Virtual Dimension—A Primer to Metaverse

Zainab, Hijab e; Bawany, Narmeen Zakaria; Imran, Jaweria; Rehman, Wajiha

doi:10.1109/mitp.2022.3203820

Cited by 15 publications

(5 citation statements)

References 12 publications

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“…It aligns with Zadorozhnyi et al [3] who discuss how blockchain technology enhances asset security and transparency by contributing to increased perceived value within virtual environments. Additionally, Accountant 7's highlighting of the importance of interoperability is supported by Zainab et al [2], which emphasize the significance of assets capable of seamless interaction across various virtual platforms. These findings collectively underscore the pivotal role of technological innovation and interoperability in shaping asset valuation dynamics within the evolving metaverse landscape.…”

Section: Research Question 1: How Can We Accurately Determine the Val...mentioning

confidence: 99%

“…The Metaverse is a collective virtual shared space which is created by the convergence of virtually enhanced physical reality and physically persistent virtual reality [1]. It includes a wide range of immersive experiences, including virtual reality (VR), augmented reality (AR), and mixed reality (MR), where users can interact with each other and the virtual environment in real-time [2]. As the Metaverse continues to evolve and gain popularity, it is crucial to develop comprehensive and adaptable valuation methods, accounting principles, and asset classification systems to accurately represent the financial aspects of this virtual realm.…”

Section: Introductionmentioning

confidence: 99%

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Valuation, Accounting Principles, and Classification of Assets in the Metaverse

Akin,

Akın

2024

Journal of Metaverse

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This study explores the valuation methods, accounting principles, and asset classification systems needed for accurate financial reporting in the Metaverse. The unique characteristics of virtual assets in the Metaverse pose challenges for traditional valuation methods and require the development of comprehensive and adaptable approaches. This study utilizes qualitative research methods, including in-depth interviews with accounting professionals in Bath and Bristol, UK. Fourteen accountants were selected based on their expertise in accounting and their understanding of the Metaverse. The findings reveal that effective governance, regulatory mechanisms, and community-driven protocols influence asset values in the Metaverse. It is shaped by factors such as engagement, scarcity, and competition. Tailored accounting principles should address legal recognition, accurate tracking, jurisdictional restrictions, and risk management. Compliance with regulations, transparent reporting, and collaboration with regulatory authorities are crucial, alongside integrating innovative technologies like blockchain for robust accounting practices.

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Section: Research Question 1: How Can We Accurately Determine the Val...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Valuation, Accounting Principles, and Classification of Assets in the Metaverse

Akin,

Akın

2024

Journal of Metaverse

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“…The metaverse, often described as a collective virtual shared space, transcends the limitations of traditional two-dimensional digital platforms [6]. It provides a three-dimensional, immersive environment where users can interact with digital representations of themselves and others, offering a sense of presence and connection that was previously unattainable in the digital realm [7].…”

Section: Related Workmentioning

confidence: 99%

Multi-person interaction in collaborative virtual conference for Metaverse

Li,

Ismail

2024

IJEECS

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Virtual conferences have successfully solved the challenges of traditional face-to-face conferences that can’t be carried out smoothly due to issues such as venue, transportation, and the pandemic. More importantly, as virtual conferences continue to develop and mature, they provide a virtual environment for multi-person collaboration, which is impossible to achieve with traditional face-to-face conferences. This technological innovation is expected to bring significant cost savings to various fields such as medical care, education, and industry. This paper proposes a unity-based multi-party collaborative virtual conference model. The model takes automobiles as the theme, which can realize the design and modification of the appearance of the automobiles by multiple people in the same space, and also supports operations such as the disassembly and installation of the automobile engine. This model is designed to deepen our understanding of multi-person collaboration capabilities in virtual conferences, a feature that is expected to significantly improve teamwork efficiency.

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“…The persistence of the Metaverse allows users to create and interact with digital objects and environments that endure over time (Carey et al, 2022). Virtual reality (VR), augmented reality (AR), mixed reality (MR), and the internet are all coming together as the Metaverse evolves, creating seamless, immersive experiences (Zainab et al, 2022). Various platforms and ecosystems must be interoperable for the Metaverse to develop and be widely used.…”

Section: Literature Review 21 Evolution Of Metaversementioning

confidence: 99%

“…The Metaverse's evolving virtual worlds are powered by user-generated content, stimulating creativity and innovation (Yuan et al, 2022). Communities that promote and facilitate UGC typically have higher levels of user engagement (Zainab et al, 2022).…”

Section: User-generated Content In the Metaversementioning

confidence: 99%

The Impact of User-Generated Content, Social Interactions and virtual Economies on Metaverse Environments

Hussain,

Khan,

Ali

2023

JSE

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This study examines how user-generated content, social interactions, and virtual economies impact the Metaverse's changing environment. It offers crucial knowledge for policymakers, stakeholders, and developers of the Metaverse in building interesting and long-lasting virtual worlds. The study surveyed 385 respondents from the South Asian demographic using a Likert rating scale through an online survey. Demographic variables were analyzed using SPSS version 29, focusing on frequency and percentage distribution. Means and standard deviations were calculated for each variable and survey item. The main analysis included multiple regression to evaluate hypotheses regarding the interaction between user-generated content, social interaction, and the virtual economy. User-generated content significantly improves Metaverse environments (= 0.22, p<0.01**), highlighting its crucial part in creating immersive virtual spaces. Metaverse environments bene t from social interactions (=0.16, p<0.01**), fostering involvement and community. In the growth of the Metaverse, virtual economies are extremely important (=0.501, p<0.001***), encouraging user participation and innovation. This research, which uses rigorous statistical analysis and focuses on South Asian demographics, offers novel insights into the metaverse dynamics. It serves as a crucial resource for the Metaverse's future growth and development by guiding developers, stakeholders, and policymakers as they navigate the Metaverse's seemingly limitless potential.

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Virtual Dimension—A Primer to Metaverse

Cited by 15 publications

References 12 publications

Valuation, Accounting Principles, and Classification of Assets in the Metaverse

Valuation, Accounting Principles, and Classification of Assets in the Metaverse

Multi-person interaction in collaborative virtual conference for Metaverse

The Impact of User-Generated Content, Social Interactions and virtual Economies on Metaverse Environments

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