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As a new feature for the C.H.A.T. newsletter, we will be covering various technology issues trending in our technology and cybersecurity practices.
Metaverse: The metaverse is a set of 3D virtual spaces augmented by reality, where people in the physical world can have an immersive experience in a virtual world and interact with virtual objects and avatars of other people by using headsets, microphones, motion-sensing controllers and other technology. As a writer for WIRED puts it, "Mentally replace the phrase 'the metaverse' in a sentence with 'cyberspace.'" Coined back in 1992 in a science fiction novel called Snow Crash, the word "metaverse," a portmanteau of "meta" and "universe," has been used in the online multimedia platform called Second Life since 2003 and has been adopted by the online gaming community. Of late, the metaverse is gaining economic popularity with popular consumer brands, including apparel and footwear, beverages, financial institutions and service providers, which have been making forays into the use of cryptocurrency and digital tokens for trading property and services in the metaverse. Day Pitney's technology lawyers are currently advising clients that are considering a presence in the metaverse and analyzing in particular what the implications are for trademark and brand protection, privacy and cybersecurity, and contracts and contractual liabilities with respect to virtual trades using digital assets such as cryptocurrency and non-fungible tokens.
Feel free to submit any recommendations for future TECH talk subjects to Kritika Bharadwaj, a member of Day Pitney's Technology practice group, at kbharadwaj@daypitney.com, or William "Bill" Roberts, co-chair of Day Pitney's Privacy and Cybersecurity practice group, at wroberts@daypitney.com.
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