The transition from a physical economy to a digital economy is happening across the globe, and since the worldwide pandemic, this process has accelerated substantially. People are spending more time online than offline, which means that work and daily life are becoming more and more dependent on the internet. Today's internet is frequently the primary means through which millions of people access information and services, engage in social interaction and commerce, and find entertainment. COVID-19 has also altered corporate practices, accelerated the growth of e-commerce, and altered workplace culture. As more people work remotely, businesses are beginning to prioritize virtual environments. The pandemic has so demonstrated that technology is essential to maintaining many jobs in operation. Since COVID-19 is becoming more and more widespread, the demand for virtual reality is rising, and the Metaverse sector is expanding. Blockchain technology, artificial intelligence, and the virtual environment known as the Metaverse are all merged here.
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The links between the financial, virtual, and physical worlds have grown more and more interconnected thanks to the metaverse, a potential future version of the internet that supports decentralized, long-lasting online 3-D virtualized environments (Parthiban et al., 2021). It is a network of constantly active virtual environments where numerous users can communicate with one another and the virtual objects while controlling virtual versions of themselves (Pandey et al., 2021). Virtual reality headsets, augmented reality glasses, smartphones, PCs, and game consoles will all be able to access this virtualized area. A combination of immersive virtual reality, a massively multiplayer online role-playing game (MMORPG), and the internet would serve as an illustration of this. People who use vices to manage their life have easy access to practically everything they require at the touch of a single button. Many people in the technology sector believe that the science fiction concept known as the metaverse will succeed the present Internet (Lelisho et al., 2023). It features application cases that are very clearly defined in the video gaming, education, business, retail, and real estate sectors. The main barrier to the metaverse's widespread acceptance is from the lack of current gadgets and sensors that are needed to interact with real-time virtual environments. Numerous businesses will invest in the research of technology related to the metaverse, making it more economical and accessible (Iyyanar et al., 2021). Concerns about information privacy and user addiction in the metaverse result from the difficulties that social media and the video game industry are currently experiencing.
In the case of the modern Internet, these requirements and opportunities for new technology, service providers, goods, content creators, rules and laws, standards and protocols, and more necessitate the development of an interested parties' community. As a result, many of the industry titans of today will probably play a significant part. Although the metaverse does not yet exist in its entirety, some platforms have components that resemble it. The closest metaverse experience now on offer can be found in video games. The game's boundaries were also pushed by the developers through the staging of gaming competitions and the development of virtual economies (Saxena et al., 2021). Cryptocurrencies may be a fantastic fit for a metaverse, though it is not necessary. They make it possible to create a digital economy using several kinds of utility tokens and virtual collectibles (NFTs). Additionally, it would profit from the use of crypto wallets. as a Trust Wallet or Meta Mask, for instance. Block chain technology can also offer trustworthy and transparent administration solutions. Block chain and other metaverse-like apps currently exist and give people comfortable livings. Large technology companies are seeking to chart the route for the near future. However, the decentralized nature of the blockchain industry is enabling smaller operators to participate in the growth of the metaverse as well (Pandey et al., 2021). This also applied to the crypto ecosystem. NFTs, blockchain games, and crypto currency payments are no longer only for crypto nerds. They are all currently accessible as a result of the evolving metaverse. Currently only a concept, technology companies are working to make it a setting for a variety of online activities, such as work, play, studying, and shopping. This study's goal is to add to our understanding of the subject and its difficulties or to provide new knowledge. Most of the data used in this study are secondary. Information for this study was only gathered from secondary sources found in various publications. A wide variety of published sources, including books, magazines, journals, reports, publications, and websites for numerous online journals, as well as Google Scholar, can be used to acquire information. Articles for this study came from online newspapers, online articles, online blogs, as well as sources specific to the industry. In order to find relevant source articles, use. We incorporated the terms “metaverse,” “metaverse technologies,” “metaverse media,” “metaverse marketing,” “media and education,” “augmented reality and education,” “virtual reality and student learning,” “mixed reality and education,” and “metaverse AR,” “metaverse VR” into our keyword list. Every paragraph also includes the phrase “metaverse society”.