For many years, the immersive three-dimensional digital world has been left to the cinematic experience. However, the emergence of the metaverse presents an opportunity to translate everyday activities – working, attending a concert, travelling, shopping, socializing – into a parallel digital universe.
The metaverse is an abstract concept that uses a digital environment to permeate the boundaries of our physical world. Instead of reading this article, you could be immersed in it. By utilizing technologies such as virtual reality, augmented reality, and blockchain, the metaverse is able to provide elements such as 3D avatars, digital assets, and various events to support a virtual economy and facilitate social relationships.
While this concept may seem futuristic, certain aspects of the metaverse are already here. Popular examples include a 3D virtual world platform and 3D open world game. We are also seeing major gaming companies developing their own versions of the metaverse.
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Webinar: The Metaverse - Opportunities and challenges for incumbent and new entrant businesses
On Thursday 20 January, we hosted a webinar on the Metaverse, bringing together a panel of industry stakeholders, in-house counsel, a professor of computer science and our antitrust, data and privacy, technology and intellectual property lawyers to consider how the Metaverse will develop, opportunities for business and the legal and regulatory challenges to be navigated.
Watch the recording on demand here.