In the metaverse, the offline and online worlds become one: Thanks to a combination of technologies including virtual, augmented reality and virtual assets as well as artificial intelligence (AI), a new, cross-platform iteration of the internet towards the Web3 will connect all aspects of society: In the metaverse, not only can consumers communicate, consume, invest, play or participate in digital events, but industry can also use it to digitalise its business processes, build a corporate presence and employ people.
While some see the metaverse as being about virtual worlds where we will eventually live our daily lives in the future (associated technologies and trends: virtual reality, augmented reality, mixed reality, spatial computing), others expect that we will soon be able to use the metaverse to buy, use, hire out, sell virtual items or plots of land, or hand them down to subsequent generations (associated technologies and trends: blockchain, Web3, NFTs). Others see the metaverse less as a frontend development than as the evolution of technologies used in the backend. For example, they expect an internet which, as a semantic web, not only reproduces the content of websites, but also understands it. This would enable the metaverse to deliver individualised results to users, or even generate content itself (associated technologies and trends: Web 3.0, semantic web, generative AI). Another scenario would be an internet in which humans and machines are connected and can interact (associated technologies and trends: smart wearables, smart home, automated driving, automated drones, digital agents, Industry 4.0, Internet of Things).
Metaverse meets business – innovative legal advice in greater demand than ever
It may sound like a vision of the future, but the metaverse has long featured on many companies' agendas. Transferring business processes and corporate structures to the digital world entails many technical and legal questions. The first step is to clarify which jurisdiction applies in the metaverse. Finally, the Web3 combines a multitude of aspects that companies who want a presence in the metaverse in order to reach consumers and other companies through it must evaluate for themselves.
- What about trade mark protection and copyright, for example in connection with the sale of virtual items such as digital fashion? How can companies effectively protect their intellectual property and trade secrets in the metaverse?
- What competition law and data protection law requirements apply if companies wish to be active in the metaverse? What pitfalls does the European General Data Protection Regulation (GDPR) hold in store? What data from virtual worlds can be used for personalised advertising?
- Do the legal requirements for online shops and contracting in the metaverse differ from those of the Web 2.0?
- What innovative advertising strategies, for example using AI, are allowed in the metaverse? What are the key issues when using augmented reality?
- What tax treatment applies to the sale of goods and services in the metaverse?
- Topic New Work: What special features of labour and liability law apply to the deployment of employees in the metaverse? Are companies allowed to employ staff in the metaverse and what social security contributions are payable?
- What needs to be considered when using AI and digital twins? What applies when contracts are mapped and automated on the blockchain by means of "smart contracts"?
- Are there any restrictions on the construction of virtual buildings and might I really have to demolish a building again because it violates German neighbourhood law?
- How can companies or private individuals protect themselves from the actions of third parties? Is there any protection under criminal law?
- What are the requirements for providing and trading virtual assets such as Non-Fungible Tokens (NFTs)?
AI is a major driver of the metaverse and will speed up its development. For example, AI could provide support for designing new digital worlds and help to make completely new and different experiences possible in the virtual space (for example at events such as live shopping in the metaverse). AI is therefore not "a nail in the coffin" for the metaverse, but rather a "catalyst" for its development.
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