Opportunities, Risks and Strategies In the Metaverse

From the dot-com era, to social media and mobile, forward-looking brands have sought to stay ahead of the curve and equip themselves for success in the next Internet age. Today, that means readying for the "metaverse" — a still largely undefined virtual environment where users (and brands) can interact with each other across immersive platforms and move seamlessly from one activity to another. Well-known brand owners are taking strikingly different approaches to this new environment — some jumping in and acquiring virtual real estate or partnering with avant-garde creators and platforms; some participating tepidly with limited releases; and others not participating at all. While it is still unknown how the metaverse will take shape lawyers advising brands should familiarize themselves with the opportunities it presents, the risks involved, and strategies to consider for enhancing and protecting a client's brand.