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Architecting The Metaverse: Blockchain And The Financial And Legal Regulatory Challenges Of Virtual Real Estate, James Hutson, Guarango Banerjee, Naresh Kshetri, Kurt Odenwald, Jeremiah Ratican
Architecting The Metaverse: Blockchain And The Financial And Legal Regulatory Challenges Of Virtual Real Estate, James Hutson, Guarango Banerjee, Naresh Kshetri, Kurt Odenwald, Jeremiah Ratican
Faculty Scholarship
There has been disagreement over the value of purchasing space in the metaverse, but many businesses including Nike, The Wendy’s Company, and McDonald’s have jumped in headfirst. While the metaverse land rush has been called an “illusion” given underdeveloped infrastructure, including inadequate software and servers, and the potential opportunities for economic and legal abuse, the “real estate of the future” shows no signs of slowing. While the current virtual space of the metaverse is worth $6.30 billion, that is expected to grow to $84.09 billion by the end of 2028. But the long-term legal and regulatory considerations of capitalizing on …