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