IDEAS home Printed from https://ideas.repec.org/a/spr/elmark/v33y2023i1d10.1007_s12525-023-00623-w.html
   My bibliography  Save this article

Metaverse platform ecosystems

Author

Listed:
  • Sofia Marlena Schöbel

    (University of Osnabrück, Osnabrück)

  • Jan Marco Leimeister

    (University of St. Gallen
    University of Kassel)

Abstract

Traditionally, the metaverse has been defined as a virtual reality space in which users can interact with a computer-generated environment and other users. Nowadays, it is much more than that—the metaverse can be described as a variety of digital platforms and ecosystems, with each ecosystem as an independent universe with its own material, complementors, and functionalities. Creating metaverse ecosystems and integrated platforms results in different roles and responsibilities for complementors, consumers, platform owners, and orchestrators. The term metaverse platforms is further structured and clarified by four perspectives: innovation, production, transaction, and social interaction. Consequently, this fundamental paper defines it as: “A Metaverse is a massively scaled and interoperable meta-ecosystem of other digital ecosystems of real-time rendered 3D virtual worlds which can be experienced synchronously and persistently by an unlimited number of complementors and consumers with an increased user experience caused by a creativity-guided co-creation of goods managed by orchestrators and supported by platform owners.” Consequently, the metaverse offers vast opportunities for digital innovations beyond traditional social media or computer games and creates new infrastructures for add-on innovations in all areas of the digital economy.

Suggested Citation

  • Sofia Marlena Schöbel & Jan Marco Leimeister, 2023. "Metaverse platform ecosystems," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-10, December.
  • Handle: RePEc:spr:elmark:v:33:y:2023:i:1:d:10.1007_s12525-023-00623-w
    DOI: 10.1007/s12525-023-00623-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s12525-023-00623-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s12525-023-00623-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Rainer Alt, 2020. "Evolution and perspectives of electronic markets," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(1), pages 1-13, March.
    2. Choi, Hee-soo & Kim, Sang-heon, 2017. "A content service deployment plan for metaverse museum exhibitions—Centering on the combination of beacons and HMDs," International Journal of Information Management, Elsevier, vol. 37(1), pages 1519-1527.
    3. Dowling, Michael, 2022. "Fertile LAND: Pricing non-fungible tokens," Finance Research Letters, Elsevier, vol. 44(C).
    4. Christian Peukert & Christof Weinhardt & Oliver Hinz & Wil M. P. Aalst, 2022. "Metaverse: How to Approach Its Challenges from a BISE Perspective," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 64(4), pages 401-406, August.
    5. Urquhart, Andrew, 2016. "The inefficiency of Bitcoin," Economics Letters, Elsevier, vol. 148(C), pages 80-82.
    6. Ramazan Esmeli & Mohamed Bader-El-Den & Hassana Abdullahi, 2021. "Towards early purchase intention prediction in online session based retailing systems," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(3), pages 697-715, September.
    7. Tobias Kretschmer & Aija Leiponen & Melissa Schilling & Gurneeta Vasudeva, 2022. "Platform ecosystems as meta‐organizations: Implications for platform strategies," Strategic Management Journal, Wiley Blackwell, vol. 43(3), pages 405-424, March.
    8. Ruwan Bandara & Mario Fernando & Shahriar Akter, 2020. "Privacy concerns in E-commerce: A taxonomy and a future research agenda," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(3), pages 629-647, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chowdhury, Mohammad Ashraful Ferdous & Abdullah, Mohammad & Alam, Masud & Abedin, Mohammad Zoynul & Shi, Baofeng, 2023. "NFTs, DeFi, and other assets efficiency and volatility dynamics: An asymmetric multifractality analysis," International Review of Financial Analysis, Elsevier, vol. 87(C).
    2. Afees A. Salisu & Aviral Kumar Tiwari & Ibrahim D. Raheem, 2018. "Analysing the distribution properties of Bitcoin returns," Working Papers 058, Centre for Econometric and Allied Research, University of Ibadan.
    3. Christie Smith & Aaron Kumar, 2018. "Crypto‐Currencies – An Introduction To Not‐So‐Funny Moneys," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1531-1559, December.
    4. Baldwin, Carliss Y. & Bogers, Marcel L.A.M. & Kapoor, Rahul & West, Joel, 2024. "Focusing the ecosystem lens on innovation studies," Research Policy, Elsevier, vol. 53(3).
    5. Ata Assaf & Luis Alberiko Gil-Alana & Khaled Mokni, 2022. "True or spurious long memory in the cryptocurrency markets: evidence from a multivariate test and other Whittle estimation methods," Empirical Economics, Springer, vol. 63(3), pages 1543-1570, September.
    6. Kakinaka, Shinji & Umeno, Ken, 2021. "Exploring asymmetric multifractal cross-correlations of price–volatility and asymmetric volatility dynamics in cryptocurrency markets," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 581(C).
    7. White, Reilly & Marinakis, Yorgos & Islam, Nazrul & Walsh, Steven, 2020. "Is Bitcoin a currency, a technology-based product, or something else?," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    8. Parthajit Kayal & Purnima Rohilla, 2021. "Bitcoin in the economics and finance literature: a survey," SN Business & Economics, Springer, vol. 1(7), pages 1-21, July.
    9. Białkowski, Jędrzej, 2020. "Cryptocurrencies in institutional investors’ portfolios: Evidence from industry stop-loss rules," Economics Letters, Elsevier, vol. 191(C).
    10. Kanis Saengchote & Voraprapa Nakavachara & Yishuang Xu, 2023. "Capitalising the Network Externalities of New Land Supply in the Metaverse," Papers 2303.17180, arXiv.org.
    11. Paulo Ferreira & Éder J.A.L. Pereira & Hernane B.B. Pereira, 2020. "From Big Data to Econophysics and Its Use to Explain Complex Phenomena," JRFM, MDPI, vol. 13(7), pages 1-10, July.
    12. Aslanidis, Nektarios & Bariviera, Aurelio F. & Perez-Laborda, Alejandro, 2021. "Are cryptocurrencies becoming more interconnected?," Economics Letters, Elsevier, vol. 199(C).
    13. Greg W. Hunter & Craig Kerr, 2019. "Virtual Money Illusion and the Fundamental Value of Non-Fiat Anonymous Digital Payment Methods," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(2), pages 151-164, May.
    14. Tong, Zhongwen & Chen, Zhanbo & Zhu, Chen, 2022. "Nonlinear dynamics analysis of cryptocurrency price fluctuations based on Bitcoin," Finance Research Letters, Elsevier, vol. 47(PB).
    15. Zura Kakushadze & Willie Yu, 2019. "iCurrency?," Papers 1911.01272, arXiv.org, revised Nov 2019.
    16. Dunbar, Kwamie & Owusu-Amoako, Johnson, 2022. "Cryptocurrency returns under empirical asset pricing," International Review of Financial Analysis, Elsevier, vol. 82(C).
    17. Yencha, Christopher, 2023. "Spatial heterogeneity and non-fungible token sales: Evidence from Decentraland LAND sales," Finance Research Letters, Elsevier, vol. 58(PA).
    18. Ting-Hsuan Chen & Mu-Yen Chen & Guan-Ting Du, 2021. "The Determinants of Bitcoin’s Price: Utilization of GARCH and Machine Learning Approaches," Computational Economics, Springer;Society for Computational Economics, vol. 57(1), pages 267-280, January.
    19. Héloïse Berkowitz & Nils Brunsson & Michael Grothe-Hammer & Mikaela Sundberg & Bertrand Valiorgue, 2022. "Meta-Organizations: A Clarification and a Way Forward," Post-Print hal-03685386, HAL.
    20. Aggarwal, Divya, 2019. "Do bitcoins follow a random walk model?," Research in Economics, Elsevier, vol. 73(1), pages 15-22.

    More about this item

    Keywords

    Metaverse; Platform; Ecosystem;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:elmark:v:33:y:2023:i:1:d:10.1007_s12525-023-00623-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.