• Electronics and Telecommunications Trends
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• v.36 no.4
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• pp.81-91
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• 2021

Recently, discussions on Metaverse, which represents the transcendent world, have been dominant for some time. Cases related to the Metaverse are introduced through various media and are continuously attracting attention as the next generation of the Internet. This study reviews the business model and the ecosystem overview, focusing on service cases related to the Metaverse. The widely used business models include content production and sales, media brokerage fee, and marketing fee. The Metaverse ecosystem is formed around games, with major players in game production, authoring tool & support SW, intelligent cloud service, and game platform expected to lead the market. Results show that a strategy to secure the leadership of the Metaverse, such as the business model expansion conditions, a strategy to foster a game-oriented Metaverse ecosystem, and technology development for the realization of the ultra-realistic Metaverse, is necessary.

• Electronics and Telecommunications Trends
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• v.38 no.2
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• pp.56-65
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• 2023

The combination between metaverse and non-fungible token (NFT), which opens up new opportunities for the media industry, raised expectations for a new economic system and business model. Of course, last year, various institutions and researchers continuously introduce representative metaverse services and business strategies such as Roblox, Fortnite, and ZEPETO. However, as 2022 progresses, the reaction to the metaverse is tepid than expected. Search volume on Google has been continuously decreasing. Furthermore, skepticism, regarded as one of the special phenomena caused by the coronavirus disease 2019 pandemic, is expanding since December 2021. Nevertheless, analysis or contemplation of a new business model related to the metaverse, which is still ongoing, is essential for those who must prepare for the future. The reason is that even if without being activated now, advanced preparation can help when various problems arise. In this study, we look at the metaverse and NFT biz models and estimate a picture of the future. In other words, the social and economic problems that may arise when the business model is expanded are summarized, and technical and policy measures are derived as solutions.

• Journal of Information Technology Applications and Management
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• v.30 no.2
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• pp.45-57
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• 2023

Efforts to build metaverse platform services and expand profit structure are developing in a more realistic direction. The metaverse, which has been centered on 'creation and economy' and 'discovery', will evolve into an 'experience' metaverse, creating tangible business effects where satisfaction with the user experience leads directly to purchase. In this paper, the condition of the avatar used as a medium of economic activity between the metaverse platformer and the user and the business utilization plan were sought. In addition, a new 'metaverse business model' was proposed based on 'experience, discovery, creation and economy', and in particular, it was intended to lay the foundation for the experience metaverse to further develop in the form of 'business experience'. In addition, a survey was conducted on the 'application of metaverse service and avatar' targeting the MZ generation, the main customer base of the current metaverse service. In order to provide a service that satisfies the user, it was concluded that the appearance of the avatar needs to be changed according to the purpose and function. Accordingly, we propose an 'selective switch mode' that can change the avatar's appearance at the desired timing according to the 'experience' and 'purchase purpose' of each metaverse service area. In addition, by strategically utilizing the 'Digilog' psychology, we believe that it will be possible to promote the influx of new users while increasing the loyalty of existing users to the platform. Through the establishment of 'avatar purchase system' by 'selective switch mode' and 'avatar decorating system' by 'digilog' strategy, the experience metaverse, which has been focused on 'digital twin experience' so far, is As it develops into 'business experience', it is expected that the user experience can be further satisfied.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.215-224
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• 2021

Business stakeholders have shown huge interests on the way how to increase business value by integrating real world businesses with a rising metaverse concept. To understanding the utility of metaverse regarding digital transformation, this study conducted a qualitative study based on a metaverse framework from 2006 Metaverse Roadmap and reference theories on business models. Specifically, a multiple comparative case approach was adopted to investigate three metaverse application cases from 2000 to 2020. From findings, it was revealed that different metaverse features were tried to leverage traditional simulation games, social communities, and virtual communication activities to build business models. Secondly, the use of metaverse features were likely to be helpful in getting competitive advantages. However, we are also aware that stakeholder credibility should be carefully managed to sustain businesses.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.119-133
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• 2022

The COVID-19 pandemic is rapidly changing the behavior of members of society. Typically, the strong contagious power of the virus minimizes interaction between people in the real world, and they keep interaction activities to a minimum through online activities. Recently, as people demand online activities that enhance a sense of reality, the metaverse, which strengthens the 3D technology-centered sense of presence capability, is being chosen by people. The purpose of this study is to suggest a strategic direction for the establishment of the metaverse business model of startups by presenting factors for users' use and gratification of the metaverse. In detail, this study proposes the motivation for using the metaverse by reflecting the uses and gratification theory, and suggests a method to strengthen the motivation for the metaverse by reflecting the presences provided by the metaverse plotform and individual characteristics (normtive interpersonal influence). We surveyed people over 20 years of age who experienced metaverse and obtained 314 samples. In addition, we conducted the main effect analysis using the structural equation model and the moderating effect analysis using Process 3.1. As a result of hypothesis testing, we confirmed that metaverse presence (telepresence, social presence) has a positive effect on intention to continuous use by increasing metaverse's use and satisfaction factors (information, enjoyment, social interactivity). In addition, we found that individuals' normative interpersonal influence moderated the positive relationship between uses and gratification factors(enjoyment and social interactivity) intention to continuous use. Our study suggests strategies for establishing a user-centered business model for companies related to the metaverse.

• Journal of Intelligence and Information Systems
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• v.29 no.2
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• pp.303-321
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• 2023

Metaverse shopping has emerged as a new phenomenon in social commerce. This study aims to investigate the user experience of metaverse stores shopping based on the S-O-R model. The results of the study show that telepresence, entertainment, personalized recommendation, and social interaction have significant positive effects on flow experience and satisfaction in metaverse shopping. Additionally, satisfaction and flow experience are shown to have significant positive effects on user intentions. This study provides valuable implications for the design and management of metaverse stores to improve user experience and increase user intention.

• International Journal of Internet, Broadcasting and Communication
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• v.16 no.3
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• pp.64-76
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• 2024

We study three sports media start-ups that seek to promote business model innovation (BMI) in which Web 3.0 and metaverse are converged. In results, LM starts from an innovative digital space platform offering a unique combination of virtual real estate, games, and non-fungible tokens (NFTs) which come with real-world earning potential. It creates value by integrating virtual real estate, training academies, blockchain games, and meta shops to offer a unique experience, capture value by offering monetization tools for buying and trading limited edition NFTs of favorite influencers from various sports leagues, offering access to premier real-world events and VIP game contests, and delivers value by building community to play games with favorite athletes or teams including trivia games, allowing fans to engage with their favorite athletes in a unique exclusive way. SL starts from the customizable digital identities especially for young sports fans like generation (gen) Z to play, hang out, and express themselves with their own avatars. SI starts from a leading Web3.0 metaverse innovator creating NFTs with the greatest athletes of all time, allowing athletes and creators to set up a profile and mint NFTs directly onto the blockchain. It tries to have the partnerships with great athletes revolutionizing the sports media industry to connect sports heroes and their super fans through an immersive, artistic, inspirational NFTs and unlockable content creating a sticky community between them.

• Journal of Korean Society for Quality Management
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• v.51 no.1
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• pp.97-117
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• 2023

Purpose: The purpose of this study is to examine the factors affecting the intention to continue using the metaverse platform service from the user's point of view. Methods: The study conducted a survey of experienced people using Zepeto, Ifland, Gather Town, Zep, Roblox, Fortnite, and Minecraft, which are virtual world types among metaverse types, and valid 415 data were analyzed by SPSS (ver 22.0) and R (ver 4.1.0) program packages. Results: As a result of empirical analysis, it was found that interactivity and social presence among the characteristics of metaverse affected expectation confirmation, and sensory affordance and functional affordance affected expectation confirmation as affordance factors. In addition, all four characteristics of metaverse, reliability, playfulness, interactivity, and social presence, were found to have the greatest affect on perceived usefulness, and it was analyzed that playfulness, social presence, and reliability were influenced in order. The affordance factor was also found to have a positive effect on physical affordance, sensory affordance, and functional affordance. This study was found that it had a positive effect on the relationship between expectation confirmation and satisfaction and the relationship between perceived usefulness and satisfaction. satisfaction was analyzed to lead to continuance intention. Conclusion: This study is meaningful in that it examines the perspective of users who can be called customers of metaverse platform services. Based on the results of this study, it is expected to have a significant effect on the development of metaverse platform services not only on platform operators that provide metaverse platform services but also on providers who plan events and education using metaverse platform services.

• International journal of advanced smart convergence
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• v.13 no.2
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• pp.119-129
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• 2024

We look at Web 3.0 business model canvas (BMC) of metaverse gaming platform, The Sandbox (TS). As results, the decentralized, blockchain-based platform, TS benefits its creators and players by providing true ownership, tradability of decentralized assets, and interoperability. First, in terms of the governance and ownership, The SAND functions a governance token allowing holders to participate in decision and SAND owners can vote themselves or delegate voting rights to other players of their choice. Second, in terms of decentralized assets and activities, TS offers three products as assets like Vox Edit as a 3D tool for voxel ASSETS, Marketplace as NFT market, and Game Maker as a visual scripting toolbox. The ASSETS made in Vox Edit, sold on the Marketplace, can be also utilized with Game Maker. Third, in terms of the network technology, in-game items are no longer be confined to a narrow ecosystem. The ASSETS on the InterPlanetary File System (IPFS) are not changed without the owner's permission. LAND and SAND are supported on Polygon, so that users interact with their tokens in a single place. Last, in terms of the token economics, users can acquire in-game assets, upload these assets to the marketplace, use for paying transaction fees, and use these as governance token for supporting the foundation.

• Journal of Information Technology Applications and Management
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• v.30 no.6
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• pp.53-68
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• 2023

Through the COVID-19 pandemic, the demand for non-face-to-face communication systems has surged, leading to an increased prevalence of virtual interactions across various domains, such as tasks, meetings, orders and deliveries, and even student education. Against this backdrop, interest in the metaverse platform has been on the rise, with metaverse services like Zepeto, Roblox, and Minecraft expanding beyond gaming to encompass educational fields as well. This study aims to identify authenticity factors influencing metaverse platform-based educational services and examine their impact. The authenticity components are defined as integrity, empathy, interactivity, presence, and uniqueness. The study investigates the effects of these authenticity components on both service value and service satisfaction. To achieve this, a survey involving 320 metaverse users was conducted, and the model was subjected to statistical validation. The findings of this research underscore that perceiving metaverse education services, still in the early stages of introduction, as authentic educational methods for learners positively influences satisfaction with the educational service.This study holds significance as it lays the theoretical groundwork for enhancing the authenticity of educational services in virtual space. It defines and proposes authenticity elements for customer satisfaction in metaverse educational services, which are still in their nascent stages. Moving forward, it is anticipated that various studies will be conducted to enhance the value of metaverse education services and achieve higher customer satisfaction as customer experiences evolve and deepen.