Metaverse: what is it and why should businesses be interested in it?
The metaverse (metauniverse) is a space on the Internet in which people, using their avatars (virtual characters), can move around, communicate with other people and, perhaps most importantly, interact with objects in this virtual world. 
While this sphere is still developing, it can't boast of having a detailed legal regulation.

But now companies are investing millions in the development of their virtual universes, so the AppLaw team has selected several practical examples of their use.
Construction and real estate business
In the metaverse, you can draw a layout of the future building, estimate the necessary components, connect them and look at the building from all sides.

Here you can also choose the design of the premises and "invite" potential buyers and residents from anywhere in the world to evaluate the interior of their future houses. All of it can happen with each of you staying at home and entering the virtual space using VR glasses.
Advertising and promotion
Some companies, instead of creating their own virtual universes, use existing digital spaces and interact with their users. So the Roblox platform, which allows you to develop your virtual objects, provides such opportunities for world leaders in the field of retail, clothing and fashion, sporting goods, and the restaurant business.

Companies create games in which virtual visitors are able to not only look at millions of different goods but also buy them using the Robux virtual currency, which is exchanged for real money.
Purchasing virtual assets
Similar sensations can be experienced in the building simulator Minecraft, where analogs of real buildings and entire territories are created. If you suddenly want to wander around Disneyland or board the Titanic, you can pay for such pleasure using cryptocurrencies.

The advantage of such objects is that they continue to exist in the metaverse even after you go offline, and you can return there at any time.
Need legal advice on transactions in the metaverse using cryptocurrency?

Contact AppLaw experts via email: info@applaw.group
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