Safeguarding People's Financial Health in Metaverse with Emotionally Intelligent Virtual Buddy

TL;DR

This paper discusses the importance of safeguarding financial health in the Metaverse by proposing an emotionally intelligent virtual buddy to help users navigate risks associated with cryptocurrencies and NFTs.

Contribution

It introduces a novel emotionally intelligent virtual assistant designed to protect users' financial well-being in the Metaverse environment.

Findings

Enhanced user engagement with virtual buddy

Reduction in financial scams and fraud

Improved user awareness of virtual transactions

Abstract

The Metaverse, an immersive virtual world, has emerged as a shared space where people engage in various activities ranging from social interactions to commerce. Cryptocurrencies [3] and Non-Fungible Tokens (NFTs) [6] play pivotal roles within this virtual realm, reshaping interactions and transactions. Cryptocurrencies, utilizing cryptographic techniques for security, enable decentralized and secure transactions, and NFTs represent ownership or proof of authenticity of unique digital assets through the blockchain technology. While NFTs and cryptocurrencies offer innovative opportunities for ownership, trading, and monetization within the metaverse, their use also introduces potential risks and negative consequences, such as financial scams and fraud, highlighting the need for users to exercise caution and diligence in their virtual transactions.