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Entrepreneurship in The World of Metaverse: Virtual or Real?

Year 2022, Volume 2, Issue 2, 71 - 82, 31.12.2022

Abstract

In this study, an in-depth literature review method was applied. Period; It examines academic studies and current information on the internet and its interpretation of entrepreneurship in the metaverse world. For those who want to be entrepreneurs in the world of Metaverse, business opportunities, conveniences and difficulties of Metaverse are evaluated. The concepts of virtual reality and virtual world, which are the leading steps of the rapidly developing digital age, are gaining importance. The metaverse world, which leads them and breaks new ground in the virtual world, is a universe in which it is predicted that investors will make large investments in terms of technology and economy. For this purpose, the researcher examined studies in the metaverse literature, and as a result of these studies, the subject of entrepreneurship in the metaverse world was discussed. In the metaverse world, the study results on entrepreneurship are seen as an opportunity to be seized economically. Those who will participate in the upcoming metaverse shift will seize this great opportunity. Another finding is that taking place in the metaverse world is not suitable for the time being in terms of costs. To avoid being affected by increasing costs, it is recommended that entrepreneurial individuals first determine a good idea and make a good feasibility study on how to realise this idea in the virtual world. This article is an original study that addresses the benefits, conveniences and challenges of being an entrepreneur in the Metaverse world. The literature review found no investigation on entrepreneurship in the Metaverse world. The fact that the Metaverse has the potential to have great effects on the business world and social life standards in the future makes this research more interesting. In addition, by specifying the impact of Metaverse on the business world, it has been tried to shed light on the problems and opportunities that large or small-scale enterprises and entrepreneurs will face in the future.

References

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  • R. Dixon, “What You Need To Know About How the Metaverse Will Affect Business”, Entrepreneur, 2022.
  • J. Wong, “How Will The Metaverse Impact Businesses In The Consumer Goods Sector?”, Forbes, 2022.
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  • C. Hackl, “Defining The Metaverse Today”, Forbes, 2021. [Çevrimiçi]. Available at: https://www.forbes.com/sites/cathyhackl/2021/05/02/defining-the-metaverse-today/?sh=7c386ad46448.
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  • J. H. I. Seow, “Metaverse: A Game-changing Innovation For Entrepreneurs”, Entrepreneur, 2021.
  • H. soo Choi ve S. heon Kim, “A content service deployment plan for metaverse museum exhibitions—Centering on the combination of beacons and HMDs”, Int. J. Inf. Manage., c. 37, sayı 1, ss. 1519–1527, Şub. 2017.
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Year 2022, Volume 2, Issue 2, 71 - 82, 31.12.2022

Abstract

References

  • J. B. Madsen, “Aspects of User Experience in Augmented Reality”, Aalborg Universitetsforlag, 2016.
  • D. Gomez, G. Burdea, ve N. Langrana, “Integration of the Rutgers Master II in a virtual reality simulation”, içinde Proceedings Virtual Reality Annual International Symposium ’95, 1995, ss. 198–202.
  • M. Cohn, “Prager Metis sets up first CPA firm in metaverse”, Accounting Today, 2022.
  • M. Maurer, “Accounting Firms Scoop Up Virtual Land in the Metaverse”, The Wall Street Journal, 2022.
  • R. Dixon, “What You Need To Know About How the Metaverse Will Affect Business”, Entrepreneur, 2022.
  • J. Wong, “How Will The Metaverse Impact Businesses In The Consumer Goods Sector?”, Forbes, 2022.
  • L. Zhang, “MRA: Metaverse Reference Architecture”, içinde Internet of Things -- ICIOT 2021, 2022, ss. 102–120.
  • C. Hackl, “Defining The Metaverse Today”, Forbes, 2021. [Çevrimiçi]. Available at: https://www.forbes.com/sites/cathyhackl/2021/05/02/defining-the-metaverse-today/?sh=7c386ad46448.
  • D. L. Panucci ve T. Bullard-Whyke, “‘Coherency’ Alternative to the ‘Singularity’: Coherent Heart Entrainment”, içinde Handbook of Research on Global Media’s Preternatural Influence on Global Technological Singularity, Culture, and Government (Advances in Media, Entertainment, and the Arts), ‎ Information Science Reference, 2022, s. 46.
  • D. Yang vd., “Expert consensus on the metaverse in medicine”, Clin. eHealth, c. 5, ss. 1–9, 2022.
  • J. H. I. Seow, “Metaverse: A Game-changing Innovation For Entrepreneurs”, Entrepreneur, 2021.
  • H. soo Choi ve S. heon Kim, “A content service deployment plan for metaverse museum exhibitions—Centering on the combination of beacons and HMDs”, Int. J. Inf. Manage., c. 37, sayı 1, ss. 1519–1527, Şub. 2017.
  • S. Kraus, D. Kanbach, P. Krysta, M. Steinhoff, ve N. Tomini, “Facebook and the creation of the metaverse: Radical business model innovation or incremental transformation?”, Int. J. Entrep. Behav. Res., ss. 1–27, 2022.
  • S. B. Hall ve B.-L. Moritz, “3 technologies that will shape the future of the metaverse – and the human experience”, World Economic Forum, 2022. [Çevrimiçi]. Available at: https://www.weforum.org/agenda/2022/02/future-of-the-metaverse-vr-ar-and-brain-computer/.
  • M. Ball, “Evolving User + Business Behaviors and the Metaverse”, içinde The Metaverse Primer, 2021, s. Part IX.
  • M. Ball, “The metaverse: and how it will revolutionize everything”, Liveright Publishing Corporation, 2022. [Çevrimiçi]. Available at: https://www.matthewball.vc/all/forwardtothemetaverseprimer.
  • S. Hollensen, P. Kotler, ve M. O. Opresnik, “Metaverse – the new marketing universe”, J. Bus. Strategy, c. ahead-of-p, sayı ahead-of-print, 2022.
  • A. C. Max, “Mark Zuckerberg’s metaverse will require computing tech no one knows how to build”, Protocol, 2022. [Çevrimiçi]. Available at: https://www.protocol.com/enterprise/metaverse-zuckerberg-computing-infrastructure.
  • R. S. Somula ve R. Sasikala, “A survey on mobile cloud computing: Mobile Computing + Cloud Computing (MCC = MC + CC)”, Scalable Comput. Pract. Exp., c. 19, sayı 4, ss. 309–337, 2018.
  • M. Bi, Y. Wang, Y. Li, ve X. Tong, “A Privacy-Preserving Mechanism based on Local Differential Privacy in Edge Computing”, China Commun., c. 17, sayı 9, ss. 50–65, 2020.
  • M. Ball, “The Metaverse: What It Is, Where to Find it, and Who Will Build It”, MatthewBall.vc, 2020. [Çevrimiçi]. Available at: https://www.matthewball.vc/all/themetaverse.
  • D. Owens, A. Mitchell, D. Khazanchi, ve I. ZIgurs, “An Empirical Investigation of Virtual World Projects and Metaverse Technology Capabilities”, SIGMIS Database, c. 42, sayı 1, ss. 74–101, 2011.
  • L. Lee vd., “All One Needs to Know about Metaverse: A Complete Survey on Technological Singularity, Virtual Ecosystem, and Research Agenda”, J. Latex Cl. Files, c. 14, sayı 8, 2021.
  • Y. Bian, J. Leng, ve J. L. Zhao, “Demystifying Metaverse as a New Paradigm of Enterprise Digitization”, içinde Big Data -- BigData 2021, 2022, ss. 109–119.
  • H. Ning vd., “A Survey on Metaverse: the State-of-the-art, Technologies, Applications, and Challenges”, CoRR, c. abs/2111.0, 2021.
  • C. Hackl, “The Metaverse Is Coming And It’s A Very Big Deal”, Forbes, 2020. [Çevrimiçi]. Available at: https://www.forbes.com/sites/cathyhackl/2020/07/05/the-metaverse-is-coming--its-a-very-big-deal/?sh=3c0db5d440fa.
  • N. Kelly, “Some Predictions for How the Metaverse Will Impact Our Lives”, Entrepreneur, 2022.
  • H. Duan, J. Li, S. Fan, Z. Lin, X. Wu, ve W. Cai, “Metaverse for Social Good: A University Campus Prototype”, içinde Proceedings of the 29th ACM International Conference on Multimedia, New York, NY, USA: Association for Computing Machinery, 2021, ss. 153–161.
  • M. Forte, N. Lercari, F. Galeazzi, ve D. Borra, “Metaverse Communities and Archaeology: The Case of Teramo”, içinde 3rd International Conference dedicated on Digital Heritage, 2010, ss. 79–85.
  • E. Dai ve J. Bal, “Harmonising culture in co-operative business ventures: using a simulation in a metaverse”, içinde Proceedings of the 3rd European Conference on Games Based Learning, 2009, ss. 412–420.
  • K. B. Wilson, A. Karg, ve H. Ghaderi, “Prospecting non-fungible tokens in the digital economy: Stakeholders and ecosystem, risk and opportunity”, Bus. Horiz., 2021.
  • D. Tomás, “The new crypto niche: NFTs, play-to-earn, and metaverse tokens”, Financ. Res. Lett., s. 102742, 2022.
  • S. Boutillier ve D. Uzunidis, “Entrepreneur: Etymological Bases”, içinde Encyclopedia of Creativity, Invention, Innovation and Entrepreneurship, New York, NY: Springer New York, 2013, ss. 580–584.
  • C. Marcotte, “Entrepreneurship and innovation in emerging economies”, Int. J. Entrep. Behav. Res., c. 20, sayı 1, ss. 42–65, Oca. 2014.
  • M. Betta, R. Jones, ve J. Latham, “Entrepreneurship and the innovative self: A Schumpeterian reflection”, Int. J. Entrep. Behav. Res., c. 16, sayı 3, ss. 229–244, 2010.
  • C. Vallaster, S. Kraus, N. Kailer, ve B. Baldwin, “Responsible entrepreneurship: outlining the contingencies”, Int. J. Entrep. Behav. Res., c. 25, sayı 3, ss. 538–553, 2019.
  • S. A. Zahra, “Entrepreneurial risk taking in family firms”, Fam. Bus. Rev., c. 18, sayı 1, ss. 23–40, 2005.
  • L. A. Zampetakis, K. Kafetsios, N. Bouranta, T. Dewett, ve V. S. Moustakis, “On the relationship between emotional intelligence and entrepreneurial attitudes and intentions”, Int. J. Entrep. Behav. Res., c. 15, sayı 6, ss. 595–618, Oca. 2009.
  • M. Kobia ve D. Sikalieh, “Towards a search for the meaning of entrepreneurship”, J. Eur. Ind. Train., c. 34, sayı 2, ss. 110–127, 2010.
  • N. V Loc, “Entrepreneurship-The basis for building the cultural value system of Vietnamese entrepreneurs”, Econ. Bus. Mag., c. 27, ss. 232–239, 2011.
  • J. A. Katz, S. R. Safranski, ve O. Khan, “Virtual Instant Global Entrepreneurship”, J. Int. Entrep., c. 1, ss. 43–57, 2003.
  • V. Dutot ve C. Van Horne, “Digital Entrepreneurship Intention in a Developed vs. Emerging Country: An Exploratory Study in France and the UAE”, Transnatl. Corp. Rev., c. 7, sayı 1, s. 85, 2015.
  • F. Zhao ve A. Collier, “Digital Entrepreneurship: Research and Practice”, içinde 9th Annual Conference of the EuroMed Academy of Busines, 2016, s. 2173.
  • N. Hair, L. R. Wetsch, C. E. Hull, V. Perotti, ve Y. T. C. Hung, “Market orientation in digital entrepreneurship: Advantages and challenges in a web 2.0 networked world”, Int. J. Innov. Technol. Manag., c. 9, sayı 6, 2012.
  • C. E. Hull, Y.-T. C. Hung, N. Hair, V. Perotti, ve , Richard DeMartino, “Taking advantage of digital opportunities: a typology of digital entrepreneurship”, Int. J. Netw. Virtual Organ., c. 4, sayı 3, ss. 290–303, 2007.
  • S. Kieger, “An Exploration of Entrepreneurship in Massively Multiplayer Online Role-Playing Games: Second Life and Entropia Universe”, J. Virtual Worlds Res., c. 2, 2010.
  • R. D. Hof, “A journey into a place in cyberspace where thousands of people have imaginary lives. Some even make a good living. Big advertisers are taking notice”, Business Week, 2006. [Çevrimiçi]. Available at: http://large.stanford.edu/publications/coal/references/hof/.
  • Commission of The European Communities, “Green Paper Entrepreneurship in Europe”. ss. 7–9, 2003.
  • L. Szerb, E. Lafuente, G. Márkus, ve Z. Acs, “Global Entrepreneurship Index 2019”. 2020.
  • D. Buhalis ve N. Karatay, “Mixed Reality (MR) for Generation Z in Cultural Heritage Tourism Towards Metaverse”, içinde ENTER 2022: Information and Communication Technologies in Tourism 2022, 2022, ss. 16–27.
  • D. Y. Aharon ve E. Demir, “NFTs and asset class spillovers: Lessons from the period around the COVID-19 pandemic”, Financ. Res. Lett., s. 102515, 2021.
  • Meta, “The Metaverse and How We’ll Build It Together - Connect 2021”, Youtube, 2021. [Çevrimiçi]. Available at: https://www.youtube.com/watch?v=Uvufun6xer8.
  • J. Lopez-Diez, “Metaverse: Year One. Mark Zuckerberg’s video keynote on Meta (October 2021) in the context of previous and prospective studies on metaverses”, Pensar la Publicidad. Rev. Int. Investig. Public., c. 15, sayı 2, ss. 299–303, 2021.
  • M. Zuckerberg, “Founder’s Letter, 2021”, Meta, 2021. [Çevrimiçi]. Available at: https://about.fb.com/news/2021/10/founders-letter/.
  • U.-K. Lee, “Tourism Using Virtual Reality: Media Richness and Information System Successes”, Sustainability, c. 14, sayı 7, s. 3975, 2022.
  • R. Lang, “Try before you buy: A theory of dynamic information acquisition”, J. Econ. Theory, c. 183, ss. 1057–1093, 2019.
  • Y. Kang, “Metaverse Framework and Building Block”, J. Korea Inst. Inf. Commun. Eng., c. 25, sayı 9, ss. 1263–1266, 2021.
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Details

Primary Language English
Subjects Humanities, Multidisciplinary
Journal Section Reviews
Authors

Aysun Devrim YEMENİCİ> (Primary Author)
It is not affiliated with an institution
0000-0001-9623-1652
Türkiye

Publication Date December 31, 2022
Application Date June 4, 2022
Acceptance Date August 22, 2022
Published in Issue Year 2022, Volume 2, Issue 2

Cite

APA Yemenici, A. D. (2022). Entrepreneurship in The World of Metaverse: Virtual or Real? . Journal of Metaverse , 2 (2) , 71-82 . Retrieved from https://dergipark.org.tr/en/pub/jmv/issue/71114/1126135