[AISWorld] Metaverse, Smart Contracts, and Non-Fungible Tokens: Societal and Economic Dynamics

[kevin kevincraig.net]

A Special Issue of International Journal of Electronic Commerce

The Metaverse has captured the public's attention and is beginning to disrupt a wide range of societal and economic structures. Primarily, the Metaverse enables massive social connections in a virtual space, which affords novel organizational mechanisms, information sharing with elaborate rules, new opportunities to monetize creative work, and untold perceived future benefits for those who invest the time and effort to integrate these into their business and personal lives.

The Metaverse is rapidly changing traditional societal and economic dynamics in exciting ways that will expand the use of technology and broaden participation in many domains of human interaction. Smart Contracts, and Non-Fungible Tokens ("NFT's"), for example, reduce barriers to participation in valuable sectors of the economy through portable digital assets supported by blockchain technology. Artists and musicians are using Smart Contracts and NFT's to monetize their work. Individuals who may have never owned land are purchasing virtual space in the Metaverse. In these and many other ways, individuals are enriching their lives and benefiting society through broader participation in the economy. However, there is a dark side: the novelty of Metaverse presents challenges. Many who engage in this virtual economy and broader life are naïve regarding the assets that they represent and creating investment bubbles that will cause harm. Also, this new digital economy and technologies allow criminal networks to flourish and offer unique opportunities to collect and launder illicit real-world currency.

Societal norms and legal frameworks develop slowly, but the changes brought by the Metaverse and associated new technologies, such as Smart Contracts and NFTs, are manifesting themselves almost instantaneously. The distributed ledger system that supports Metaverse facilitates almost frictionless commerce, but its distributed and anonymous nature has also created a nursery for crime. NFT's for instance, offer a low-cost means to realize value from creative works, but are the basis for potentially harmful speculation. The markets in which all of these assets are traded are global and open at all hours; this makes for efficiency but also leads to overwork and mental strain. Looming over all these issues is the matter of trust, as individuals evaluate the vulnerability of money and private information on a distributed ledger. Research is needed to generate new theory to explain the societal and economic ramifications of the Metaverse and its emerging technologies. As well as the refresh of existing theories about the societal and economic structures that these technologies are disrupting.

In the new age of the Metaverse, Smart Contracts, and NFT's, social scientists must develop and update their understanding of how individuals interact with societal and economic structures. Individuals, organizations, and governments need guidance to maximize the benefits of a new digital economy, where users create, buy, and sell virtual products and services, while minimizing potential harm. This special issue of the top-ranked International Journal of Electronic Commerce is intended to initiate research into the societal and economic impacts of the emergence of the Metaverse and its enabling technologies. Topics include, but are not limited to:


  *   The Metaverse Economy
  *   Virtual Real Estate and Metaverse Property
  *   Virtual Investment Bubbles and Their History (e.g., Second Life)
  *   Virtual Community Inclusivity Issues and Opportunities
  *   Harassment, Bullying, and Abuse in the Metaverse
  *   NFT's, Metaverse, and Money Laundering
  *   Fraud and Deception with NFT's
  *   Social and Legal Implications of Blockchain Forks
  *   Realizing Value from NFT's
  *   Name/Image/Likeness NFT's
  *   Smart Contracts and Royalty Agreements
  *   Decentralized Autonomous Organizations (DAO's)
  *   NFT Games and Immersive Technologies
  *   Corporate Metaverses
  *   Trust in Technology and NFT's
  *   Health Records Control with Smart Contracts


Guidelines that Apply to All Papers to Be Recommended for Review and Acceptance in the IJEC Special Issue

1.       All papers should be in Word.

2.       All papers should be edited for the English-language style.

3.       No PLS should be used for validation.

4.       There should be no copied material such as figures, without an attached permission to reproduce from the copyright holder.  It is best not to use reproductions at all.

5.       All papers should be tied to Electronic Commerce and, when appropriate, reference the relevant IJEC papers.

6.       References should be alphabetized, numbered, and cited by number.  All References should be exactly in the format specified on the ijec-web.org website of IJEC.

7.       The length should be up to 50 pp, with a separate online appendix file if desired.

8.      The corresponding author should be indicated.

9.      Delete section numbers, as IJEC does not use them.

Please submit a complete Word file of the paper, including the cover page will full postal and e-addresses of all the authors (the corresponding specified), followed by the page with the authors' bios and the body of the paper.  If an appendix file is attached, it should be in Word as well, with references as specified above (by number).

Timeline:

International Journal of Electronic Commerce (IJEC) Special Issue Timeline



  *   February 15, 2023 Submission deadline for IJEC Special Issue on "Metaverse, Smart Contracts, and Non-Fungible Tokens: Societal and Economic Dynamics"
  *   Initial Notification (reviews, rejections, and desk rejections): 15 April 2023
  *   Revisions Due: 15 June 2023
  *   Second Round of Decisions: 15 August 2023
  *   Final Resubmission Deadline: 1 October 2023
Final Decision or Minor Revisions Handled by Editors: 30 November 2023

Kevin Craig
kac0117 at auburn.edu