Abstract

Purpose: The aim of this study is to examine the factors influencing prospects toward for the metaverse in both the public and private sectors, focusing on the perspectives of millennials and generation Z that were rarely examined in previous studies. Research design, data and methodology: This study employed an online survey as its research methodology utilizing factor analysis, ANOVA, and regression analysis to test the formulated hypotheses. Results: The findings of this study reveal that factors such as citizen/customer relationship management, the application of metaverse in both in the public and private sectors. Moreover, the effect size of applying the metaverse to cities on prospects toward the Metaverse was notably higher in the public sector. The effect size of metaverse management for customer relationship management showed a greater impact in the private sector. Conclusions: The results carry significant managerial and policy implications. They shed light on how millennials and generation Z perceive the applications of the metaverse in relation to cities, products, and brands. Notably, the results suggest that application of the metaverse for cities and management of customer relationships for products and brands emerge as key factors influencing the prospect of the metaverse in the public and private sectors.