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ARTICLE · 22 MAY 2023

Trademark Law Developments In The Metaverse

Stites & Harbison PLLC
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The Metaverse (or "Web 3.0") provides varying levels of access to three-dimensional environments for various decentralized activities such as gaming, commerce, social media, dissemination...

United StatesIntellectual Property
Patrick M. Torre
Patrick M. Torre
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The Metaverse (or "Web 3.0") provides varying levels of access to three-dimensional environments for various decentralized activities such as gaming, commerce, social media, dissemination of authenticated digital assets such as non-fungible tokens (NFTs) and cryptocurrency, and others. Participants can engage in any number of virtual reality activities and transactions with others at any conceivable virtual location, whether based in reality or in fantasy. Not surprisingly, trademark law has now reached the Metaverse.

Background

Blockchain and NFTS

As background, NFTs are grounded in blockchain technology. Blockchain is a shared database or "ledger" that facilitates the process of recording transactions and tracking assets in a business network. Transactions are expedited by storing a set of rules (termed a smart contract) on the blockchain that is executed automatically. Blockchain is ideal for this functionality because, while all network participants have

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