Metaverse – Fin Tech – Japan
AM
Anderson Mori & Tomotsune
In recent years, interest in the “metaverse” and in “virtual space” has taken off, and with the arrival of Web 3.0 era blockchain technology, the economic prospects of businesses located in the virtual domain are attracting global attention.
Japan
Technology
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In recent years, interest in the “metaverse” and in
“virtual space” has taken off, and with the arrival of
Web 3.0 era blockchain technology, the economic prospects of
businesses located in the virtual domain are attracting global
attention. This is largely due to the dramatic improvements
achieved in VR and terminal processing power, beginning with
“Second Life” in the late 2000s, to advances made in
software development, including the enhancement of user
communication functions using avatars, and to an increase in user
volumes during the Corona crisis. Further growth in virtual user
populations and economic activities is expected in the future.
The legal ramifications of the metaverse revolution, however,
have yet to be fully understood.
In light of this situation, AMT has recently formed a Metaverse
Legal Research Group, the goal of which is to explore legal issues
related to the metaverse and the virtual information space from a
multifaceted perspective. This multidisciplinary approach allows
our legal experts to use conceptual tools drawn from intellectual
property law, data protection law, e-commerce law, financial
regulatory law, and tax law, and to provide our clients with legal
advice formulated in light of the latest trends.
Many of the participants in this Research Group are also members
of the Working Group of the Japan Federation for Digital Spatial
Economy, including Ken Kawai, one of the Federation’s auditors,
and together this team of experts are in constant discussion with
many participating businesses on policy proposals and the
formulation of guidelines regarding legal issues surrounding
metaverse.
On this page we will be providing our readers with regular
updates on domestic and international developments in this field
¬¬– the fruits of analysis of our Metaverse Legal
Affairs Research Group – including information on related
seminars and newsletters published by our firm. Please stay
tuned!
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The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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