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Andhika Rafi Hananto
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International Journal Research on Metaverse
Published by Meta Bright Indonesia
ISSN : -     EISSN : 30626927     DOI : https://doi.org/10.47738/ijrm
Core Subject : Science,
Computer Science & IT
Virtual and augmented reality technologies Network infrastructure and architecture for the metaverse Digital economy and transactions in the metaverse Social and cultural aspects of virtual environments Development and design of content in the metaverse Impact of the metaverse on industries such as education, healthcare, entertainment, and business Regulation, policy, and ethics in the metaverse IJRM aims to foster interdisciplinary dialogue and collaboration, contributing to the body of knowledge that drives the adoption and evolution of metaverse technologies. Papers published in IJRM are grounded in rigorous research methods and are expected to articulate their implications for theory and practice clearly. Authors are encouraged to state their contributions to the state-of-the-art in the field explicitly. Subject Area and Category: The International Journal Research on Metaverse focuses on virtual and augmented reality, network infrastructure, digital economy, social and cultural impacts, content development, industry-specific applications, regulation and ethics, and practical case studies.
Arjuna Subject : Ilmu Komputer (semua kategori) - Ilmu Komputer (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "Vol. 1 No. 2 (2024): Regular Issue September" : 5 Documents clear
Exploring the Impact of Virtual Reality Experiences on Tourist Behavior and Perceptions Sukmana, Husni Teja; Kim, Jong Il
International Journal Research on Metaverse Vol. 1 No. 2 (2024): Regular Issue September
Publisher : Bright Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/ijrm.v1i2.8

Abstract

This study explores the impact of virtual reality (VR) experiences on tourist behavior and perceptions, utilizing logistic regression and analysis of variance (ANOVA) to understand these relationships. The logistic regression analysis revealed that VR experience (coefficient = 0.432, p = 0.020) significantly enhances the likelihood of being a tourist. Demographic factors such as gender (coefficient = -0.512, p = 0.018), income (coefficient = -0.301, p = 0.001), and age (coefficient = 0.298, p = 0.003) also play crucial roles: females and higher-income individuals are less likely to be tourists, while older individuals are more likely to travel. ANOVA results indicated significant differences in emotional responses (EMO1: F = 6.40, p = 0.012; EMO2: F = 4.63, p = 0.032; EMO3: F = 7.77, p = 0.006; EMO4: F = 5.77, p = 0.017), flow states (FLOW1: F = 12.21, p = 0.001; FLOW2: F = 20.39, p < 0.001; FLOW3: F = 17.38, p < 0.001; FLOW4: F = 14.52, p < 0.001), and intentions to visit (INT2: F = 7.79, p = 0.006; INT4: F = 4.61, p = 0.032) based on VR experience. These findings suggest that VR significantly influences emotional and cognitive states, fostering engagement, satisfaction, and increased intentions to visit real-world destinations. The results underscore the potential of VR as a powerful tool in tourism marketing, capable of driving tourism interest and behavior. Future research should investigate the long-term effects of VR on tourist behavior and consider cultural and technological advancements to further optimize VR's application in tourism. This study offers actionable insights for tourism marketers to develop targeted, effective, and immersive VR promotional strategies.
Sales Trends and Price Determinants in the Virtual Property Market: Insights from Blockchain-Based Platforms Yadulla, Akhila Reddy; Maturi, Mohan Harish; Meduri, Karthik; Nadella, Geeta Sandeep
International Journal Research on Metaverse Vol. 1 No. 2 (2024): Regular Issue September
Publisher : Bright Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/ijrm.v1i2.9

Abstract

The virtual property market, driven by blockchain-based platforms like Decentraland, Cryptovoxels, and The Sandbox, parallels the physical real estate market. This study analyzes sales trends and identifies key factors influencing property prices in Decentraland, covering over 10,000 transactions from January 2020 to December 2023. Objectives include examining daily, weekly, and monthly sales trends, analyzing price distributions by property type, and exploring correlations between property prices, Mana cryptocurrency, and land prices. Daily sales fluctuated significantly, with peak days reaching up to 150 transactions and off-peak days as low as 10. Weekly sales trends indicated cyclical patterns, with notable peaks every four to six weeks, while monthly trends showed a 5% average growth rate. Price distribution analysis revealed parcels ranged from 1,000 to 50,000 Mana (mean: 15,000 Mana), and roads ranged from 500 to 20,000 Mana (mean: 8,000 Mana). A very strong positive correlation (r = 0.99) was found between property prices and land prices, indicating land prices are a significant determinant of property values. Conversely, the correlation between property prices and Mana prices was weak (r = -0.05), suggesting limited direct influence of cryptocurrency volatility on property values. Traditional real estate markets are influenced by factors like location and property characteristics, while virtual property markets are significantly affected by digital factors such as cryptocurrency prices and virtual locations. The integration of virtual reality (VR) and augmented reality (AR) technologies in real estate has transformed property presentation and buyer engagement, enhancing decision-making. Digital tools like Google Trends have proven useful in predicting market trends. This study addresses the gap in understanding digital influences on virtual property values, providing insights for investors, developers, and policymakers. The methodology includes data collection, preprocessing, and analysis using advanced statistical and machine learning tools, offering a comprehensive understanding of Decentraland's virtual property market to aid informed decision-making.
Geospatial Analysis of Virtual Property Prices Distributions and Clustering Sugianto, Dwi; Hananto, Andhika Rafi
International Journal Research on Metaverse Vol. 1 No. 2 (2024): Regular Issue September
Publisher : Bright Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/ijrm.v1i2.10

Abstract

This paper presents an analysis of property prices in the virtual world, focusing on geographical distribution and district comparisons. Utilizing a dataset of virtual properties, we applied scatter plot analysis, cluster analysis using DBSCAN, and box plot comparison to identify key patterns and opportunities within this market. The scatter plot analysis revealed that property prices are unevenly distributed, with higher prices clustering in specific regions, indicating areas of higher desirability and value. The DBSCAN clustering identified distinct high-value clusters, each containing 10 to 67 properties, and highlighted 1,067 properties as noise, suggesting a dispersed distribution of lower-value properties. Box plot comparisons across districts showed significant variations in property values. Some districts exhibited higher median prices, with the highest at 35,452.60 MANA, while others had lower medians. Variability within districts varied, with some showing a wide range of prices and others more uniform values. Outliers suggested unique investment opportunities in both premium and undervalued properties. For virtual real estate investors, the findings emphasize the importance of location and strategic investment. High-value districts and emerging areas offer potential for significant returns. Developers and urban planners can use these insights to focus on high-demand areas, enhancing project value through strategic investments in infrastructure and amenities. This study highlights the dynamic nature of the virtual real estate market and the importance of ongoing research to understand factors influencing property values. Stakeholders can make informed decisions and capitalize on opportunities in this evolving market.
The Impact of Market Activity on Property Valuations in Digital Real Estate Through a Quantitative Analysis of Bidding and Sales Dynamics Saputra, Jeffri Prayitno Bangkit; Putri, Nadya Awalia
International Journal Research on Metaverse Vol. 1 No. 2 (2024): Regular Issue September
Publisher : Bright Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/ijrm.v1i2.11

Abstract

This study investigates the impact of market activities, specifically the number of bids and sales, on property prices in digital real estate markets. With the rise of virtual environments and digital assets, understanding the factors that drive property valuations in these markets has become increasingly important. Utilizing a dataset of 2,000 property transactions, this research employs correlation and regression analyses to explore how competitive bidding and sales frequency influence prices. The results indicate a significant positive correlation (r=0.38r = 0.38r=0.38) between the number of bids a property receives and its final sales price, suggesting that properties attracting more bids are perceived as more valuable, leading to higher prices. The regression analysis further supports this, showing that each additional bid is associated with an increase of 6.63×10216.63 \times 10^{21}6.63×1021 in the sales price (p
Determinants of Virtual Property Prices in Decentraland an Empirical Analysis of Market Dynamics and Cryptocurrency Influence Wahyuningsih, Tri; Chen, Shih Chih
International Journal Research on Metaverse Vol. 1 No. 2 (2024): Regular Issue September
Publisher : Bright Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/ijrm.v1i2.12

Abstract

This study explores the emerging virtual property market within the digital world, with a focus on identifying the key factors influencing property prices, market activity, and sales volume. Using a dataset of 2,000 virtual property transactions, the research provides a comprehensive analysis of market dynamics in this new frontier of digital real estate. The findings reveal significant volatility in transaction activity, with a peak of 1,222 transactions in January 2022 followed by a sharp decline to 539 in February 2022 and just 24 in March 2022, indicative of a nascent and speculative market. The analysis identifies land price as the most significant determinant of virtual property values, showing a near-perfect correlation of 0.992 with sales prices. This highlights the critical role of location and land value, similar to traditional real estate markets. Additionally, the study finds that properties attracting more bids tend to sell at higher prices, with a moderate correlation of 0.380 between bids count and sales price, reflecting the impact of competitive bidding in driving up values. However, the market is relatively illiquid, with a mean sales count of just 1.79, indicating that most properties are held as long-term investments rather than frequently traded assets. Interestingly, the research also uncovers a weak negative correlation of -0.051 between sales price and the underlying cryptocurrency, MANA, suggesting that the value of virtual properties may be increasingly decoupled from cryptocurrency volatility as the market matures. These insights provide valuable guidance for investors, developers, and policymakers navigating the evolving landscape of virtual real estate. The study concludes with a discussion of the implications for future market stability and potential areas for further research.

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