The metaverse and beyond

Legal insight from our global technology lawyers

The term “metaverse” was coined in 1993 by American writer Neal Stephenson in his sci-fi novel Snow Crash. The novel depicts a world where people navigate seamlessly between the physical world and rich virtual experiences. That future is here although its exact nature is still evolving. And while the metaverse brings opportunities and benefits to businesses and people alike, it also brings many challenges and risks.

The metaverse is described by experts as the next iteration of the internet and like the internet will manifest as many different things all at once. For example, the consumer metaverse includes simulated virtual and 3D worlds where people can interact through digital avatars. Its importance is centered around a persistent and immersive shared environment where people can connect regardless of physical location.

It is a place where people can buy and sell products and services, learn, be entertained, communicate, exercise and run businesses. Additionally, the industrial metaverse is comprised of virtual worlds where digital twins of cities, transportation systems, airports, factories grids, and much more mirror their counterparts in the physical world.

There is a growing focus on the issues and risks businesses need to be aware of as this technology evolves. In our new guide to the metaverse, Eversheds Sutherland identifies key legal issues raised around governance, cyber security and data protection, digital assets and IP, safety, managing disputes, and more.