Metaverse in the Play: A Platform for Entrepreneurship and Innovation

Saheed Oluwaseun Lawal, Habibat Bolanle Abdulkareem

Abstract


The Metaverse, a virtual environment that combines augmented reality (AR), virtual reality (VR), and other immersive technologies, has emerged as a promising platform for entrepreneurship and innovation. This paper explores the role of the Metaverse as a playground for entrepreneurial activities, fostering creativity, collaboration, and the development of innovative ventures. The Metaverse offers entrepreneurs a unique opportunity to break free from traditional physical limitations and explore new frontiers of business creation. Through virtual interaction and engagement, entrepreneurs can transcend geographical boundaries, connecting with a global audience and accessing a diverse pool of resources, expertise, and markets. Furthermore, the immersive nature of the Metaverse provides entrepreneurs with novel ways to showcase and distribute their products and services. By leveraging AR and VR technologies, entrepreneurs can create engaging and interactive experiences that captivate customers and differentiate their offerings in the digital realm. Collaboration is another key aspect of the Metaverse as a platform for entrepreneurship. Entrepreneurs can form virtual teams, collaborate with experts from various fields, and engage in co-creation, leveraging the collective intelligence and talents available within the Metaverse community. This collaborative environment fuels innovation and enables the rapid prototyping and iterative development of novel ideas and solutions. However, while the Metaverse presents exciting opportunities, it also raises important considerations. Ethical and privacy concerns, ensuring inclusivity, and addressing potential inequalities are crucial aspects that need to be carefully navigated. In conclusion, the Metaverse is a playground for entrepreneurship and innovation, offering a fertile ground for entrepreneurial activities. By leveraging its immersive technologies, global connectivity, collaborative potential, and innovative capabilities, entrepreneurs can harness the power of the Metaverse to create transformative ventures that shape the future of business and society

Keywords


augmented reality; entrepreneurship; global connectivity; innovation; metaverse; virtual reality.

Full Text:

PDF

References


Bailenson, J. N. (2018). Experience on demand: What virtual reality is, how it works, and what it can do. WW Norton & Company.

Bollen, J., Plachkinova, M., & Asghar, M. Z. (2017). Reputation systems in the blockchain: An analysis of the state-of-the-art and research opportunities. Journal of Information Security and Applications, 38, 18-28.

Castronova, E. (2006). Synthetic worlds: The business and culture of online games. University of Chicago Press.

Chesbrough, H. W. (2006). Open innovation: A new paradigm for understanding industrial innovation. In Open Innovation: Researching a New Paradigm (pp. 1-12). Oxford University Press.

Choi, S. M., Kim, D., & Lee, H. (2019). The impact of virtual reality marketing on consumer purchase intention. Journal of Business Research, 100, 547-560.

Deterding, S. (2019). Designing for virtual worlds. In The Oxford Handbook of Virtuality (pp. 209-225). Oxford University Press.

Ekblaw, A., Azaria, A., Halamka, J. D., & Lippman, A. (2016). A case study for blockchain in healthcare: "MedRec" prototype for electronic health records and medical research data. In Proceedings of the 2016 IEEE Open & Big Data Conference (OBD) (pp. 25-30).

Hjorth, L., & Richardson, I. (2020). Digital entrepreneurship and innovation: An introduction. In Digital Entrepreneurship and Innovation (pp. 1-20). Routledge.

Kietzmann, J. H., Hermkens, K., McCarthy, I. P., & Silvestre, B. S. (2021). The metaverse is virtual reality's next frontier. Harvard Business Review. Retrieved from https://hbr.org/2021/03/the-metaverse-is-virtual-realitys-next-frontier

Kostakos, V., Goncalves, J., Hosio, S., & Karapanos, E. (2021). Metaverse regulation: A research agenda. Proceedings of the ACM on Human-Computer Interaction, 5(CSCW1), 1-25.

Lanier, J. (2010). You are not a gadget: A manifesto. Vintage.

Steuer, J. (1992). Defining virtual reality: Dimensions determining telepresence. Journal of Communication, 42(4), 73-93.

Swan, M. (2015). Blockchain: Blueprint for a new economy. O'Reilly Media.

Tasci, A. D., Gretzel, U., & Fesenmaier, D. R. (2021). Virtual reality and augmented reality in tourism research. Journal of Travel Research, 0047287520986192.

Zheng, Z., Xie, S., Dai, H., Chen, X., & Wang, H. (2017). Blockchain challenges and opportunities: A survey. International Journal of Web and Grid Services, 13(3), 352-375.




DOI: https://doi.org/10.17509/jpm.v9i2.69241

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Universitas Pendidikan Indonesia (UPI)

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Jurnal Pendidikan Manajemen Perkantoran   View My Stats