We speak to a panel of experts about their experiences of the metaverse so far; the opportunities for the legal sector; and the regulatory pitfalls to be aware of.
Much has been written about the metaverse and yet for many in the legal sector, it is still very much a buzzword, with little clarity on whether the virtual world represents real commercial opportunities or is yet another way to waste valuable time.
In this podcast, Legal IT Insider editor in chief Caroline Hill and Legal Practice Intelligence founder and editor David Woolstencroft spoke with metaverse adviser Gregor Pryor, who is a partner and co-chair of Reed Smith’s Entertainment and Media Industry Group, and Dan Jasnow, a Washington based regulatory attorney at ArentFox Schiff, which has become the first major US law firm to enter the metaverse by acquiring a land site in Decentraland. Reed Smith’s 2021 guide to the metaverse, in which Pryor advises on some of the threats and opportunities for the music business, has become one of the definitive papers to date.
We asked Pryor and Jasnow to share their knowledge and experiences to date, and we discuss some of the commercial applications for legal organisations, as well as what they need to be aware in terms of protecting their intellectual property.