Is the future of the metaverse bleak or bright? Role of realism, facilitators, and inhibitors in metaverse adoption

Khuram Shahzad, Muhammad Ashfaq, Abaid Ullah Zafar and Sarah Basahel

Technological Forecasting and Social Change, 2024, vol. 209, issue C

Abstract: The emergence of the metaverse has been considered a vital milestone in the digital world owing to its potential for relevant stakeholders. Nevertheless, it is struggling to proliferate at the introductory stage, yet it can be a contemporary avenue to influence consumer decisions. The existing body of knowledge offers limited insight regarding the metaverse, particularly from the lens of encouraging and discouraging reasons to adopt the metaverse. This research proposes a framework drawing on behavioral reasoning theory to resolve this anomaly. Respondents were approached through a survey, and data were analyzed using structural equation modeling to assess the developed research model and the proposed relationships. Results disclose that perceived realism positively influences “reasons for” (RFA, i.e., new social experience, new immersion experience, and new shopping experience) and consumers' attitudes, whereas it negatively affects consumer “reasons against” (RAA, i.e., perceived privacy, perceived strain, and perceived lack of control) for metaverse adoption. Interestingly, RAA strongly dissuade consumers' attitude and intention to adopt metaverse compared to the RFA; besides, these encouraging reasons do not exert a significant impact on consumers' intention. Perceived personal situation meaningfully moderates the impact of RAA and attitude on intention. This study offers a profound understanding of individuals' cognitive mechanisms for adopting metaverse and guides them to excavate further for more circumstantial acumens. Businesses and policymakers should consider said findings and implement a proactive approach to improve consumers' metaverse experience and resolve their concerns for a sustainable future.

Keywords: Metaverse; Adoption intention; Perceived realism; Reasons against; Reasons for; Behavioral reasoning theory (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:209:y:2024:i:c:s0040162524005663

DOI: 10.1016/j.techfore.2024.123768

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