Applications of Cryptocurrency in the Metaverse

Abstract

The Metaverse and cryptocurrency have become a heated topics of discussion in society due to the rapid development of blockchain technology. However, there is a lack of research and prediction on the future application of cryptocurrencies on the Metaverse. Therefore, this paper reviews the historical development of the Metaverse through literature research and cause-effect analysis and combines the current development trend of new technologies (IoT, AI, NFT, etc.) related to the Metaverse and cryptocurrency with the current successful commercial applications or related academic research (Vtuber, virtual health care ophthalmology) to predict the future application scenarios of cryptocurrency on the Metaverse. This paper's main contribution is to provide an overview of the various cryptocurrency application scenarios currently being used in the Metaverse and predictions of the future development direction in light of the most recent technological trends, thus filling in any existing gaps in the cryptocurrency and related financial fields in the Metaverse. It serves as a resource for academics working on the creation of Metaverse technologies and crypto-currency application case development.