The rise of blockchain, metaverse and Web3 technologies has lead to rapid adoption across all sectors of the economy. The government sector is no exception. Perhaps one of the most compelling examples is the recent announcement that the US military is building its own metaverse.
As frequently as you heard “NFTs” in 2021, you will hear “metaverse” in 2022. The common denominator with these topics is that both heavily leverage blockchain technology. The other common denominator is that both NFTs and metaverses involve a long list of complex legal issues. We have addressed some of the legal issues with NFTs here and here. The link below provides an overview of some of the legal issues with metaverses. We view metaverses as a confluence of technologies and business models which may include some or all of those set forth below. Many companies are jumping into NFTs and the metaverse but don’t have a full understanding of all of the potential legal issues. As each metaverse is unique, it is important to obtain an assessment of the potential legal issues with your metaverse implementation or participation and the various technical and business elements you plan to use.
Continue Reading Are You Well “Versed” in the Legal Issues with Metaverses?