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

Abstract

Purpose Recent years has seen rising interest in the metaverse as a 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. Design/methodology/approach 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 on which value could be created, captured or dissipated for contemporary organizations. Findings This paper presents a conceptual characterisation of the metaverse that explicates 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 firms operating in hyper-competitive business landscape. Originality/value 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.