A Novel Hybrid Decision Making Framework for Comparing Market Performance of Metaverse Crypto Assets

Dragan Pamucar; Sanjib Biswas

doi:10.31181/dma1120238

Authors

Dragan Pamucar University of Belgrade, Faculty of organizational sciences, Department of operations research and statistics, Belgrade Serbia
Sanjib Biswas Decision Sciences & Operations Management, Calcutta Business School, West Bengal, India

DOI:

https://doi.org/10.31181/dma1120238

Keywords:

Cryptocurrencies; Metaverse coins; Multi-Criteria Decision Making; MCDM; Compromise solution; Logarithmic Percentage Change driven Compromise Solution based Appraisal.

Abstract

With proliferation of smartphone usage and rapidly increasing internet access, the financial sectors has been witnessing a transformational change in the last few years, leading to the digital economy. The cryptocurrencies (digital assets) and the metaverse assets that use blockchain technology extensively have emerged as an attractive investment option to the investors. The review of the extant literature shows a scantiness of research in comparing the performance of metaverse crypto assets based on market indicators. In this regard, the current work aims to provide a framework to compare the metaverse crypto assets based on their market performance. To this end, the present paper proposes a novel hybrid framework such as Logarithmic Percentage Change driven Compromise Solution based Appraisal (LOPCCSA). To compare the alternatives the variables like return, momentum of the daily closing price, market capitalization, trading volume and risk (in terms of historical volatility realized over the study period 2022). From the result we observe that the momentum of the closing prices and volatility of the price movements hold the higher importance as derived by calculation of objective weights. Theta Network (A10) comes out as the top performer ahead of ApeCoin (A1) or MANA (A3) or Internet Computer (A6). The comparison of the results obtained by LOPCCSA with other MCDM models show considerable consistency. The sensitivity analysis indicates that LOPCCSA provides a stable solution. The present paper is a distinct attempt that shall attract the decision makers and investors to carry out a deeper and comprehensive analysis of the metaverse crypto assets in near future.

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