NFTs & The Metaverse

Zannes Law strives to work at the forefront of modernization. We work in the Metaverse and find real-world application for NFTs (Non-fungible tokens), which are rapidly becoming revolutionary technologies.

What is the Metaverse?

Millions of people around the world have already experienced metaversal connectivity through online games – Fully realized worlds with user-driven economies that can translate to real- world currency. Players have bought and sold goods for years through real transactions facilitated by game distribution platforms.

The Metaverse aims to become a global realm driven by real people, companies and their assets. Most of us are already on a classical 2D platform like apps or websites. Thanks to burgeoning social technology we can now expand into a 3D network. The entertainment and art industries have a lot of opportunities in the Metaverse.

What will I find in the Metaverse?

• As of now, it exists in blockchain/crypto-currency based games and apps;
• a space that allows global connection for those who are looking for openness and decentralization;
• it is not “just a game”, as it has a growing marketplace for all users with a crypto wallet;
• companies are currently developing different operations like establishing new meeting spaces, a show room, or training modules;
• a plethora of investment opportunities, whether it be a business creating their own platform, or operating in the Metaverse, or assets being sold and traded, and even loaned.

What’s the deal with NFTs anyway?

• It is a unique asset where no two are the same, in contrast to the videos or photos that are duplicated and shared on the internet as we know it now;
• owners, creators and their transactions are traceable on public record;
• creators have access to a global market;
• third-party management of royalties or revenue are not necessary as they are hardcoded into the NFTs allowing automatic transactions directly to the creator.

The digital business experience means a lot of intellectual property concerns including ownership, data protection, content licensing, and risks around crypto assets. It is our pleasure to help with clarifying your rights and responsibilities, while you navigate through the ever-changing market. For a look into how we can help with your digital assets, please visit our IP services page.