Can you truly own anything in the metaverse? Not really, says a law professor
In 2021, an investment firmbought 2,000 acres of real estatefor about US$4 million. Normally this would not make headlines, but in this case the land was virtual. It existed only in ametaverseplatform calledThe Sandbox. By buying 792non-fungible tokenson theEthereum blockchain, the firmthen ownedthe equivalent of 1,200 city blocks. It turns out that legal ownership in the metaverse is not that simple. Despite these claims, the legal status of virtual owners is significantly more complicated....