Creating an immersive environment of Metaverse for businesses

Abstract

Metaverse is an immersive environment that shares online space with users to interact with an artificial world through avatars or other digital representations. By leveraging the immersive features of Metaverse, businesses can create new opportunities for revenue generation, customer engagement, collaboration, innovative products, services, or innovation. The development and governing of user interfaces and virtual environments are challenging. Since the metaverse concept is emerging, numerous questions remain about designing, executing, and benefiting from it in the business environment. This study identifies enablers that can support creating an immersive Metaverse environment for businesses to gain new business opportunities. The study deploys multi-criteria decision-making techniques, "Total Interpretive Structural Modelling," and "Cross-Impact Matrix Multiplication Applied to Classification" to establish cross-relationships among enablers. The study also provides a hierarchical roadmap for creating an immersive metaverse environment. Recognizing which enablers hold the most influence in a hierarchy can lead to the strategic development of an immersive environment. This study will help researchers, policymakers, technology consultants, and business practitioners explore Metaverse's most impacting enablers to gain competitive advantages and future opportunities for the business.

Keywords

• metaverse
• virtual reality
• immersive experience
• businesses opportunities
• TISM-MICMAC