Driving Factors of Entrepreneurs to Do Business in the Metaverse: A Conceptual Research

Abstract

The Metaverse gains more and more attention each day. The development of the Metaverse requires entrepreneurs to grow their business capabilities and the willingness to do business in the Metaverse. However, the Metaverse remains a mystery for many due to its contemporary nature. Thus far, those developing businesses in the Metaverse are limited to the early adopters. In that regard, this research aims to contribute to the literature on the Metaverse by investigating factors that drive entrepreneurs to do business in the Metaverse. The current state of the literature provides very limited empirical insight regarding the Metaverse. This research utilizes an extensive literature review method, particularly in entrepreneurship literature in a virtual world setting (e.g., Second Life), to obtain relevant insight on the subject matter. The literature regarding the previous trend of the virtual world can act as a proxy to gauge the Metaverse due to their similar characteristics. Furthermore, this conceptual study is projected to produce a new proposed model that comprises factors that drive the entrepreneurial intention to do business in the Metaverse.

Keywords: Artificial intelligence, business intention entrepreneurship, metaverse, virtual world