From a traditional university to the development of the metaverse: network and target effects

Abstract

Digital and information technologies are driving changes in traditional business models. Depending on the level of immersion in the digital environment, they are transformed into other formats: from offline business with a "digital shadow" to the creation of platforms and metaverse based on them. The study deals with the economic and target effects arising from the transition of a traditional university to the network business model of an educational metaverse. The concept of network economy and the theory of business models served as a methodological basis; general scientific research methods were used in the paper. Substantive changes in the business model of the university are clarified, the key differences of the educational metaverse are highlighted. The economic efficiency of the metaverse is achieved through the realization of network benefits, which, in turn, transforms the opportunities for achieving its mission as target efficiency.

Keywords

• metaverse
• university
• educational metaverse
• virtual world
• business mode
• digital transformation
• network effects
• mission