The metaverse is a new world, an evolving, alternative environment in which change can happen in the blink of an eye. New combinations of technology, devices, and communication networks have given human beings the opportunity to collaborate, transact, perform, argue, and create as never before in human history.
A clear benefit is the increased access to goods – the increased connectivity lets businesses sell their goods worldwide – regardless of where physical outlets are. The metaverse enables individuals to interact with brands directly and generates higher user engagement. It increases exposure for brands and celebrity clients, and some people are able to own or sell virtual space in the metaverse.
Our international team of lawyers from our music, games, data, advertising and marketing, film and television, social media and technology groups works with the organizations leading the metaverse revolution. Some of them were instrumental in some of the global legal developments on the metaverse. Our lawyers advised on numerous related high-profile M&A deals, NFTs and digital assets, intellectual property, commercial arrangements, security, licensing, regulatory and governance and compliance.
The metaverse will alter the way we act, socialize, work, and live our lives. Participants from sectors as varied as consumer-driven industries, manufacturing and construction have much of a stake in this. Ultimately, consumers will gain the most from the metaverse as information, products, entertainment, and social experiences are enhanced and become more accessible.