Location
Hilton Hawaiian Village, Honolulu, Hawaii
Event Website
https://hicss.hawaii.edu/
Start Date
3-1-2024 12:00 AM
End Date
6-1-2024 12:00 AM
Description
Fueled by recent technological developments and reinvigorated through the hype around the Metaverse concept, virtual worlds are becoming increasingly popular as platforms for social interaction, entertainment, and commerce. This study applies transaction cost theory to explore smart contracts' potential in virtual worlds, specifically Decentraland, Sandbox, and Roblox. By assessing process costs, we gauge the feasibility and usability of these decentralized worlds in line with the Metaverse vision. Our findings indicate that the concept and implementation of smart contracts are still nascent and require enhancements from technical, organizational, and user standpoints. Our study contributes to a better understanding of smart contracts' current value in virtual worlds and points to future research directions for optimizing their use.
Recommended Citation
Müller, Wieland; Richter, Shahper; Leyer, Michael; and Richter, Alexander, "Metaverse, ubi es? A transaction cost-based analysis of the state of the art of smart contracts in the Metaverse" (2024). Hawaii International Conference on System Sciences 2024 (HICSS-57). 2.
https://aisel.aisnet.org/hicss-57/in/metaverse/2
Metaverse, ubi es? A transaction cost-based analysis of the state of the art of smart contracts in the Metaverse
Hilton Hawaiian Village, Honolulu, Hawaii
Fueled by recent technological developments and reinvigorated through the hype around the Metaverse concept, virtual worlds are becoming increasingly popular as platforms for social interaction, entertainment, and commerce. This study applies transaction cost theory to explore smart contracts' potential in virtual worlds, specifically Decentraland, Sandbox, and Roblox. By assessing process costs, we gauge the feasibility and usability of these decentralized worlds in line with the Metaverse vision. Our findings indicate that the concept and implementation of smart contracts are still nascent and require enhancements from technical, organizational, and user standpoints. Our study contributes to a better understanding of smart contracts' current value in virtual worlds and points to future research directions for optimizing their use.
https://aisel.aisnet.org/hicss-57/in/metaverse/2