Since the summer, it seems like NFTs, blockchain, and the metaverse have just been everywhere. Searches for all of these things are up, way up, and more people are looking for new applications for this not-entirely new technology group. And although we’ve been doing a lot of exploration of how virtual real estate is moving… Read More »
In 2021, an investment firm bought 2,000 acres of real estate for about US$4 million. Normally this would not make headlines, but in this case the land was virtual. It existed only in a metaverse platform called The Sandbox. By buying 792 non-fungible tokens on the Ethereum blockchain, the firm then owned the equivalent of… Read More »
But did it? It turns out that legal ownership in the metaverse is not that simple. The prevailing but legally problematic narrative among crypto enthusiasts is that NFTs allow true ownership of digital items in the metaverse for two reasons: decentralization and interoperability. These two technological features have led some to claim that tokens provide indisputable… Read More »