges associated with scalability and user experience under varying loads. The performance evaluation involved simulating user interactions, scaling up to ten thousand concurrent users, to assess the impact on transaction latency, gas usage, and blockchain size. Findings reveal significant scalability challenges, as transaction latency and blockchain size increased with the number of users, highlighting areas for optimization in managing high user traffic within the blockchain infrastructure. This study contributes to the understanding of blockchain applications in cultural heritage, suggesting that while ArchaeoMeta offers a robust platform for virtual museums, enhancements in scalability through layer-2 solutions or alternative blockchain platforms are essential for its practical implementation. The framework sets a precedent for future research in the convergence of blockchain technology and cultural heritage preservation, promising a transformative impact on how digital cultural experiences are curated and consumed.

Open access
Virtual Reality Applications and Impacts
Museums and Cultural Heritage
3D Surveying and Cultural Heritage
Original source
Aug 19, 2024·Wiley Interdisciplinary Reviews Data Mining and Knowledge Discovery
57 cites
Exploring the convergence of Metaverse, Blockchain, and AI : A comprehensive survey of enabling technologies, applications, challenges, and future directions

Mueen Uddin, Muath Obaidat, Selvakumar Manickam, Shams Ul Arfeen Laghari · 7 authors

Abstract The Metaverse, distinguished by its capacity to integrate the physical and digital realms seamlessly, presents a dynamic virtual environment offering diverse opportunities for engagement across innovation, entertainment, socialization, and commercial endeavors. However, the Metaverse is poised for a transformative evolution through the convergence of contemporary technological advancements, including artificial intelligence (AI), Blockchain, Robotics, augmented reality, virtual reality, and mixed reality. This convergence is anticipated to revolutionize the global digital landscape, introducing novel social, economic, and operational paradigms for organizations and communities. To comprehensively elucidate the future potential of this technological fusion and its implications for digital innovation, this research endeavors to undertake a thorough analysis of scholarly discourse and research pertaining to the Metaverse, AI, Blockchain, and associated technologies. This survey delves into various critical facets of the Metaverse ecosystem, encompassing component analysis, exploration of digital currencies, assessment of AI utilization in virtual environments, and examination of Blockchain's role in enhancing digital content and data security. Leveraging articles retrieved from esteemed digital repositories including ScienceDirect, IEEE Xplore, Springer Nature, Google Scholar, and ACM, published between 2017 and 2023, this study adopts an analytical approach to engage with these materials. Through rigorous examination and discourse, this research aims to provide insights into the emerging trends, challenges, and future directions in the convergence of the Metaverse, Blockchain, and AI. This article is categorized under: Application Areas > Industry Specific Applications

Open access
Blockchain Technology Applications and Security
Virtual Reality Applications and Impacts
IoT and Edge/Fog Computing
Original source
Aug 19, 2024·IntechOpen eBooks
0 cites
Web3 – the Heartbeat of the Open Metaverse

Jane Thomason

The term “Metaverse” itself is derived from the fusion of “meta” (signifying “beyond”) and “verse” (an abbreviation of “universe”), suggesting a realm transcending physical reality. It foreshadows a networked constellation of virtual worlds wherein individuals can engage in various activities, including work, recreation, and social interactions. Web3, in conjunction with AI, will be integrated into Metaverses, where people can interact, learn, exchange, and have new immersive experiences. A profoundly transformational aspect of Web3 Metaverses will be the creation of community-owned economies, known as decentralised autonomous organisations (DAOs). With blockchain and smart contracts, community rules can be encoded, and digital assets allow members to exchange value within a token economy. The chapter describes a future world of greater decentralisation, a new data economy, and a world where the open Metaverse, powered by Web3, will provide social utility across multiple sectors.

Open access
Virtual Reality Applications and Impacts
Original source
Jul 9, 2024·Computers in Human Behavior
9 cites
Enhancing claustrophobia exposure therapy: A blockchain and NFT-enabled metaverse approach

Ahmad Musamih, Khaled Salah, Raja Jayaraman, Mohamed L. Seghier · 7 authors

Claustrophobia is a widespread mental health issue that affects a significant portion of the population. Traditional approaches, such as exposure therapies, have shown efficacy but are limited by their inability to provide immersive and controlled environments for effective therapy. These methods often struggle to replicate the intensity and authenticity of claustrophobic scenarios and face challenges in data security and patient engagement. In this paper, we propose a blockchain and Non-Fungible Token (NFT)-based metaverse to create a decentralized, transparent, immersive, and secure platform for claustrophobia exposure therapy. Our approach integrates blockchain technology for decentralized data management and NFTs for incentivizing patient participation, offering a unique enhancement to traditional therapy methods. We develop four blockchain smart contracts to manage registration, access control, NFT management, progress monitoring, and incentives distribution. Our system architecture, sequence diagrams, and algorithms are presented to demonstrate the functionality of our solution. We validate our approach through functionality testing, cost evaluation, and security analysis. Specifically, we measure the gas consumption of the smart contracts, analyze transaction costs, and assess system security against vulnerabilities. Additionally, we leverage existing literature to support the effectiveness of NFTs as incentives and the role of blockchain in enhancing data security and participation. The results show improvements in therapy engagement and data security, validating the practical implications of integrating blockchain and metaverse technologies in mental health therapy. We discuss the practical implications, challenges, and limitations of our solution, along with guidelines for generalization. The source code is publicly available on GitHub.

Open access
Mind wandering and attention
Virtual Reality Applications and Impacts
Digital Mental Health Interventions
Original source
Jul 2, 2024·Spanish Journal of Marketing - ESIC
12 cites
Experimenting on the metaverse to foster innovation

Cristina Mele, Tiziana Russo Spena, Stefano Paolo Russo

Purpose This study aims to investigate the evolving concept of the metaverse and its implications for service innovation. It seeks to understand how integrating technologies such as extended reality, blockchain, artificial intelligence and non-fungible tokens enables companies to experiment and innovate. Design/methodology/approach Adopting a qualitative methodology, this investigation conducts an immersive netnography across more than 25 case studies spanning diverse industries such as gaming, retail, health care and education. The thematic analysis method is used to distill critical insights, providing a deep dive into the technological enablers, innovation processes and market adaptations within the metaverse. Findings The study addresses four main building blocks through which companies experiment with the metaverse to foster innovation: enabling virtual identities’ agency, developing non-fungible tokens, designing immersive paths and crafting phygital microworlds. They shape the metaverse by enacting actors, resources, processes and phygital ecosystems. Companies obtain learning outcomes from such experimentation and identify learning challenges. Originality/value This research contributes to the nascent body of knowledge on the metaverse and service innovation by providing a comprehensive framework that encapsulates the multifaceted ways companies experiment within the metaverse. It extends the understanding of digital-physical convergence in service research, offering theoretical and practical insights into the development of phygital service ecosystems.

Open access
Virtual Reality Applications and Impacts
Original source
Jun 30, 2024·Fashion Highlight
1 cites
Approaching fashion in the metaverse

Romana Andò

Although there is not yet a consolidated and shared definition of metaverse, this concept has established itself in recent years within the public debate, in particular within specific markets, such as in the case of fashion. We constantly read in specialized and non-specialized magazines, about brands who landed in the metaverse or opened their first store there, or released their first Non Fungible Tokens (NFTs ). However, the apparent concreteness of these statements corresponds to a widespread confusion from the consumers’ side. The aim of this article is to reflect, starting from the results of a qualitative research on international Millennials and Generation Zed consumers, on the meanings associated with the metaverse, on the overlap between it and the concepts of fashion digitalization and digital clothing; finally on the effective media literacy and expectations of who should be the target of these innovations. In particular, the goal is to investigate the well-known relation between fashion and individual self-presentation within the metaverse.

Open access
Fashion and Cultural Textiles
Virtual Reality Applications and Impacts
Consumer Retail Behavior Studies
Original source
Jun 28, 2024·Data Science and Management
4 cites
Creating non-fungible token (NFT)-backed emoji art from user conversations on blockchain

Maedeh Mosharraf, MohammadHossein Khorrami

In metaverse, digital assets are essential to define identity, shape the virtual environment, and facilitate economic transactions. This study introduces a novel feature to the metaverse by capturing a fundamental aspect of individuals–their conversations–and transforming them into digital assets. It utilizes natural language processing and machine learning methods to extract a key sentence from user conversations and matches them with emojis that reflect their sentiments. The selected sentence, which encapsulates the essence of the user’s statements, is then transformed into digital art through a generative visual model. This digital artwork is transformed into a non-Fungible Token (NFT), becoming a valuable digital asset within the blockchain ecosystem that is ideal for integration into metaverse applications. Our aim is that the management of personality traits as digital assets will foster individual uniqueness, enrich user experiences, and facilitate more personalized services and interactions with both like-minded users and non-player characters, thereby enhancing the overall user journey.

Open access
Visual Attention and Saliency Detection
Virtual Reality Applications and Impacts
Aesthetic Perception and Analysis
Original source
Jun 18, 2024·ISPRS International Journal of Geo-Information
6 cites
Implementing Immersive Worlds for Metaverse-Based Participatory Design through Photogrammetry and Blockchain

Nikolai Abramov, Havana Lankegowda, Shunwei Liu, Luigi Barazzetti · 6 authors

This paper explores participatory design methods for the interconnection of digital recording techniques, like digital photogrammetry and Gaussian splatting, with emerging domains such as the metaverse and blockchain technology. The focus lies in community engagement and the economic growth of urban and rural areas through blockchain integration, utilizing low-cost digitalization methods to create Web3 environments mirroring real settlements. Through a case study of an Italian village, the potential of participatory design and community-led development strategies in revitalizing neglected areas are explored, and the use of low-cost drone-based photogrammetry and Gaussian splatting in digitization are compared, highlighting their advantages and drawbacks considering the aim of this work, i.e., the creation of an interactive metaverse space. Ultimately, the study underscores the transformative role of digital technologies in reshaping design processes and fostering community development through a workflow, stressing collaborative decision-making and blockchain-driven economy, manufacturing, and maintenance through self-ownership models and performance-based smart contracts.

Open access
Virtual Reality Applications and Impacts
Original source
Apr 24, 2024·Web3 Journal ML in Health Science
0 cites
Xavatar: A Web3 Metaverse Application as a support for Patients with Mobility Disorders

Jason P. Rothberg, Colin Keogh, Yury Rusinovich

Xavatar is a media, educational, and therapeutic platform specializing in immersive virtual reality (VR) and augmented reality (AR) content, as well as seamless interconnectivity across various devices such as mobiles, tablets, and computers. It is aimed at improving the lives of patients with chronic mobility and communication disorders, including dementia, Alzheimer's, autism, chronic immobility, isolation, and long-term hospitalization. The project represents a fusion of digital technologies including the Metaverse, artificial intelligence (AI), and Web3, all designed to enhance healthcare interactions and patient support. This opinion piece explores the transformative potential of Xavatar, highlighting its role in shaping future healthcare landscapes through innovative, empathetic, and engaging digital solutions.

Open access
Artificial Intelligence in Healthcare and Education
Virtual Reality Applications and Impacts
Telemedicine and Telehealth Implementation
Original source
Apr 22, 2024·Journal of Logistics Informatics and Service Science
0 cites
Will Metaverse Face Failure in Future Like Nfts: An Empirical Study

Authors unavailable

This research paper critically assesses the future viability of the metaverse, a virtual world where users can interact with each other and digital objects, in light of the recent challenges faced by the non-fungible tokens (NFT) market.The paper identifies and analyzes the key challenges faced by the metaverse, including scalability, sustainability, and legal/regulatory issues, drawing on relevant literature.It then examines how these challenges were addressed in the NFT market and evaluates the potential implications for the metaverse.The paper also highlights potential ways to mitigate these challenges in the metaverse and concludes by discussing the theoretical and managerial implications of the research findings.The study's limitations and future scope for research are also discussed.

Open access
Virtual Reality Applications and Impacts
Original source
Mar 12, 2024·Ege Akademik Bakis (Ege Academic Review)
2 cites
Analysis of Metaverse and Cryptocurrency Crimes ın Forensic Accounting

Fatma AKYÜZ, Selçuk Gülten

The purpose of this study is to collect data on crimes that encompass the technological and software aspects referred to as the "new generation," and to analyze case studies and legal incidents related to crimes committed within the scope of the metaverse and cryptocurrency. The starting point of the study is the analysis of court decisions related to metaverse and cryptocurrency crimes. Within the scope of the study, thousands of court decisions have been scanned using text mining techniques. The keywords "metaverse," "bitcoin," "digital currency," "cryptocurrency," and "digital money" have been included in the search algorithm for the word corpus. Although no court decision containing the word "metaverse" was found, 37 decisions were identified in which the other terms from the word corpus were mentioned. The oldest decision dates back to July 12, 2019, while the most recent decision is dated March 23, 2023. In addition to the decisions of first-instance courts, the decisions of appellate and higher judicial authorities have also been examined within the framework of text mining studies.

Open access
Blockchain Technology Applications and Security
Virtual Reality Applications and Impacts
Original source
Feb 29, 2024·Scientific Journal of Metaverse and Blockchain Technologies
2 cites
Role of NFT In Establishment of VIP Culture

Mandeep Gupta, Deepanshu Gupta

Non-Fungible Tokens (NFTs) significantly contribute to the establishment of VIP culture by embodying exclusivity, uniqueness, and privileged access, inherent to their nature. They enable creators and brands to offer exclusive ownership or access to digital or physical assets, aligning with the VIP ethos of rarity and status. Through NFTs, experiences, artworks, or digital collectibles become status symbols, fostering a new dimension of exclusivity in digital spaces. This intersection of technology, art, and exclusivity amplifies VIP culture, allowing it to extend beyond traditional boundaries into the realm of digital collectability and virtual experiences, thus redefining what it means to be part of the "in-crowd" in the digital age.

Open access
Museums and Cultural Heritage
Virtual Reality Applications and Impacts
Digital Games and Media
Original source
Feb 7, 2024·International Journal of Consumer Studies
25 cites
What's behind the jpg? Understanding consumer adoption of non‐fungible tokens

Elías Vega, Carmen Camarero Izquierdo

Abstract NFTs, or non‐fungible tokens (NFTs), are a new form of ownership registration based on blockchain technology that allows digital assets to be exchanged with guarantees of ownership and originality of the artwork involved. This has boosted the trade of these assets and companies have been quick to incorporate NFTs into their marketing strategy, either with their own tokens or by collaborating with established companies in the metaverse. Building on the frameworks of the unified theory of acceptance and use of technology 2 (UTAUT2), this study contributes to the literature by analysing the determinants of individuals' adoption of NFTs through two studies. Study 1 relies on qualitative interviews with technology insiders to provide initial insights into these determinants. Study 2 tests the hypotheses developed and compares the results between non‐buyers and buyers in order to analyse the intention to purchase and repurchase NFTs. This study contributes to the UTAUT2 with two new individual‐specific variables of interest for the adoption of this type of product: social capital, and the fear of missing out. Finally, this study concludes with guidelines for companies on how they can use NFTs in their marketing campaigns.

Open access
Virtual Reality Applications and Impacts
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Original source
Feb 2, 2024·Metaverse
1 cites
At the frontier of the metaverse: NFTs, artistic expression, and digital immersions

Numa Numa, Gustavo Godoy, João Marcelo Teixeira

<strong><strong></strong></strong><p>This paper explores the multifaceted landscape of Non-Fungible Tokens beyond their role in digitizing artworks. It delves into the intersection of art, utility, and cultural preservation within the NFT realm. The discussion revolves around the duality of “art for art’s sake” and functional utility, sparking ongoing debates about the essence of art in both the analog and digital realms. The convergence of contemporary aesthetics with practical token utility challenges conventional definitions, offering an alternative to narrative retrieval and contributing to cultural preservation in the virtual sphere. As one enters the NFT ecosystem, a utopian quest for autonomy in healthy production becomes evident, albeit not without formidable obstacles. The paper examines the promise of NFTs to liberate creators from intermediary control and the entwined complexities accompanying their evolution. It sheds light on the cautious and ethical approach required for the mass adoption of these technologies, contrasting this with the current global context characterized by rampant consumerism, individualism, and the relentless pursuit of easy financial gains.<strong></strong></p>

Open access
Virtual Reality Applications and Impacts
Original source
Jan 23, 2024·Sensors
5 cites
Design of Virtual Hands for Natural Interaction in the Metaverse

Joaquín Cerdá Boluda, Marta C. Mora, Nuria Lloret, Stefano Scarani · 5 authors

The emergence of the Metaverse is raising important questions in the field of human-machine interaction that must be addressed for a successful implementation of the new paradigm. Therefore, the exploration and integration of both technology and human interaction within this new framework are needed. This paper describes an innovative and technically viable proposal for virtual shopping in the fashion field. Virtual hands directly scanned from the real world have been integrated, after a retopology process, in a virtual environment created for the Metaverse, and have been integrated with digital nails. Human interaction with the Metaverse has been carried out through the acquisition of the real posture of the user's hands using an infrared-based sensor and mapping it in its virtualized version, achieving natural identification. The technique has been successfully tested in an immersive shopping experience with the Meta Quest 2 headset as a pilot project, where a transactions mechanism based on the blockchain technology (non-fungible tokens, NFTs) has allowed for the development of a feasible solution for massive audiences. The consumers' reactions were extremely positive, with a total of 250 in-person participants and 120 remote accesses to the Metaverse. Very interesting technical guidelines are raised in this project, the resolution of which may be useful for future implementations.

Open access
Virtual Reality Applications and Impacts
Tactile and Sensory Interactions
Visual Attention and Saliency Detection
Original source
Jan 13, 2024·International Journal of Information Management Data Insights
85 cites
Crafting the techno-functional blocks for Metaverse - A review and research agenda

Amar Johri, Anu Sayal, N Chaithra, Janhvi Jha · 8 authors

The "Metaverse," a term popularized by Neal Stephenson's novel Snow Crash, has been discussed in the science fiction community for decades, but technological advancements have only recently made it a reality. The Metaverse is an all-encompassing, interconnected virtual environment where users can freely communicate with one another and digital content. This article examines how various technologies, primarily Virtual Reality (VR) and Augmented Reality (AR), have contributed to the development of the Metaverse (AR). These innovations have revolutionized the way we interact with digital media by enabling us to have genuine, realistic experiences. In addition, we examine the Metaverse technologies that make it possible to construct a fully realized, functional virtual world. Among these are recent advances in artificial intelligence (AI), cryptocurrencies, spatial and peripheral computing, and other fields. Our research investigates the advantages and disadvantages of these technologies, as well as how they may influence the future of the Metaverse. Furthermore, the article explores the darker aspects of the Metaverse, particularly the emergence of the "dark verse," which underscores the potential for organized illicit activities within the Internet due to insufficient oversight and governance of the Metaverse.

Open access
Virtual Reality Applications and Impacts
Ethics and Social Impacts of AI
Impact of AI and Big Data on Business and Society
Original source
Jan 4, 2024·International Journal of Research in Marketing
66 cites
Virtual luxury in the metaverse: NFT-enabled value recreation in luxury brands

Wuxia Bao, Liselot Hudders, Shubin Yu, Emma Beuckels

With the emergence and popularity of non-fungible tokens (NFTs), the luxury brand industry has experienced an increase in their use of NFTs. This study employs multiple-case studies, thematic analysis method, and grounded theory to analyze 40 luxury NFT campaigns from 2021 and 2022. The analysis applies a sociotechnical perspective, integrating the technical factors of NFTs and the social factors of luxury value. The study identifies the values, attributes, and strategies of NFT-based virtual luxury. Based on the findings, this study introduces the concept and definition of virtual luxury to understand and advance luxury brands in the Metaverse . This study theoretically contributes to the luxury industry by envisioning a virtual transformation of luxury brands.

Open access
Consumer Behavior in Brand Consumption and Identification
Virtual Reality Applications and Impacts
Consumer Retail Behavior Studies
Original source
Jan 1, 2024·IEEE Access
7 cites
Blockchain and 6G: Pioneering New Dimensions in Metaverse Marketing

Ikram Ud Din, Ahmad Almogren, Byung-Seo Kim

New opportunities in the field of digital marketing, notably in the Metaverse, have been made possible by the rising use of 6G networks and blockchain technology. In the context of 6G and the Metaverse, this article seeks to examine the possibilities of blockchain-based digital marketing. It explores the use of blockchain technology in digital marketing, considers the benefits and drawbacks of doing so, looks at how blockchain technology interacts with 6G networks and the Metaverse, and offers potential uses for blockchain-focused digital marketing in the Metaverse. We discovered that blockchain technology can provide improved security and transparency for digital asset transactions, as well as better management of user profiles, through a literature review, a proposed system model, and data collection and analysis. Furthermore, as the results of our simulation study show, average capacity of 6G networks is in the order of Terabits per second, 6G networks can support the Metaverse’s high-bandwidth and low-latency requirements. On the other hand, there are situations where the Metaverse and 6G network implementation entails certain cost-benefit relationships that should be evaluated. The results of this study enlighten the opportunity and obstacles of the blockchain-based digital marketing technique in 6G, Metaverse, and offer instructions for future study and advancement.

Open access
Blockchain Technology Applications and Security
Virtual Reality Applications and Impacts
Consumer Retail Behavior Studies
Original source
Jan 1, 2024·IEEE Access
22 cites
Roles of Blockchain in the Metaverse: Concepts, Taxonomy, Recent Advances, Enabling Technologies, and Open Research Issues

Muna Elsadig, Manal Abdullah Alohali, Ashraf Osman Ibrahim, Anas W. Abulfaraj

The Metaverse platform offers 3D immersive experiences through virtual reality, artificial intelligence, and blockchain technologies. Blockchain-based Metaverse has garnered recent interest due to its decentralization, anonymity, and other security features. Integrating blockchain into Metaverse promotes the formation of a shared ecosystem and provides digital asset tracking, privacy protection, and security in both virtual and physical environments. This paper explores the role of blockchain in creating and managing the Metaverse platform. It is intended to provide a helpful reference for researchers and practitioners in the field of the blockchain-based Metaverse. The main topics covered include the concept and characteristics of the Metaverse; its different use cases, architectures, and technologies; Metaverse as a service provider; Metaverse management; Metaverse users and data; and blockchain-based Metaverse in terms of roles, technologies, applications, and challenges. In addition, recent advances in the blockchain-based Metaverse and challenges such as scalability, interoperability, and edge resource sharing will be discussed. The paper will conclude by highlighting open research issues and future directions, including improving immersion, scalability, security, and integration with existing systems.

Open access
Blockchain Technology Applications and Security
Virtual Reality Applications and Impacts
IoT and Edge/Fog Computing
Original source
Jan 1, 2024·SSRN Electronic Journal
0 cites
Entrepreneurship in the Metaverse: Exploring Opportunities and Challenges in Virtual Worlds

Josephine Nartey

The metaverse, a collective virtual shared space combining virtual reality, augmented reality, and the internet, presents a new frontier for entrepreneurship and disruptive business opportunities. This paper conducts an in-depth exploration of the metaverse landscape, analyzing the evolution of virtual worlds, major metaverse platforms, and user adoption trends. It identifies and evaluates various entrepreneurial opportunities within the metaverse ecosystem, including virtual real estate development and digital asset trading, virtual commerce and e-commerce, virtual experiences and entertainment, as well as decentralized finance (DeFi) applications leveraging blockchain technology. While the metaverse offers substantial prospects, the paper critically examines the challenges and risks associated with metaverse entrepreneurship. These encompass legal and regulatory complexities surrounding intellectual property, privacy, and taxation; technical hurdles such as interoperability, scalability, and cybersecurity; economic uncertainties regarding volatile asset markets and sustainable revenue models; and social and ethical implications related to potential addiction, inclusivity, and environmental impact. The paper further outlines strategic approaches and best practices for entrepreneurs seeking to navigate the metaverse successfully. These include identifying viable business opportunities, building strong virtual brand identities, leveraging emerging technologies like augmented reality (AR), artificial intelligence (AI), and blockchain, fostering community engagement, pursuing strategic collaborations, and embracing continuous innovation. Through a synthesis of existing literature and case studies, the paper offers actionable recommendations for entrepreneurs and policymakers to foster a responsible and sustainable metaverse ecosystem. It acknowledges limitations and suggests avenues for future research, such as industry-specific studies, ethical frameworks, and longitudinal investigations into the metaverse's societal impacts. Ultimately, this comprehensive analysis aims to provide a thorough understanding of the metaverse's potential for entrepreneurship, while equipping stakeholders with insights and strategies to navigate the opportunities and challenges within this rapidly evolving virtual realm.

Open access
Impact of AI and Big Data on Business and Society
Advanced Technologies in Various Fields
Virtual Reality Applications and Impacts
Original source
Jan 1, 2024·DSpace@MŞU
0 cites
Spor Markalarının Metaverse'e Girişi

Vural, Engin

Bu çalışmanın amacı, spor markalarının modern dünyanın getirdiği yeniliklerden olan Metaverse evrenine girişlerinin incelenmesidir. Çalışmada araştırmacının çevresindeki fotoğrafları, kayıtları ve dokümanları harmanlayarak yorumlaması ile öne çıkan nitel araştırma modeli kullanılmıştır. Verilerin ayrıntılı olarak toplanması ve analiz edilmesi için doküman analizi tekniği kullanılmıştır. Spor markalarından Nike ve Adidas; metaverse evreninde yeni platformlar oluşturdukları, Non-fungible token (NFT) alım ve satımı gibi çeşitli konularda patent başvuruları yaptıkları ve aynı zamanda her iki markanın da çeşitli şirketlerle ortaklıklar kurdukları saptanmıştır. Nike, kendi adını taşıyan Nikeland isimli bir metaverse sanal platformu kurmuştur. Nikeland ile kullanıcılar avatarlarını oluşturarak çeşitli spor branşlarında oyunlar oynamaktadır. Nike, kendi adını taşıyan kıyafet NFT’leri satarak kullanıcıların oluşturdukları avatarları giydirebilmelerine ve çevrim dışı yapılan fiziki hareketlerin metaverse evreninde oluşturulan çevrim içi platforma entegre edilmesine olanak sağlamaktadır. Aynı zamanda Nikeland platformunda geliştirilen görevlerle kullanıcıların özel alanlar oluşturmalarına olanak sağlanmakta ve gerçekleştirilen görevler karşılığında ödüllendirmeler yapılarak kullanıcıların teşvik edildiği görülmektedir. Adidas ise Adidas Originals adıyla NFT’lerini satışa çıkarmış olup hem kullanıcıların Sandbox metaverse evreninde kendi avatarlarını giydirebilmelerine hem de gerçek dünyada satışa sunulan Adidas ürünlerinde indirimlere sahip olmalarına olanak sağladığı saptanmıştır. Sonuç olarak Nike ve Adidas gibi globalleşmiş spor markalarının modern dünyanın getirdiği metaverse teknolojisinin kullanımı noktasında adımlar attıkları görülmektedir. Kullanıcılara ulaşmak, rekabeti artırmak ve kullanıcıları spora teşvik etmek spor markalarının metaverse giriş amaçlarını ortaya koymaktadır. Ayrıca, markalar kendi isimlerini taşıyan NFT’leri kullanıcılara satarak hem kendilerinin hem de kullanıcıların kazandıkları bir sistem oluşturmayı hedeflemektedirler. Nike ve Adidas gibi büyük markaların bu faaliyetlerinin diğer markalara da örnek oluşturabileceği düşünülmektedir.

Open access
Virtual Reality Applications and Impacts
Digital Games and Media
Consumer Behavior in Brand Consumption and Identification
Original source
Jan 1, 2024·AIP conference proceedings
0 cites
Metaverse enhance tourism for economic growth in Indonesia: A review

Alvon Danilo Sukardi, Gerry Guinardi, Gerry William Nanlohy, Vanessa Tjandra · 6 authors

The global crisis brought on by COVID-19 is unparalleled. Tourism is one of the many industries that have been made public by the recent COVID-19 epidemic. Indonesia itself was affected by the impact that caused a decrease in both foreign and domestic tourists. Smart tourism through the metaverse concept is one of the proposed solutions to deal with this problem, considering that metaverse has been booming lately, so it can attract the attention of tourists who cannot come directly to the tourist attractions. This paper aims to provide new insights regarding how to improve the Indonesian economy through tourism, so people realize the importance of the metaverse in the future. Moreover, we believe that the future of this metaverse will be very bright because the advantages of technology used in the metaverse are very beneficial for users (Blockchain, Crypto, Non-Fungible Token).

Open access
Virtual Reality Applications and Impacts
Augmented Reality Applications
Educational Games and Gamification
Original source