Metaverse Metamorphosis: Fintech's Evolution Catalyzing New Era of Consumer Behavior

Abstract

All facets of society may enter the virtual world more quickly due to the rapid development of digital technology, which would blur the boundary between the real and the digital realms and encourage the creation of a Metaverse. In the upcoming decades, metaverse technology—which allows immersive experiences in virtual and real environments—will be the next revolutionary force in society. The Fintech industry has been one of the first to adopt it, and it is one of those that uses technology to resolve problems. The study begins by conceptualizing the Metaverse as being defined explicitly by the convergence of its essential components and its influence on the fintech sector. It further discusses how Metaverse could create value in consumer behaviour in three vicinities: social perception, user identity and advertising & consumer psychology. Finally, the study presents the various implications and future scope of this research by doing the thematic analysis to enhance our understanding of the Metaverse economy and how it influences consumer behaviour. This study provides an overview of the shift occurring in the marketplace and contemplates the various changes that it may bring, all through the perspective of consumer behaviour which can be used to create predictive models that recognize emerging trends in customer behaviour, market activities, and other aspects of the business.