| Update | Oct 12, 2022 |
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In recent years, interest in the "metaverse" and in "virtual space" has taken off, and with the arrival of Web 3.0 era blockchain technology, the economic prospects of businesses located in the virtual domain are attracting global attention. This is largely due to the dramatic improvements achieved in VR and terminal processing power, beginning with "Second Life" in the late 2000s, to advances made in software development, including the enhancement of user communication functions using avatars, and to an increase in user volumes during the Corona crisis. Further growth in virtual user populations and economic activities is expected in the future.
The legal ramifications of the metaverse revolution, however, have yet to be fully understood.
In light of this situation, AMT has recently formed a Metaverse Legal Research Group, the goal of which is to explore legal issues related to the metaverse and the virtual information space from a multifaceted perspective. This multidisciplinary approach allows our legal experts to use conceptual tools drawn from intellectual property law, data protection law, e-commerce law, financial regulatory law, and tax law, and to provide our clients with legal advice formulated in light of the latest trends.
Many of the participants in this Research Group are also members of the Working Group of the Japan Federation for Digital Spatial Economy, including Ken Kawai, one of the Federation’s auditors, and together this team of experts are in constant discussion with many participating businesses on policy proposals and the formulation of guidelines regarding legal issues surrounding metaverse.
On this page we will be providing our readers with regular updates on domestic and international developments in this field ¬¬– the fruits of analysis of our Metaverse Legal Affairs Research Group – including information on related seminars and newsletters published by our firm. Please stay tuned!
