The metaverse: A product-service innovation canvas for co-creating and capturing value

Abstract

Recent years has seen a rising interest in the metaverse as technological domain that has potential for value co-creation and capture in contemporary marketplaces. This paper aims to provide insights into how firms can conceive the value creation potentialities and navigate challenges presented by the metaverse. This paper draws on extant research on the metaverse to explicate strategic potentialities and cautionary landmines of the metaverse. It goes on to conceptualise the metaverse product-service innovation canvas through which value could be created, captured or dissipated for contemporary organizations. The paper presents conceptual characterisation to explicate how organizing expedience, timing and approaches to meaning-making and sensing of this novel technological form may serially combine to determine patterns of (dis)advantage for a firm operating in the ever-competitive business landscape. Positioning the metaverse as a technological platform on which value-creation modes are positioned, this paper presents a conceptual model that offers practical insights into transitional pathway through which value could be captured in the metaverse.