Metaverse is a new technology expected to revolutionize cyberspace. It uses principles like mobilization, automation, and real-time activity. Many companies are coming together to bring Virtual Reality experiences together using haptic, audio, and visual technology in the Metaverse. Metaverse is expected to revolutionize content creation, monetization, and socialization.
However, the new technology comes with various legal implications because there is no precedence or existing Metaverse standards. Here are some of the legal trends likely to emerge with the Metaverse.
Avatar Lawyers
Metaverse allows individuals to immerse versions of themselves as avatars through AR or VR. People can access these versions using special tools like VR goggles. As Metaverse will enable people to play, socialize and work as avatars, it will not be surprising to find avatar lawyers. For instance, a New Jersey law firm, Grungo Colarulo, already has an office in the Metaverse.
The right to practice will be agreed upon in the Metaverse, and lawyers’ knowledge, skills, and credentials will have to be established. Based on certain factors, the Avatar lawyers may be significantly different from human lawyers.
User Interactions
When people interact using avatars, there will probably be actions that would equate to breaking the law in the real world. Suppose an avatar kills or assaults another. Are there ways to make them responsible for their actions? If so, there will be a need to give the avatars a legal persona that allows them to have duties and rights within the legal system, meaning that they can sue or be sued.
Intellectual Property
As Metaverse becomes mainstream, intellectual property ownership, piracy, and patent issues will need to be addressed. Content creators and owners will have to understand the usage rights and licensing boundaries. Since some avatars can create commercial value, there is a need to restrict the use of celebrity lookalikes in different experiences within the virtual reality world.
In some intellectual property disputes in the Metaverse, existing laws may apply. In cases where existing laws might seem awkward or insufficient, there may be a need to pass new laws and regulations.
Boundless Marketplaces
Transactions in the Metaverse will be monetized through non-fungible tokens (NFT) or cryptocurrency. An NFT could be a unique image, video, piece of music, or any type of artistic work.
In actual world transactions, the buyer of a new piece of art retains the ownership rights. However, in the Metaverse, there is a concern that the original owner may keep the ownership rights of an NFT despite making a transaction. This creates a need for a global regulatory authority to safeguard the interactions and transactions of individuals in the Metaverse.
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