The Reed Smith Guide to the Metaverse - 2nd Edition

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Advertising technology (AdTech)

An umbrella term describing the tools that brands, agencies, publishers and platforms use to target, measure and analyze digital advertising efforts.


A marketing practice involving the unsolicited transfer of coins or tokens to numerous wallet addresses.

American Federation of Musicians (AFofM)

A labor union that represents professional instrumental musicians in the United States and Canada.

Anti-money laundering/combating the financing of terrorism (AML/CFT)

Measures to prevent criminals and terrorists from abusing the financial system.

Artificial intelligence (AI)

Machines’ ability to simulate human intelligence through their programming.

Augmented reality (AR)

Enhancement of the real physical world aided by the use of technological devices to create an interactive environment.


An icon or figure representing an individual in a virtual setting.

Binance Smart Chain

A blockchain network built for running smart, contract-based applications.

Bitcoin (BTC)

A form of digital currency that is recorded on a blockchain and is transferrable on a decentralized peer-to-peer network.


A distributed database or ledger comprised of “blocks,” which record transactions and are securely linked using cryptography.

Collective bargaining agreements

Agreements between an employer and a union representing employees, such as SAG-AFTRA or AFofM.

Consumer protection

The protection of the public from the risks that arise when purchasing goods and services. Consumer protection legislation governs the relationships between individual consumers and businesses and covers areas such as product liability, privacy rights, fraud, misrepresentation and other unfair practices.

Creator/creator economy

A software-facilitated economy that allows creators to earn revenue from their creations, mainly on social media platforms.


A cryptographically secured digital representation of value or contractual rights that uses some type of distributed ledger technology (DLT) and can be transferred, stored or traded electronically. Cryptocurrencies, utility coins, security tokens and stablecoins are different types of crypto-assets.


A digital or virtual currency that is stored on a blockchain and uses cryptography as a means of security. A key characteristic of cryptocurrency is that it is not governed by a central authority – examples include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Crypto token

A cryptocurrency that runs on top of another cryptocurrency’s native blockchain. Cryptocurrencies with their own blockchain are normally referred to as “crypto coins,” so this term has become a way to refer to cryptocurrencies other than Bitcoin or Ethereum.


The world of inter-computer communication; a real or virtual world of information in cyberspace.

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