Sustainability of the Metaverse

Version	Summary	Created by	Modification	Content Size	Created at	Operation
1		Pietro De Giovanni	--	4963	2023-12-12 02:50:51

This entry is adapted from the peer-reviewed paper 10.3390/su15076079

The sustainability of the metaverse is driven by the recent advancement of Industry 5.0 technology, which places the human at the center of processes, leveraging human creativity and ingenuity alongside advanced technologies along with respecting human rights and individual dignity as well as promoting equitable and inclusive workplaces.

metaverse responsible digitalization ESGs Industry 5.0

1. Introduction

In 1992, Neal Stephenson—the science fiction author of the novel Snow Crash—coined the term “metaverse” for the first time, defining it as “A massive virtual environment parallel to the physical world, in which users interact through digital avatars” ^[1]. The word metaverse is a semantic calculus derived from the English word “universe” in a perfect conjunction between past and present: in fact, it combines the prefix in ancient Greek “μετα-” (“through”) with the suffix “-verse.” Etymologically, the metaverse is associated with something beyond the universe. In this sense, the metaverse can be defined as a three-dimensional space within which physical people and objects can move, share, and interact ^[2]. In fact, the metaverse combines physical reality with digital virtuality, allowing for the development of interactions and connections between users through platforms where social relationships develop ^[3]. In an increasingly hyper-connected world, where people can do everything with a simple device, the metaverse can be seen as the final frontier of other technologies, such as the Internet and e-commerce ^[4].

Although metaverse technology is still in the early stages of development, it promises to be a set of interconnected virtual and real worlds whose inhabitants will be able to carry out many habitual activities without having to physically move ^[5]. In this regard, many companies have taken an approach toward this new reality, seeing opportunities for business growth. In fact, the metaverse is a virtual world in which each person corresponds to a digital avatar, with opportunities to interact, manage, direct, and monitor certain spaces ^[6]. In principle, the metaverse can allow firms to elevate the potential of business units, affording the opportunity to buy and sell products, monitor processes, obtain information, adjust the forecast, and provide services, to mention a few. Therefore, it becomes a digital facsimile of what firms do and how they live in the real world, whose potential seems unlimited ^[5]^[6].

Among the various business aspects that characterize the metaverse, firms and institutions must be ready to address an important question: Is the metaverse a responsible form of technology? This question becomes definitely more urgent due to the advent of Industry 5.0, which represents a fundamental shift in the way industries operate. By incorporating the latest advancements in technology, Industry 5.0 promises to create a more efficient, sustainable, and socially responsible business model. Within this new framework, it is not just the technology that makes Industry 5.0 so important; rather, the human element is also crucial, as it seeks to empower workers and create a more meaningful and fulfilling work experience. By creating a more sustainable and socially responsible businesses, Industry 5.0 can help us move towards a more equitable and just society. As such, studying Industry 5.0 is essential for anyone who is interested in a responsible future and the role that technology can play in creating a better world. By understanding the principles and practices of Industry 5.0, businesses, policymakers, and academics can work together to create a more sustainable and equitable future for all. Under this perspective, the metaverse represents well-fitting technologies with the Industry 5.0 paradigm since humans will heavily interact in the virtual world, which then requires a sustainable and responsible implementation.

The literature on digital transformation has comprehensively documented how the adoption of some digital technologies has detrimental effects on many aspects of sustainability. For example, robotics application technologies help manufacturing systems handle repetitive jobs, and continuous systems achieve economies of scale, and efficiency ^[7]. All robotics equipment includes sensors, intelligence to make autonomous decisions, and collaborative operations with humans (cobots) for improved productivity, quality, and lead times ^[8]. However, robotics can be seen as a threat ^[9], leading to changing working conditions and wages, the risk of job loss, and the need for training programs ^[10]. Similarly, the use of big data can ensure the optimization of operations in terms of low scrap rate, high saturation of manufacturing equipment, low waste, and superior energy efficiency ^[11]. However, production systems using big data can become highly capital-intensive ^[12], which may result in overall higher energy consumption ^[13]. The empirical evidence demonstrates that the use of big data requires data centers to consume around 200 terawatt hours annually, which is more than the energy consumption of some countries (e.g., Argentina, Ukraine, and Thailand), half of the electricity used for transport worldwide, and around 1% of global electricity demand ^[14]. Currently, data centers contribute approximately 0.3% to overall carbon emissions, while the ICT sector accounts for more than 2% of global emissions ^[15]. Finally, the adoption of I4.0 technologies aims to increase productivity throughout the supply chain (SC) ^[12]. Nevertheless, the presence of outdated production and logistics systems can result in increased emissions and pollution, with a strong detrimental effect on the environment. Accordingly, digital transformation through I4.0 technologies may require a disruptive change in SCs, including green investments in terms of products, processes, and SC networks ^[16], which negatively influence the efficiency of processes and flows.

Similarly, the metaverse may have important implications in terms of economic, environmental, and social sustainability, and it may also entail numerous trade-offs. For example, accessing the metaverse leads people to reduce their mobility over the eco-system, implying a reduction of CO₂ emissions linked to decreased transportation. However, this might create some social issues due to the reduction of physical relationships and social interactions ^[17]. Considering that the metaverse will consist of a disruptive technology wave, the identification of tools for responsible digitalization will guarantee proper implementation and adoption, as well as fruitful management. Therefore, it is important to engineer the metaverse with an Industry 5.0 perspective, which seeks people to play an active role in the technologies respecting human rights, working conditions, social integration, and dignity along with the respect of the environment and future generations to come.

2. The Economic Sustainability of the Metaverse

From an economic value point of view, the metaverse offers incredible opportunities to develop prosperity and economic growth. First of all, the metaverse consists of an atypical channel through which to sell physical goods, creating alternatives and options for customers ^[2]. Furthermore, it allows companies developing the digital market and sales of digital goods to create new purchasing experiences and inspire original purchasing motivations ^[6]. In fact, the metaverse grants selling options through non-fungible tokens (NFTs). For example, in the fashion industry, the metaverse acts as a new avenue for selling goods, such as digital clothes and accessories, which avatars can model, or homeware can embellish in the digital space ^[18]. The economic sustainability of the metaverse is then guaranteed by the development of completely new markets, inside which firms have opportunities to develop and sell a wide range of digital goods while organizing both virtual and traditional channels ^[19]. Interestingly, while digital channels and, in general, e-commerce entails inevitable frictions and generate cannibalization effects, the virtual market creates new needs without generating cannibalization issues ^[20]. In this way, brands will be able to further expand their product line, given their ability to build spaces and products that are unbounded by traditional physical limitations ^[2].

From the soft side, firms can leverage economic benefits available through the metaverse by offering a wider range of creative and active marketing and service strategies than in the past ^[19]. For example, current marketing tools include passive content marketing, i.e., infographics, photos, and videos. These have a low level of fit with the metaverse, in which marketing and service strategies influence firms’ positioning and offerings ^[6]. These opportunities link to the dominance of the Generation Z audience in business-to-business (BTB) transactions, who constantly demand immersive and engaging forms of marketing and unique services. The overall changes in the metaverse requires dramatically modifying firms’ selling approaches ^[21]. For instance, firms can set up online stores to sell digital products or propose immersive experiences through the use of virtual reality, which ensures user engagement and a subsequent increase in sales. These opportunities represent the key ingredients of the Industry 5.0 transition, which is characterized by a focus on human-centered technologies, increased collaboration between humans with technology and machines, and granted new chances for firms to innovate and enhance their business models. Specifically, the use of digital technologies, such as online stores and virtual reality experiences, can help firms to increase user engagement and ultimately drive sales. This highlights the potential for Industry 5.0 to enable businesses to create new value for customers and increase their competitiveness through the integration of advanced technologies with human skills and creativity. By extension, companies can consider developing their own branded NFTs for metaverse marketing, which could drive brand awareness and purchasing opportunities ^[20]. According to Statista.com, there is a significant interest in NFTs from brands, such as Adidas, Taco Bell, and Nike, and among customers ^[22]. Users’ ability to display and exchange, for example, works of art and real estate using blockchain-backed NFTs in the metaverse opens marketing opportunities for companies to develop their digital assets. Additionally, the opportunity to offer services, such as insurance, certain forms of health care, or consulting, induces new business options. For example, companies can sell digital products and services in the metaverse, such as virtual real estate, virtual goods, and virtual experiences, which can be produced and delivered at a lower cost compared to physical products, hence enabling the transition to Industry 5.0. Finally, the metaverse can reduce the pressure on production and retailing ^[19]. For example, retail companies can leverage augmented and virtual reality by enabling shoppers to virtually try on products before purchasing or tap into the metaverse as a testing ground to create prototypes of goods ^[23]. These ways of interacting with the customer activate the production systems only when goods are really needed, generating an enormous advantage in terms of material savings, production cycles, set-up cycles, and inventory, among other operational advantages ^[24]. The aim is to limit the production and subsequent waste, and this can be achieved by producing only the collections that are actually purchased within the metaverse.

Although the metaverse offers various economic benefits, there are a set of economic downsides that must also be considered ^[25]. The metaverse necessitates a large amount of data centers and storage, requiring enormous cloud-streamed data and a thousand-fold increase in computing power ^[26] and, consequently, increases in energy consumption and carbon emissions ^[27]. In fact, a fully digital world in virtual reality requires low latency to ensure minimal delays in the processing of computer data and the success of the entire business model. Therefore, the infrastructure of countries will make a significant contribution to properly implementing metaverse technology ^[28]. Furthermore, data centers must be located closer to users, resulting in a series of both environmental and economic costs. Companies will also be urged to create data centers that comply with data privacy and local legislation in less energy-efficient areas, resulting in larger company expenditures and making it difficult to successfully transition to full metaverse adoption ^[5].

Several brands are preparing to build and embrace the digital future, considering the metaverse an opportunity for business evolution, a brand expansion tool, and a new lever in the creation of competitive advantages ^[18]. Although this technology offers numerous advantages, such as allowing for greater efficiencies, saving time, and reducing waste and consumption, the current portfolio of consumers is very limited. Meta customers, who make the business model successful, should be taken care of since the metaverse will complement current customers’ purchasing habits rather than fully substituting it ^[2]. Especially for all non-Z Generation customers, the switch to the metaverse will simply be unfeasible. Companies, such as Nike with Nikeland or Balenciaga with virtual collections, support and promote virtual experiences through the use of digital twins and digital collections worn directly by avatars who live in the metaverse. The latter must provide their availability 24/7/365 since the metaverse never closes or expires ^[21]. Nikeland, for example, develops as a virtual laboratory that launches shoe prototypes: users can try on shoes in the virtual world before starting production in the real world ^[29]. However, customers can arrive inside the metaverse from all angles of the world, harming system capacity when selling physical goods. While traditional services, such as strategic consulting, medical visits, and insurance advice, can still be planned, customers do not experience in this culture the need to book a slot to purchase a physical good ^[30]. The avatars require more knowledge and skills than in traditional digital and physical channels since they face international customers, heterogeneous demands, as well as new and atypical requests ^[20].

There are several interfaces between the metaverse and the transaction cost theory. The metaverse allows firms to eliminate some intermediaries in the transactions since the supply chains become shorter and more dynamic ^[31]. In fact, the platforms for managing the transactions support market decentralization since the virtual spaces can be activated everywhere, and the avatars can act at any time ^[23]. Therefore, several supply chain tiers dissolve, making the transactions less expensive and marginalization less frequent. Furthermore, the value chains handle a reduced number of complaints and reconciliation procedures since the buyers have access to full information regarding objects to buy while enjoying reliability, and traceability, as well as no risk for fakes, corruption, and manipulation ^[32]. The use of digital currencies ensures the efficient management of transactions, especially through NFTs. They are “digital certificates” based on blockchain technology aimed at identifying the ownership of a digital product in a unique, irreplaceable, and non-replicable way by exploiting hardware, software, inbound, outbound, and human oracles ^[33]. These digital collectibles represent one of the business keys of the future of the metaverse. The results increase consumers’ trust and fidelity, which translates into a higher willingness to purchase and induces word-of-mouth effects in virtual and social networks. New forms of customer relationship management corroborate these business opportunities ^[30]. Considering the strict relationships between sellers and buyers inside the virtual environment, the metaverse allows companies to engage consumers better by providing more accurate information and details ^[21], as well as ensuring that goods are sold using the correct selling approach ^[20].

3. The Environmental Sustainability of the Metaverse

Similarly, metaverse technology can entail numerous environmental tradeoffs that firms, institutions, governments, policy makers, people, and stakeholders, in general, should consider when sponsoring its implementation ^[27].

As with other digital technologies, the metaverse requires an enormous amount of computing power, potentially rising to 1000 times the current computing power used ^[31]. Data centers worldwide are continuously operating to provide all of the energy needed, although they already consume a significant amount of the total energy of the planet ^[34], which will definitely increase when the metaverse goes public. The energy required will also be used for the transactions finalized through blockchain, as well as the continuous usage of AI technologies, VR, augmented reality, and cloud services ^[12]. These statements have already been empirically confirmed in many instances. For example, one single bitcoin transaction consumes around 60% more energy than 100,000 credit card transactions ^[35]. Again, one analysis in Statista.com found that a single NFT transaction produces, on average, 48 kg of CO2, the equivalent of burning 18 L of diesel ^[36]. According to the Ethereum Energy Consumption Index: “a single NFT transaction on the Ethereum platform emits nearly 150 kg of CO₂, equivalent to 331.056 Visa transactions or 2.895 h of watching YouTube”. In other words, every NFT purchase in the metaverse becomes an environmental problem. Therefore, the metaverse economy will be sustainable in the near future when activities in the metaverse can be carbon-free or neutral. For instance, Google aims to run data centers with completely carbon-free energy by 2030 and Microsoft by 2025 ^[37]. Currently located in Iowa, Facebook’s data centers—although not very large—own a 6.966 million megawatt hours energy consumption facility in 2020 ^[38]. One should not forget the learning capacity of AI inside the metaverse. Learning algorithms through AI models can emit up to 626,000 pounds of CO₂, which is five times more than an American car’s lifetime emissions ^[39]. The persistent virtual worlds and experiences promised by the metaverse will require an “overabundance of data in the cloud” ^[40].

On the positive side, the metaverse can considerably contribute to a more sustainable future by saving energy and reducing the waste resulting from producing, developing, and prototyping products ^[27]. Another positive aspect is that digital products and virtual experiences in the metaverse are significantly less resource intensive and more carbon efficient than similar real-world products ^[23]. For example, if consumers chose to buy more denim for their avatars rather than their physical bodies, the resource savings could be substantial, including all phases of procurement, production, and distribution ^[41]. In fact, lots of consumers already intend to buy fewer physical items in the future because they intend to do more things digitally. Continuing this trend, reducing the physical denim trade by 10% would reduce CO₂ emissions by the equivalent of the annual emissions of about 350,000 US internal combustion cars ^[42]. Moving on, leisure and business travel, both by air and on land, could also be significantly replaced by the metaverse. According to the Environmental Protection Agency (EPA), air travel accounted for 2.5% of global emissions before the start of the pandemic, after which the sector’s emissions were halved ^[43]. The implementation of the metaverse in the events sector would save organizers an enormous amount of money that is spent on concerts. Last year, the hugely popular video game Fortnite attracted 12.3 million people to attend a performance by rapper Travis Scott ^[44]. However, the metaverse requires new and more hardware for users. This will, in turn, worsen e-waste issues, considering that less than one-fifth (17.4%) of global e-waste is documented to be properly collected and recycled ^[45].

The metaverse, a highly innovative platform, promises a substantial reduction in carbon emissions by replacing physical goods with digital ones and replacing real-world presence with virtual interactions ^[18]. In principle, when elements of our physical world and lives are transferred to the digital world, the generation of emissions increases ^[35]. However, the current data centers’ objectives are striving to achieve ‘net-zero’ emissions ^[46]. Ideally, data centers remove as much carbon as they are emitting, with the objective of becoming carbon negative. Brad Smith, the President and Vice Chair of Microsoft, explained that the data center could become carbon negative, which would include but not be limited to using technologies, such as negative emission technologies (NET), afforestation, and reforestation ^[47].

In terms of congestion and traffic in cities and highways, the metaverse can make considerable contributions to the environment ^[23]. A positive correlation exists between the implementation of the metaverse and the reduction of air pollution due to diminishing transfers, generating lower vehicle emissions. Adopting a wider perspective, future research and technological developments should define a digital twin of the planet to develop solutions aimed at addressing climate change in the long run ^[48]. This should be a sort of “planet laboratory” to allow scientists to predict and simulate different scenarios and study possible environmental consequences. For example, it may be possible to develop a digital twin of a certain city using AI and satellite imagery to simulate scenarios and find urban solutions to issues, such as pollution, traffic congestion, etc. ^[49] The metaverse could also help to develop such an approach, either at the micro level (e.g., for houses and people’s lives) or at the macro level (e.g., analysis of climate changes). A practical example of emissions abatement when using virtual spaces can be found in ^[50]: A three-day national public conference with 1474 attendees held online produces 55 times fewer carbon emissions than a conference held at physical locations. Therefore, the metaverse could offer an advantage in terms of the reduction of CO₂ for conferences (where there are usually many attendees who come from around the world). Moreover, the chance to integrate a digital twin into the metaverse allows for the optimization of the physical world by monitoring a specific process (replicated online) within the virtual word. In fact, another advantage of the metaverse is that it can contribute to reductions in the real estate footprint ^[51]: digital twins of factories, products, or processes reduce a building’s carbon emission by 50%. Thus, customers can choose to rely on a sustainable product (online product) rather than going to the store, which contributes to reductions in the real estate footprint and, indeed, lower emissions. However, by far, the biggest sustainability opportunity of the metaverse can be found in cities, which now make up 70% of emissions ^[52]. Digital twins of cities and buildings can provide insights to city managers to build more efficient and sustainable cities. Lots of research demonstrates possibilities of reducing a building’s carbon emissions by 50%, improving operational and maintenance efficiency by 35%, increasing human productivity by 20%, and improving space utilization by 15% ^[48].

An important source of environmental impact comes from the terminals since the VR helmet entails production systems that are high polluters. Production requires special and rare raw materials, which will negatively contribute to the current raw material shortage the world is experiencing ^[53]. This issue will influence production in other sectors, e.g., the solar panel industry, which can instead be a booster for the metaverse to be sustainable. Furthermore, the production of those terminals, as with all high-tech devices, will be primarily based in Asia (China, Vietnam, and Thailand), generating important global warming repercussions due to long-distance transports ^[54]. All of these insights also apply to AR wristbands, AR glasses, VR headsets, cyber shoes, and tactile gloves. According to data from the United Nations Global E-waste Monitor 2020, 53.6 million metric tons of e-waste was generated worldwide in 2019, and waste is expected to exceed 74 million metric tons by 2030 ^[45]. The amount of waste in other sectors may decrease substantially. For example, in the fashion industry, considering that people will meet more in virtual spaces than in physical spaces, the demand for clothes will move from physical clothes to virtual clothes. This implies a reduction of natural resources used in the fashion industry, as well as a change in companies’ business focus ^[18]. At the same time, people can more accurately select the physical clothes they wish to purchase in the metaverse, leading to on-demand production, which in turn leads to a further reduction in energy consumption, natural resources, and waste ^[55]. This new paradigm can apply to many industries in which goods are designed and created through prototypes, with less waste and lower resource use.

4. The Social Sustainability of the Metaverse

Without hesitation, it is fair to say that society outside the metaverse has many differences since it is based on real interactions rather than on virtual interactions. Moreover, social issues—such as social exclusion, the gap between the rich and the poor, discrimination, etc.—will only be amplified through the metaverse ^[56]. However, considering the disruptive effect of this technology and the role it will play in the future, our real lives and our virtual lives should be balanced to guarantee the social sustainability of the metaverse ^[52]. In fact, creating an idealistic version of reality can have adverse effects on people’s lives. For the moment, there is no answer to the question surrounding the alignment between the digital world and the real world. Surely, companies, universities, associations, NGOs, and all possible stakeholders can work together to create an inclusive virtual society with a focus on issues, such as accessibility, diversity, inclusion, and equity ^[4]. In fact, the metaverse carries out the risks of amplifying some social effects, which must be carefully analyzed before diving into its implementation ^[57]. Furthermore, the social interactions inside the metaverse are a proxy of the interfaces between digital technologies and humans, which characterize the development of Industry 5.0. Hence, investigating the social dimension of the metaverse sheds light on the transition to Industry 5.0.

On a positive note, the metaverse can open up education to people worldwide, especially in developing countries and remote regions ^[58]. Therefore, the metaverse can ensure that a high level of education is delivered in virtual spaces using avatars. A level of collaboration among companies, universities, schools, NGOs, and governments can guarantee social inclusion and equity ^[4]. For example, regardless of income or geographic location, the opening of a meta university would offer engaging experiences and collaboration among students around the world, breaking down barriers to international mobility opportunities ^[53].

Indeed, these goals require a strong physical infrastructure to support an accessible, inclusive, and fair metaverse ^[28]. Currently, to enter the metaverse, one must have essential conditions, such as an account, a PC or an Internet connection, as well as adherence to the policies and regulations imposed by each platform ^[59]. For example, to enter the metaverse, in addition to having a Facebook account, one needs the Oculus Quest 2 VR visor, which costs about $400. These are the minimum conditions for using the metaverse, which naturally imposes social differences among social classes due to important economic distinctions. One clear example is provided by the fashion industry, where the metaverse offers the chance for people to virtually try on fashion items before physically purchasing them ^[18]. This happened through the use of technologies complementing the metaverse, such as the one designed by Samsung and called “e-skin”, which is a digital skin through which the wearers can feel the objects touched in the virtual reality world. This technology simulates the ability of human skin to react to the environment, from pain to sudden changes in temperature and pressure. However, such types of technologies are not universally accessible to everyone throughout the world, amplifying social discrimination and disparity.

Furthermore, one must recall the social effects of digitalization that lead people to isolation. This is true, especially for vulnerable people, who attempt to live in a virtual world, hence isolating themselves from the real world and everyday life ^[60]. These people can become addicted to the digital life inside the metaverse, which requires a high level of engagement. People are used to spending a lot of time in immersive metaverse experiences, sharing personal data and details that might result in data privacy issues ^[53]. This highlights the natural propensity of metaverse to make the transition to Industry 5.0 real and possible. Furthermore, people can shape avatars as they wish and adopt completely different behaviors behind VR visors. Accordingly, the metaverse requires regulation to prevent it from shifting from a great social opportunity to a fatal social threat. On the other side of the coin, it must be noted that the metaverse improves social self-efficacy by generating people’s support in their feelings of loneliness. Hence, it surely reduces discrimination in terms of race, gender, and physical disability ^[60].

Considering the implications of the metaverse in terms of ethics, security, and inclusion, attention must be accorded to its possible social repercussions. For many scientists, the metaverse is considered a way to reinvent healthcare treatments ^[61]. Many experts are becoming more concerned about the growing effects that technologies and social media have on mental health. The fear of witnessing, in conjunction with the development of the metaverse, increases depression, psychoticism, and paranoid addiction—especially in the younger generations—is being seriously studied by regulators ^[25]. In fact, immersion in the digital world can trigger health problems in users, in particular, their ability to discern between the real world and the virtual world. The vision of the metaverse as an ‘escape’ from reality would imply a sense of momentary well-being in which one has the illusion of being in a place considered “perfect.” The metaverse’s enabling elements are at least one technological generation away from the necessary maturity required to implement this new technological paradigm on a massive scale ^[23]. Therefore, there is an implicit risk of excluding those who do not have appropriate skills or socioeconomic factors supporting the use of these technologies, such as developing countries ^[57].

According to the current development of the metaverse, social sustainability requires regulations and protocols to ensure that security, data processing, and social issues are adequately addressed, as well as the ethical and psychological implications the metaverse may have on people ^[25]. This warning becomes definitely important nowadays due to the transition to Industry 5.0, which imposes a comprehensive reflection on both the benefits and the drawbacks linked to the implementation of immersive technologies, such as the metaverse. Moreover, the metaverse raises concerns about privacy issues and the fear of being hacked and having one’s identity stolen. The metaverse is a brand-new technology, so some people are uncertain about its safety and its ability to protect consumer data. Accordingly, people are requested to learn about the use of blockchain to guarantee data protection and privacy ^[31].

The metaverse can and will accommodate a whole series of activities that involve smart working or conferences, drastically reducing physical distance issues and bringing people closer together on a virtual level ^[50]. The social sustainability of this new ecosystem may be realized, for instance, with the implementation of Horizon Home, a platform developed by Meta that aims to promote socialization by recreating a potentially unlimited meeting place able to geographically connect distant individuals. As a consequence, the metaverse will require people to acquire new competencies and jobs, increasing demand for graphic designers, programmers, virtual fashion designers, etc. ^[62]. However, based upon the huge investments required to implement the metaverse, it is likely that only large companies will be able to launch such projects, potentially threatening SME businesses and possibly leading to workplace closures.

Finally, it is important to note that the metaverse opens up doors to people from many countries and regions. Therefore, the proper management of new people virtually accessing a country and the identified companies will generate a positive impact on the general welfare of that country and the related society ^[60]. This can lead to side effects, such as population growth attributable to future immigration flows into that country, cultural and social expansion, new and more proactive government legislation, larger GDPs, and new know how and innovative practices. On the other hand, individuals with bad intentions can use the metaverse for activities linked to criminality, violence, prostitution, and the export of capital outside the country, along with the risk of attracting terrorists into a territory and the reinforcement of criminal organizations’ activities, as well as adaptability issues linked to religious, cultural, and educational differences.

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