Meet me in the metaverse: Some companies set up shop in a digital environment

There’s a lot of hope pinned on the metaverse’s future. Citigroup said it could represent a market of between $8 trillion and $13 trillion by 2030, while Goldman Sachs said as much as a third of the global digital market could shift to the metaverse as people increasingly make transactions there.

In metaverse platforms such as Decentraland, where Grinhaus’ firm resides, plots of land are sold as NTFs, or non-fungible tokens — digital assets whose ownership is verified using the blockchain. “If an organization creates an office in the metaverse and they don’t design around some of those things, then it can actually be quite isolating for employees.”

There are similar rules around accepting money, said Grinhaus. His law firm has accepted cryptocurrency since 2016, and identity verification is important for financial transactions no matter the currency, he said.

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