Adoption of Metaverse in South East Asia
Hock Leong Chan Julian, Tinfah Chung, Yuyang Wang
Abstract
Despite massive support for blockchain startups, countries in Southeast Asia have yet to fully launch themselves into metaverse. The appeal of playing lucrative crypto games such as Axie Infinity, where active players can earn up to US$15 per day, may provide these countries the incentive to kickstart many of the business opportunities in metaverse gaming. Metaverse is a potential hype. The international audience has started riding on the back of metaverse's success. Countries in Southeast Asia (SEA) are at with their respective development within the metaverse space. It is important to recognise the level of development of metaverse in these countries. Among those who felt negative about the Metaverse, the most common reason was their concerns about data security and privacy. This research intends to understand the development of metaverse in countries in SEA – Vietnam, Indonesia and Malaysia. Through understanding the development of metaverse in these countries, these countries can properly position themselves to reap the most benefit out of this hype.