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Digital immersive experiences are becoming increasingly popular with users of all ages and backgrounds. These experiences take place in a virtual world: the “metaverse”. The term metaverse refers to a three-dimensional version of the Internet where users can access virtual stores, branded items, and immersive experiences such as concerts, sporting events, classes, and more through a virtual reality headset.
As a brilliant emerging technology, Metaverse creates financial opportunities by addressing complex legal issues. With the rise of NFT technologies and amateur and professional gaming, consumers in the digital space are looking for real, digital or both branded luxury goods. For example, creating virtual “costumes” for digital characters or avatars combined with real-world products is an effective marketing tool for brands. However, these new technologies are forcing brand owners to implement registration and enforcement strategies to protect their intellectual property rights in the Metaverse.
Real world goods and services with digital counterparts
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