Metaverse: the post--hype future

Abstract

Purpose Beyond its initial hype, and based on original new surveying, this paper explores the impact of metaverse on business in the medium to long-term. Methodology IBM Institute for Business Value, in collaboration with Oxford Economics, surveyed 400 C-Suite executives, (CEOs, CIO/CTOs and CMOs) in the U.S. across 25 industries on their investments in metaverse, business cases and outcomes. Findings Despite the media hype, the majority of investment in metaverse is B2B. Although the biggest impacts of metaverse are medium to long-term, there are benefits immediately accessible in the short-term. More success is likely if organizations develop metaverse strategies with ecosystem partners. Research implications Metaverse was extremely fashionable, now far less so. Both extremes are inappropriate. Metaverse, especially as a B2B strategy, has an important role to play in an organizations' strategy. Practical implications Many businesses are making investments in metaverse. They should continue. Social implications Metaverse impacts extends beyond B2C applications into the B2B workplace. Originality and value This work is completely original, based on new data and analysis that has not been published elsewhere.