E-Commerce on Metaverse as the New Virtual Universe

Abstract

Many innovations and advancements have become inevitable with the development of technology. Metaverse is a virtual universe emerged as a result of these technological developments. The fact that many global companies are a part of and contributing to the Metaverse has made this environment more prominent. There are technologic developments made the emergence of the Metaverse possible. Artificial intelligence, internet of things, extended reality, virtual reality, augmented reality can be considered among these developments. The internet has become a part of people’s lives. The reason why the internet holds such a great place in people’s lives is that their buying behaviours, many daily activities such as communicating and socializing are defined by the internet and only keeps getting greater in this day and age. In other words, Metaverse is the virtual twin of the physical universe. The fact that e-commerce is on the rise for the past few years and improves user experience by offering new alternatives as it utilizes technological advancement is what makes it preferable for people. This paper focuses on technologies that constitutes Metaverse such as Web 3.0, Virtual Reality and Augmented Reality and their correlation. E-commerce is examined on the basis of these concepts. The aim of this study is to clarify the technological developments that are globally prominent as of late and to evaluate the relation between these technologies and the notion of e-commerce.