Meta: XR-AR-MR and Mirror World Technologies Business Impact of Metaverse

Abstract

Metaverse offers opportunities for companies to create innovative business models by providing a virtual platform where they can sell products and services and interact with customers in new and unique ways. Extended Reality (XR), Augmented Reality (AR), Mixed Reality (MR) and Mirror World technologies are important technological pathways for the metaverse. The metaverse concept is changing organizational structures with new opportunities and shaping the workforce for the future environment. The purpose of this review article is to discuss the concept of metanomics, the business implications of the metaverse in the context of the economy, business and employee-based value, future workforce, B2B opportunities and new business models. The concept of metaptation was associated with the metaverse in later studies to be conceptualized within the framework of adaptation theory. This review concludes by asserting that as the metaverse continues to evolve, driven by advancements in XR, AR, MR, and Mirror World technologies, it will not only revolutionize traditional business models but also necessitate a new paradigm of metaptation, where businesses must continuously adapt to harness the full potential of the metaverse in the realms of economic growth, innovative B2B opportunities, workforce development, and customer engagement. In order to be successful in this dynamic change process, businesses should adopt a strategic approach to adopting these innovative technologies. These strategic steps of businesses will contribute to gaining competitive advantage by enabling them to make the most of the commercial potential of the Metaverse.