What is the way the Law regulates our daily lives in the Metaverse? Are we invited to the celebrations of weddings or divorces between avatars? Do we have executors who will ensure our virtual heritage is protected? Many questions, but not enough certainty. We continue to learn stories about the Metaverses; the only certainty we have is uncertain. The universe is still just beginning its creation. It is still a mystery its notion of connection, the relationship between different platforms, or the way to create continuity in a world that is not yet an unambiguous connection of galaxy clusters or even planets. From the viewpoint of Law, it appears to be a connection with the issues posed by International Law and the Internal Law of the jurisdictions.
The Law or Code for Metaverse
When we see the Metaverse as just a space for interaction, we don’t typically question the nature of the Law or how the rules and regulations imposed by the platform impact us. This initial view is not sufficient for a universe with its economy. There are already several private firms that have made their home within virtual reality. Additionally, public institutions have declared their presence in this virtual world without limitations; however, with an enormous legal gap. It was initially sufficient to think about the rules for each virtual space. However, today many questions aren’t answered.
DAOs (Decentralized autonomous organizations) are an innovative tool for organizing based on smart contracts. Some contracts in which, before that, the rules, instructions, and guidelines that govern the rules for the DAO for all its members were programmed. The significant advantage of DAOs is that they permit the participation of the government and economic sectors by the owners of the tokens that they issue. Specific experts think this democratization can create some of the rules or various “jurisdictions” of action. The obvious thing is that users should be adequately informed and comprehend that the rules aren’t identical for every platform.
Weddings, Divorces, and Metaverses
As I said earlier, the development of so-called Metaverses is still very early, and we must wait. To function across all platforms, you must identify users, demonstrate the potential requirements of “KYC – Know your customer,” and utilize various networks. In this regard, one of the biggest problems is finding the solution that can allow each of these spaces to become united. An individual user will allow us to manage the identities of all these different identities.
One of the latest trends was the development of fake wedding websites. In this manner, it is possible that soon weddings among avatars could be combined as entertainment without establishing obligations or rights and even creating links inside the platforms. We should also be aware of the potential marital property law and divorce if this is a possibility. In certain countries, like Mexico, there are proposals for virtual weddings. This makes us contemplate the possibility of weddings in the realm of Metaverses where cyber-friends are invited to join in the fun. We also have to contemplate the potential for the emergence of companies connected to the wedding industry (florists catering, wedding invitations, etc.).
The Fundamental Right of Avatar
What’s happening causes us to believe that the interactions in the Metaverses have legal implications both within and outside of it. It is more than just an experience for users on a digital scale. It is also a part of an economic world of crypto in which content is produced, and rules are formulated regarding rights and the earnings of the content.
The person behind the Avatar enjoys fundamental rights to be considered, for example, privacy, personal information, and many more. It makes us question the position of the Avatar in different ways and consider some questions. For instance, the Avatar is, in contrast to the user, is as long-lived, just like technology. So, we need to ask whether this data is appropriate to include in wills or how useful it is to create a document of the virtual assets.
Economic Value Metaverses
The material produced in the Metaverse has an economic value similar to what occurs in the real world. It is part of the inheritance heritage. Therefore, access to passwords is regarded as or even the potential role of an executor, who will protect all the virtual heritage. Additionally, the factors to be considered in selecting a suitable jurisdiction are crucial if the location of the assets is unclear. It is also possible to consider incorporating these assets during a divorce or similar situation as marital property owned by the couple. Many everyday scenarios can be made into virtual worlds.
The myriad of possibilities we’ve been describing underscores the necessity for a deep examination of the role of Law in the Metaverse. I am aware that this new universe has led to questions about the answer to various problems and the creation of a brand new framework that can be applied to this new and challenging space. There are high expectations for the creation of this new tool. However, there are also problems. Most importantly, this is due to the threat of a giant like Meta with millions of users across the globe.