Avatars, Digital Assets and the New Internet: Mattos Filho’s Guide to the Metaverse

In the same way everyone is on the internet today, everyone will be in the metaverse in the not-too-distant future. The metaverse proposes to give users an immersive, real-world feeling while connected via a virtual environment.

The metaverse can be defined as a massively scaled, interoperable network of 3D virtual worlds rendered in real time. An unlimited number of users can experience it synchronously and continuously while maintaining a sense of individual presence and data continuity (such as data related to user identity, history, rights, objects, communication and payments).

Whether concerning entertainment, business, events, e-commerce, health, education, recruitment, or digital advertising, the implications of the metaverse are numerous. As such, there will inevitably be legal consequences linked to a diverse range of practices, such as those regarding civil, criminal, competition, tax, real estate, data protection, or cybersecurity law. Moreover, there is also the question of the many types of contracts that will need to be established to regulate relationships within the metaverse.

The distinct opportunities in each sector are gradually revealing themselves, and it is becoming ever more important to analyze how these opportunities can apply to each case. This is just as crucial for identifying and reducing risks – especially given how new this technology is and its potential to have wide-ranging impacts.

Click here to read Mattos Filho’s guide in full. The firm has established itself as a point of reference in Brazil regarding new technologies and has closely followed the numerous ongoing discussions on the metaverse to assist clients in understanding its legal implications.

For further information, please contact Mattos Filho’s Technology practice area.