Why Lawyers Should Know About the Metaverse

David interviews Nick Abrahams, the global co-leader of the digital transformation practice of Norton Rose Fulbright and the Co-founder of LawPath.

They talk about the blockchain, NFTs, crypto and the metaverse and how that is relevant to lawyers today. People are making huge investments into the virtual land, driving demand for architects and designers, as we continue to develop the future of the metaverse for not only gaming and social platforms, but for businesses to interact with their clients in the virtual world.

Why would this be so relevant to law firms and legal professionals? As virtual interactions and transactions may be more prominent in the future, law firms must think about how this would impact their clients, for example, smart contracts, tokens and security laws. Nick highly recommends younger lawyers to have a great understanding of the metaverse, to build a reputation and network as a way to stay ahead of the competition. Is there a metaverse dispute solution? Are there other ways to document private transactions? Would we be requiring lawyers and law firms for these ‘virtual’ legal matters in the metaverse?

Watch the video to learn more about the future of law firms in the metaverse.