Blockchain-based digital assets, including the highly popular non-fungible tokens (NFTs), have found a home in decentralized metaverse platforms where virtual reality and blockchain intersect, enabling users to invest, trade, and interact with them in novel ways. This study investigates the crucial aspect of perceived control over blockchain-based digital assets within this evolving landscape. As the boundaries between the physical and digital worlds continue to blur, the examination of perceived control becomes increasingly relevant. Employing fsQCA, we investigate the determinants of perceived control on a specific decentralized metaverse platform, guided by signaling theory. Our research focuses on engagement, informedness, and commitment as influencing factors. This study extends the implications of signaling theory and perceived control, offering valuable insights to guide the decision-making process and reduce information asymmetry between digital asset investors, metaverse platforms, and the market.