Mitigating Negative Externalities in the Metaverse: Challenges and Strategies

Purpose: This chapter investigates the management of negative externalities arising from contemporary digital technologies, with a specific focus on the metaverse. The study emphasizes the critical need to understand and mitigate the adverse consequences that accompany technological advancements, particularly within the intricate landscape of the metaverse. It delves into practical strategies for addressing these issues, taking into account the metaverse’s unique fusion of virtual and real elements. Design/Methodology/Approach: The research methodology employed a systematic and rigorous approach, involving an exhaustive review of existing literature across a spectrum of disciplines encompassing user education, responsible innovation, ethical frameworks, and metaverse technologies. A qualitative analysis was conducted to distill key findings, with a focus on identifying originality and value within the existing body of work. By synthesizing insights from disparate sources, this chapter aims to provide a holistic understanding of the complex interplay between innovation and ethical considerations. Findings: This chapter categorizes negative externalities arising from digital technologies, particularly within the metaverse, examining social isolation, psychological distress, and ethical concerns. Strategies for mitigating these impacts are explored, emphasizing ethical frameworks, balancing innovation with responsibility, user education, and responsible innovation. The chapter aims to foster a harmonious coexistence between virtual and physical realities while upholding ethical values, social responsibility, and sustainable growth. Originality/Value: This chapter adds a novel layer of originality to the discourse surrounding user education and responsible innovation in the metaverse. By synthesizing insights from disparate domains, the chapter enhances the understanding of ethical framework application in the metaverse insights for practitioners, policymakers, and researchers grappling with the intricate balance.