The metaverse economy: Its opportunities and risks

Abstract

The Metaverse is a virtual world in which humans can interact both with each other and this virtual environment. The development of the Metaverse can only be matched by the discovery of the New World in the 15th century in terms of effect. This New World combines virtual reality, augmented reality, blockchain technology and the internet. Therefore, the Metaverse is a whole new world with its various opportunities and risks. As the ultimate goal of the metaverse is to pair with the real world, it is of utmost importance to learn its economic content. The aim of this research is to examine the economic content of the Metaverse and identify the economic opportunities and risks present in it. For instance, in the Metaverse, with its big data characteristics, it will become much easier to model and simulate the economic actions of the participants. And this in turn will give us a huge advantage in forecasting the future. But needless to say, this also posits some of the risks associated with the Metaverse. Because with this great forecasting capability comes also a huge power which will be owned by the rulers of this Metaverse.