TY - JOUR T1 - RELATIONSHIP BETWEEN METAVERSE CRYPTOCURRENCIES (META COINS) AND SUSTAINABILITY INDICES AU - Say, Servet AU - Dogan, Mesut PY - 2023 DA - December Y2 - 2023 JF - Journal of Business Economics and Finance JO - JBEF PB - Dilek TEKER WT - DergiPark SN - 2146-7943 SP - 142 EP - 149 VL - 12 IS - 4 LA - en AB - Purpose- The purpose of this study is to determine the relationship between metaverse and sustainability indices. MANA token was used as a metaverse indicator in the study. Dow Jones Sustainability Emerging Markets Index (DJS_EMI), Dow Jones Sustainability World Index (DJS_WI), Dow Jones Sustainability Europe Index (DJS_EI) were used as sustainability indices.Methodology- In this research, the dynamic relationships between Metaverse and 3 sustainable indices used in the study were analyzed with a time-varying parameter vector autoregressive (TVP-VAR) model. This method is based on the fixed parameter sliding window VAR approach, first developed by Antonakakis and Gabauer (2017) and later updated by Diebold and Yılmaz (2009, 2012, 2014). Findings- DSJ_EMI variable carries a volatility spread of 24.85% to “DSJ_WI”, 24.81% to “DSJ_EI” and 25.40% to “METAVERSE”. “DSJ_WI” has a 59.68% volatility spread to other variables. The variables “DSJ_EMI” 25.04%, “DSJ_EI” 25.10% and “METAVERSE” 24.69% carry out volatility spread. Finally, while 70.79% of the volatility change in the "METAVERSE" variable is due to itself, a total of 29.21% is due to other variables. The variables “DSJ_EMI” 9.74%, “DSJ_WI” 9.74% and “DSJ_EI” 9.73% perform volatility spread.Conclusion- Mana (Decentraland Token) is the cryptocurrency used in the virtual reality platform called Decentraland. Metaverse refers to a digital universe called virtual reality, augmented reality and virtual world. Decentraland is a decentralized virtual reality platform that allows users to create, trade and interact with their own digital content.As a result of the analysis, it was determined that MANA, a Metavarse crypto asset, spreads volatility to sustainability indices. In other words, the MANA token spreads volatility to sustainability indices. KW - Metaverse KW - metaverse cryptocurrincies KW - meta coins KW - sustainability ındex KW - TVP-VAR CR - Aharon, D. Y. & Demir, E. (2021). NFTs and asset class spillovers: lessons from the period around the COVID-19 pandemic. Finance Research Letters, 19, 102515. CR - Akkus, H. T., & Dogan, M. (2023). Analysis of dynamic connectedness relationships between cryptocurrency, NFT and DeFi assets: TVP-VAR approach. Applied Economics Letters, 12, 1-6. CR - Akkus, H. T., Gursoy, S., Dogan, M., & Demir, A. B. (2022). Metaverse and metaverse cryptocurrencies (meta coins): Bubbles or future? Journal of Economics Finance and Accounting, 9(1), 22-29. 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Sustainable Energy, Grids and Networks, 28, 100527 UR - https://dergipark.org.tr/en/pub/jbef/issue//1423067 L1 - https://dergipark.org.tr/en/download/article-file/3673479 ER -