Influential Factors in the Design and Development of a Sustainable Web3/Metaverse and Its Applications

Reza Aria (), Norm Archer, Moein Khanlari and Bharat Shah
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Reza Aria: Computer Science Department, University of Central Florida, Orlando, FL 32816, USA
Norm Archer: DeGroote School of Business, McMaster University, Hamilton, ON L8S 4L8, Canada
Moein Khanlari: Peter T. Paul College of Business and Economics, University of New Hampshire, Durham, NH 03824, USA
Bharat Shah: Ted Rogers School of Management, Toronto Metropolitan University, Toronto, ON M5B 2K3, Canada

Future Internet, 2023, vol. 15, issue 4, 1-18

Abstract: This paper summarizes the work of many different authors, industries, and countries by introducing important and influential factors that will help in the development, successful adoption, and sustainable use of the Web3/metaverse and its applications. We introduce a few important factors derived from the current state-of-the-art literature, including four essential elements including (1) appropriate decentralization, (2) good user experience, (3) appropriate translation and synchronization to the real world, and (4) a viable economy, which are required for appropriate implementation of a metaverse and its applications. The future of Web3 is all about decentralization, and blockchain can play a significant part in the development of the Metaverse. This paper also sheds light on some of the most relevant open issues and challenges currently facing the Web3/metaverse and its applications, with the hope that this discourse will help to encourage the development of appropriate solutions.

Keywords: web3; metaverse; blockchain; virtual reality; augmented reality (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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