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A metaverse, being a virtual reality world where users can interact with people and objects and immerse in multi-sensory experiences of sight and sound, is not new, but has come to the fore in our daily lives. The fast evolution of the metaverse ecosystem has been brought about by a convergence of factors – (1) the social isolation due to the COVID-19 pandemic has brought more people and businesses online, (2) the advancements in distributed ledger technologies like blockchain have led to an explosion in growth and value of digital assets such as cryptocurrencies and non-fungible tokens, and (3) more goods and services are being distributed and consumed on digital channels.
As metaverses become more mainstream and as more people interact and engage in different activities in metaverses, Ch’ng Li-Ling, Partner and Head of Financial Services (Regulatory) Practice, RHTLaw Asia LLP, will examine how concepts of law and business are evolving to apply to life in the metaverse:
Pang Ti Wee, Managing Director, RHT DigiCapital, will highlight the potential future and risks in digital assets, and share his insights on: