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1 2023

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The business dimension of metaverse

Surma Jerzy

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

2023

z. 170

517--529

Purpose: This paper aims is to identify the key business opportunities and potential threats to companies that arise as Metaverse-like platforms development. The focus is on companies which can use the functionalities Metaverse offers and on the fact that their customers may soon be spending their time there in great numbers. Design/methodology/approach: From company perspective, the purposes set out in this paper are pursued under strategic analysis. In this context, SWOT analysis comes as an appropriate method. This paper does not pertain to a specific company or industry; therefore, the analysis will be confined to Opportunities and Threats that are, in essence, independent of the business sector and concern Metaverse’s impact on the business world. The source materials for the said analysis derive from the latest research literature and reports of consulting companies. Findings: This paper identifies the fundamental business opportunities in the context of the envisaged Metaverse development. They were confronted with issues and risks associated with the practical development and use of such platforms. Research limitations/implications: Metaverse is in its initial development phase; therefore, the identification of opportunities and threats is tentative and it should be revised as the technology progresses and the practical solutions become established. Moreover, the analysis in question is based on the projected development of Metaverse, hence the ensuing conclusions should be approached with caution. Practical implications: This paper provides a list of the fundamental business opportunities and threats which should be taken into account by companies devising their strategy concerning the use of Metaverse platforms. Social implications: The pertinent threats fundamentally affect the situation of the society in the digital world. Hence, it is too important to be aware of the threats, pursue appropriate polices of privacy, ethical business, social responsibility, and finally to adopt relevant legal regulations on the state level. Originality/value: One of the first research papers discussing the business potential and threats surrounding the development of Metaverse.