In a Law360 article, attorneys explored the underlying technologies of Web3, and discussed the concept of the metaverse and its commercial opportunities, and examined associated legal considerations. While the metaverse will offer multifaceted new opportunities for businesses and individuals, its rapid evolution and novel organization will also raise many questions for businesses, regulators and the legal industry.
The authors first examine decentralized technologies such as blockchain and smart contracts, non-fungible tokens and decentralized autonomous organizations that will have significant implications for the movement of digital items across Web3 and the metaverse. They then provide an overview of certain legal issues applicable to Web3 and the metaverse including contract law, property law, securities law, IP law, copyright law and data privacy law.
The article was authored by IP transactions partner Megan Baca (Silicon Valley), IP litigation associate Kelley Chandler (Washington, D.C) and asset management law clerk Ty Owen (New York).
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