• Information Systems Review
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• v.26 no.1
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• pp.151-172
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• 2024

Metaverse, which supports social and economic activities in the virtual world, is being cited as the core of future Web 3.0 businesses. However, most of the major metaverse platforms currently adhere to the Web 2.0 system and are operated in a centralized manner. Accordingly, this study investigated the form of metaverse operation by examining the case of Decentraland, a metaverse platform operated as DAO, a decentralized autonomous organization in the form of Web 3.0. From the case analysis, we found that Decentraland had positive characteristics such as a horizontal operating structure, fair profit distribution, and transparency, but there were challenges including the possibility of returning to centralization in the operating process, the possibility of abuse of an autonomous system, and inefficiency in decision-making. Therefore, in this study, the timing of transition to DAO governance was discussed, and DAO's efforts for business continuity and the need for adjustment for autonomous operation were suggested as implications. The implications presented in this study are expected to contribute to materializing not only practical but also theoretical aspects of platform operation aimed at web 3.0 as well as the metaverse.