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In this episode, Brian Hengesbaugh, Global Chair of Privacy and Security, is joined by Anne Petterd, privacy and cybersecurity partner based in Sydney, as they discuss privacy in the metaverse, highlighting key concerns at the intersection of these two complex and cutting-edge issues. The two explore universal topics of trust, transparency and how they relate to personal data protection in the digital environment. Listen in to hear more about: What is the metaverse? Who controls…

This article was first published by Bloomberg Tax on 13 September 2022 here. A growing number of companies are moving, or are considering moving, to the metaverse ecosystem to create an immersive digital experience for users. When exploring a move to the metaverse, companies should consider the high-level tax aspects when doing business in this virtual environment. Key Takeaways The metaverse ecosystem is attracting businesses across industries and is no longer limited to companies with…

Metaverse is one of the hottest buzzwords in technology today. Given its potential impact on both the real and virtual worlds, developments are being made to accommodate this new technology in multiple facets globally. Particularly, countries in Asia are experiencing strong incentives for the initial exploitation of the Metaverse. For example, investments in Thailand relating to the Metaverse are seen both in the public and private sectors. These investments involve many traditional companies, such as…

I. Introduction This article focuses on the use of NFTs in metaverses. At first, we will briefly introduce NFTs, particularly in the video games industry. Video games feature vast virtual worlds that are a considerable part of many companies’ metaverse strategy, with many of the major fashion brands bringing their products to video games. Subsequently, we will provide insights concerning two key legal areas for NFTs: financial regulation (Section II) and intellectual property rights (Section…

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…