An IP map to navigate NFTs in the metaverse

15-02-2023

Erwin Sotiri and Ruben Mendes

An IP map to navigate NFTs in the metaverse

Immersion Imagery / Shutterstock.com

Legal challenges prove that the virtual world is just as complicated as the real one, explain Erwin Sotiri and Ruben Mendes of Bonn Schmitt.

The “metaverse” refers to a virtual shared space where users can interact with each other and with digital objects in a seemingly real and immersive environment.

In terms of IP rights, the metaverse may present various options for businesses and established brands. It was thought to represent a revenue opportunity worth between $8 and $13 trillion in 2022.

Some potential areas of opportunity include: (a) licensing and merchandising of IP rights, such as logos, trademarks, and other types of branded content, and which may include creating virtual goods or experiences that incorporate a company's brand; (b) virtual real estate, which may include buying/selling and leasing virtual spaces in a manner similar to physical real estate ("metaverse land grab"), or otherwise using those virtual spaces to showcase products, services, or branding (virtual goods).


NFTs, trademarks, copyright, metaverse, intellectual property, infringement

WIPR