The Opportunities of Using the Metaverse from a Business Perspective

Radka Bauerová (), Ondřej Mikšík, Lucie Vavrušková, Kateřina Gavendová, Veronika Haladejová and Pavel Vavruška
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Radka Bauerová: Department of Business Economics and Management, School of Business Administration, Silesian University
Ondřej Mikšík: Department of Business Economics and Management, School of Business Administration, Silesian University
Lucie Vavrušková: Department of Business Economics and Management, School of Business Administration, Silesian University
Kateřina Gavendová: Department of Business Economics and Management, School of Business Administration, Silesian University
Veronika Haladejová: Department of Business Economics and Management, School of Business Administration, Silesian University
Pavel Vavruška: Department of Informatics and Mathematics, School of Business Administration, Silesian University

No 72, Working Papers from Silesian University, School of Business Administration

Abstract: Metaverse is a word so resonant in recent literature, yet so overlooked by many entrepreneurs. Despite the vast possibilities that the metaverse offers, its almost limitless nature is also responsible for the confusion that entrepreneurs may feel in connection with it. Despite the fact that it may be difficult for some to navigate the tangle of terms such as NFT, blockchain, avatar, and web 3.0, entrepreneurs should keep in mind that the metaverse is envisioned as the future evolution of the Internet, which will bring new opportunities for their businesses. The aim of this working paper is therefore to present the possibilities of the metaverse from the perspective of business opportunities. The contents of this paper are review studies on the current use and future possibilities of using the metaverse in marketing and business activities. The outcome of these studies is the definition of research directions within the research area that the authors believe are worth exploring in the future to increase knowledge that will contribute to the likelihood of metaverse acceptance as a platform for business.

Keywords: avatar; metaverse; NFT; web 3.0; metaverse retailing (search for similar items in EconPapers)
JEL-codes: M1 M3 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2022-07-31
New Economics Papers: this item is included in nep-pay
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