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Whether you are creating new virtual worlds, realities or universes, the digital assets that populate them, or the infrastructure that enable individuals to interact and transact in them, there are numerous legal issues that you may have to navigate. Here are four potential pitfalls that creators of and in the metaverse should avoid. Foregoing Legally Enforceable Contracts. Relying on smart contracts, dapps and other programs exclusively expressed in code to govern transactions between parties can…

Blockchain was originally created to validate the transactions of bitcoin and other cryptocurrencies. It can be described as a digital ledger of transactions that is an immutable database and distributed across a network of computer systems. Although touted primarily as a value transfer technology, at its core, blockchain is also a records and data management technology.1 Blockchain technology provides a system for recording information in a manner that makes it difficult to change, hack, or…