Value creation in the metaverse age: a thematic analysis of press releases

PurposeSince Zuckerberg's announcement to change Facebook's name to Meta Platforms Inc. on October 28, 2021, the concept of the metaverse has gained unprecedented popularity in the business world. Tech giants, SMEs and start-ups across various sectors are making substantial investments in metaverse-related technologies. Despite this, scholarly research in entrepreneurship and strategic management regarding the metaverse remains limited. This paper, grounded in value creation theory, aims to analyze how value is generated in the metaverse era.Design/methodology/approachThis paper conducts a thematic analysis of 895 press releases published by LexisNexis between October 28, 2021, and October 28, 2022. The analysis identifies the primary emerging themes related to value creation in the metaverse age.FindingsThe thematic analysis reveals four significant emerging themes concerning value creation in the metaverse age: (1) factors enabling value creation, (2) digital resources contributing to value creation, (3) motives driving value creation and (4) practices of value creation.Originality/valueThis paper represents the inaugural attempt to analyze the metaverse through a value creation lens. Given the substantial investments and growing academic interest in the metaverse, understanding value creation in this context is a pressing concern. Additionally, this study provides valuable insights and suggests critical questions for future research on the metaverse.