The Metaverse in the Financial Sector

Abstract

Emerging technologies have the potential to disrupt industries. With the rise of new technology, often established business models face changes, and completely new business models appear. Recently, the Metaverse has been seen as one of the emerging technologies. Many sectors started to explore the Metaverse opportunities, and the financial industry is one of them. In light of this context, the thesis addresses five research questions centered around one essential research objective: how the financial sector benefits from the Metaverse. In order to answer this question, data was gathered from the literature review and the interviews with the experts. The obtained data was cleaned, analyzed, and structured into the framework. Thus, the contribution of this thesis is a Metaverse framework. The framework categorizes use cases of the Metaverse for the financial sector. It also provides information on the value each category of use cases brings to financial institutions and their customers. Additionally, the framework includes information about Metaverse's impact on the financial sector, challenges, and timeframes of mass adoption of the new technology.