```php Designing Low-Cost 3-D Avatars Enabled to Teach Compounding Concepts to Gen Z for Enhancing Financial Literacy by Leveraging Web3 Gamification for Financial Literacy | Abstract IJTBM

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Abstract

Designing Low-Cost 3-D Avatars Enabled to Teach Compounding Concepts to Gen Z for Enhancing Financial Literacy by Leveraging Web3 Gamification for Financial Literacy

298-306 Vol: 12, Issue: 1, 2022
Receiving Date: 2022-02-24
Acceptance Date: 2022-03-27
Publication Date: 2022-03-28
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http://doi.org/10.37648/ijtbm.v12i01.017

Abstract

Financial literacy among Generation?Z is alarmingly low, especially around compound interest and
credit. This paper presents an innovative, Web3-based gamified learning system that uses low-cost 3-D
avatars and visual narratives to teach compounding concepts. By integrating NFTs for identity,
interactive missions, and real-time compounding simulation within a metaverse environment, the
platform aims to engage 18–24-year-olds intuitively and enhance knowledge retention. A prototype
was implemented and evaluated with a randomized controlled trial (N?=?100) comparing it to traditional
text-based instruction. The Web3 gamified group outperformed the control group significantly (75?% vs
55?%, p? highlighted the motivational effect of avatar growth and NFT rewards. Results show that Web3
gamification can meaningfully improve compound interest learning while remaining low-cost and
scalable. Limitations include gas-cost friction and novelty bias. Future work includes deploying
advanced financial topics, refining UX to mitigate over-gamification, and evaluating long-term
retention and cross-cultural adoption.

Keywords: Designing Low-Cost 3-D Avatars; NFTs; Financial Literacy; Web3 Gamification

References

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