A Descriptive Study on Metaverse: Cybersecurity Risks, Controls, and Regulatory Framework

Abstract

Maximalist, interconnected set of experiences straight out of sci-fi, based on 3D virtual environment through personal computing, and augmented reality headsets—a world known as the Metaverse—this is the futuristic vision of internet that technology giants are investing in. There has been some research on data privacy risks in the metaverse; however, detailed research on the cybersecurity risks of virtual reality platforms like metaverse have not been performed. This research paper addresses this gap of understanding the various possible cybersecurity risks on metaverse platforms. This study tries to understand the risks associated with metaverse by describing the technologies supporting metaverse platform and understanding the inherent cybersecurity threats in each of these technologies. Further, the paper proposes a cybersecurity risk governance regulatory framework to mitigate these risks.