IDEAS home Printed from https://ideas.repec.org/p/zbw/itsb24/302464.html
   My bibliography  Save this paper

A Study on Metaverse Risks and Risk Perceptions

Author

Listed:
  • Shin, Sunkyung
  • Park, Joo-Yeun

Abstract

The development of Metaverse technology is transforming our lives by shifting our daily activities from the offline to the online world. Metaverse has begun to be recognized as a key industry and future technology by leading the onlineization of daily life that is impossible in reality due to the disaster situation of COVID-19. Metaverse, which is based on the meaning of the expansion and extension of the physical world to the virtual world, is opening a new chapter in human communication and is recognized as a space with new possibilities (Lee et al., 2021). However, the new opportunities and possibilities offered by Metaverse are accompanied by both the positive functions and effects that were expected and targeted in the development and introduction of early metaverse, as well as the unintended negative functions and effects (Dwivedi et al., 2023). In other words, from a future perspective, Metaverse is a revolutionary technology that will change our living environment, and it is quickly permeating our daily lives more than any other technology, but the side effects associated with it are also quickly expanding their influence into our lives. As the industrial importance of the Metaverse has increased, Metaverse technology has been applied to various fields, and new services and platforms based on the Metaverse have emerged, and the number of users has also increased rapidly (Barrera & Shah, 2023). As a result of this situation, the influence of the Metaverse has expanded beyond the industrial dimension to social influence such as individuals and society. In particular, the innovative characteristics of the Metaverse, which are different from existing technologies, have allowed users to experience new side effects that they have never experienced before, and have even expanded to the form of social conflict. These side effects of using the Metaverse are presented as a new challenge and task that must be overcome for the development and future of the Metaverse industry. In response to this situation, this study starts from a critical perspective on the fact that previous studies on Metaverse technology and services have focused too much on the technical aspects and have been discussed only from an optimistic point of view (Bogicevic et al., 2021; Book, 2004; Flavián et al., 2019). In particular, just as all digital media technologies and services have a double-edged sword, the Metaverse also has a double-edged sword, and behind its positive effects lie the risks of negative effects. In this study, we aim to identify and address the risks and threats inherent in Metaverse technologies and services, and to specify and categorize the risks that arise from the use of Metaverse technologies and services, in the context of extending digital risk research and initiating Metaverse risk research. In addition, this study aims to conduct an empirical study on the experiences and perceptions of users who actually use Metaverse technologies and services regarding the risks associated with the use of Metaverse technologies and services. Therefore, this study, considering the situation that instability exists due to the spread and use of the Metaverse, but sufficient discussion has not been made on this, intends to discuss the Metaverse risk from a comprehensive perspective for the stable use and spread of the Metaverse. Starting with this, we aim to establish a theoretical foundation that can continue to expand Metaverse research in the future.

Suggested Citation

  • Shin, Sunkyung & Park, Joo-Yeun, 2024. "A Study on Metaverse Risks and Risk Perceptions," 24th ITS Biennial Conference, Seoul 2024. New bottles for new wine: digital transformation demands new policies and strategies 302464, International Telecommunications Society (ITS).
    • Handle: RePEc:zbw:itsb24:302464
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/302464/1/ITS-Seoul-2024-paper-022.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Axel Berger & Tobias Schlager & David E. Sprott & Andreas Herrmann, 2018. "Gamified interactions: whether, when, and how games facilitate self–brand connections," Journal of the Academy of Marketing Science, Springer, vol. 46(4), pages 652-673, July.
    2. Flavián, Carlos & Ibáñez-Sánchez, Sergio & Orús, Carlos, 2019. "The impact of virtual, augmented and mixed reality technologies on the customer experience," Journal of Business Research, Elsevier, vol. 100(C), pages 547-560.
    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. Hollebeek, Linda D. & Clark, Moira K. & Andreassen, Tor W. & Sigurdsson, Valdimar & Smith, Dale, 2020. "Virtual reality through the customer journey: Framework and propositions," Journal of Retailing and Consumer Services, Elsevier, vol. 55(C).
    2. Myoung-Jin Chae, 2021. "Driving Consumer Engagement through Diverse Calls to Action in Corporate Social Responsibility Messages on Social Media," Sustainability, MDPI, vol. 13(7), pages 1-22, March.
    3. Syrjälä, Henna & Kauppinen-Räisänen, Hannele & Luomala, Harri T. & Joelsson, Tapani N. & Könnölä, Kaisa & Mäkilä, Tuomas, 2020. "Gamified package: Consumer insights into multidimensional brand engagement," Journal of Business Research, Elsevier, vol. 119(C), pages 423-434.
    4. Xi, Nannan & Hamari, Juho, 2021. "Shopping in virtual reality: A literature review and future agenda," Journal of Business Research, Elsevier, vol. 134(C), pages 37-58.
    5. Kostyk, Alena & Sheng, Jie, 2023. "VR in customer-centered marketing: Purpose-driven design," Business Horizons, Elsevier, vol. 66(2), pages 225-236.
    6. Schiopu, Andreea Fortuna & Hornoiu, Remus Ion & Padurean, Ana Mihaela & Nica, Ana-Maria, 2022. "Constrained and virtually traveling? Exploring the effect of travel constraints on intention to use virtual reality in tourism," Technology in Society, Elsevier, vol. 71(C).
    7. Luke Butcher & Billy Sung, 2024. "User experiences with 360 brand videos: device experiences, presence, and creativity driving brand engagement," Journal of Brand Management, Palgrave Macmillan, vol. 31(4), pages 401-414, July.
    8. Naim Zierau & Christian Hildebrand & Anouk Bergner & Francesc Busquet & Anuschka Schmitt & Jan Marco Leimeister, 2023. "Voice bots on the frontline: Voice-based interfaces enhance flow-like consumer experiences & boost service outcomes," Journal of the Academy of Marketing Science, Springer, vol. 51(4), pages 823-842, July.
    9. Nannan Xi & Juan Chen & Filipe Gama & Marc Riar & Juho Hamari, 2023. "The challenges of entering the metaverse: An experiment on the effect of extended reality on workload," Information Systems Frontiers, Springer, vol. 25(2), pages 659-680, April.
    10. Arghashi, Vahideh & Yuksel, Cenk Arsun, 2022. "Interactivity, Inspiration, and Perceived Usefulness! How retailers’ AR-apps improve consumer engagement through flow," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    11. Sergio Barta & Raquel Gurrea & Carlos Flavián, 2023. "Telepresence in live-stream shopping: An experimental study comparing Instagram and the metaverse," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-21, December.
    12. Maggie Scordel & Florence Jacob, 2023. "The interest of an innovative methology based on customized video scenario to study the mobile in store experience and the programatic advertising," Post-Print hal-04437009, HAL.
    13. Blasco-Arcas, Lorena & Lee, Hsin-Hsuan Meg & Kastanakis, Minas N. & Alcañiz, Mariano & Reyes-Menendez, Ana, 2022. "The role of consumer data in marketing: A research agenda," Journal of Business Research, Elsevier, vol. 146(C), pages 436-452.
    14. Koukopoulos, Anastasios & Vrechopoulos, Adam, 2020. "Integrated Marketing Communications: Pushing the Boundaries through Digital Technologies," MPRA Paper 120853, University Library of Munich, Germany.
    15. Maksim Godovykh & Carissa Baker & Alan Fyall, 2022. "VR in Tourism: A New Call for Virtual Tourism Experience amid and after the COVID-19 Pandemic," Tourism and Hospitality, MDPI, vol. 3(1), pages 1-11, February.
    16. Mohamed Daassi & Sana Debbabi, 2021. "Intention to reuse AR-based apps: The combined role of the sense of immersion, product presence and perceived realism," Post-Print hal-03372420, HAL.
    17. Gajendra Liyanaarachchi & Giampaolo Viglia & Fidan Kurtaliqi, 2023. "Privacy in hospitality: managing biometric and biographic data with immersive technology," Post-Print hal-04219606, HAL.
    18. Schultz, Carsten D. & Kumar, Harish, 2024. "ARvolution: Decoding consumer motivation and value dimensions in augmented reality," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    19. Evanschitzky, Heiner & Bartikowski, Boris & Baines, Tim & Blut, Markus & Brock, Christian & Kleinlercher, Kristina & Naik, Parikshit & Petit, Olivia & Rudolph, Thomas & Spence, Charles & Velasco, Carl, 2020. "Digital Disruption in Retailing and Beyond," SMR - Journal of Service Management Research, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 4(4), pages 187-204.
    20. Juncheng Dai & Fangyu Liu, 2024. "Embracing the digital landscape: enriching the concept of sense of place in the digital age," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-7, December.

    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:zbw:itsb24:302464. 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: http://www.itsworld.org/ .

    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.