Utilization of Decentralized Autonomous Organization (DAO) for Virtual Property Transaction Governance in Metaverse: A Conceptual Framework

Research related to digital assets & ownership is currently rising along with the escalation utilization of Blockchain through various use cases and its derevatives, for example in facilitating Digital Assets in the form of virtual property (virtual houses / buildings and virtual land) in the Metaverse. These digital assets often have utilities, features, and even limited copies of quantities so that these digital objects have more value for specific users on a platform and even general people who are interested in and value them. To be able to preserve the value of digital assets in the Metaverse such as virtual property previously mentioned especially for transactions, a set of regulations/governance, as well as sustainable development in the future in the Metaverse is really needed so that the use of Decentralized Autonomous Organization (DAO) in the metaverse is one way to maintain the sustainability of the ecosystem & market and its potential of virtual property. After conducting research for DAO development for virtual property transactions, starting with determining goals & purposes, breaking down the DAO focus object (virtual property), clustering relevant attributes, matching socio-economic impacts, and finally designing smart contracts & governance consensus, we obtained 4 main layers namely Consensus Governance, Smart Contract, Virtual Property & Socio-Economic.