Subject Validity Issues and Potential Solutions in the Era of Metaverse-Starting with the Concern Over Property Rights in Crypto Art

Summary: This study investigates the social benefits of utilizing Roblox and Zepeto, two popular metaverse platforms in South Korea. It focuses on young generations and examines if enhanced social presence in the metaverse facilitates supportive interactions and reduces loneliness through social self-efficacy. A structural equation modeling with 300 young Koreans reveals that social presence predicts the amount of supportive interactions, which in turn predicts social self-efficacy and reduces feelings of loneliness. The findings provide implications for designing metaverse features to maximize social benefits for young users.

Summary: As consumption becomes digital and virtual, our perspectives on money, possessions, and ownership are undergoing significant transformations. The Metaverse represents an imagined future space where the foundations of neoliberal production and consumption are redefined. By studying cryptocurrencies, algorithmic collectibles, and NFTs, we can gain insights into these changes and the impact of online auctions and speculation on artists, art institutions, buyers, and investors. Additionally, we explore new forms of ownership, such as fractional ownership and fractionalized property rights, in order to understand why some consumers are willing to pay astronomical prices for digital art.