Navigating the Metaverse: Assessing the Influence of Web3, Blockchain, and Cryptocurrency Knowledge on User Adoption
(R2024-122628)

AUTHORS

Michael Hollaus, University of Applied Sciences Wiener Neustadt, Campus Wieselburg; Meri Grant, University of Applied Sciences Wiener Neustadt, Campus Wieselburg

ABSTRACT

This paper assesses the level of understanding and knowledge of Web3, Blockchain, and Cryptocurrency among the participants and examines how this knowledge affects their willingness to engage with the Metaverse. Prior to that, the participants were asked to estimate their level of knowledge on the above-mentioned topics. The findings revealed a positive and significant association between actual knowledge of Web3 & Cryptocurrencies and entering the Metaverse. In contrast, knowledge of Blockchain technology does not have a significant influence. Furthermore, ownership of cryptocurrency was found to be a significant factor, as individuals who possessed cryptocurrency demonstrated a greater willingness to enter the Metaverse compared to non-owners. Moreover, participants in general tended to overestimate their actual knowledge, resulting in lower actual knowledge levels than self-reported knowledge.