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

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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.

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But it’s not a guaranteed win just yet. Meta Inc., the parent company of Facebook, has bet big on the metaverse, going so far as to evoke the concept in its new corporate name. If Citigroup’s prediction rings true, Meta will have been in on a developing business from the beginning, but in the meantime, its metaverse-focused division lost US$13.72 billion in 2022.Article content

“We’re pretty comfortable now having virtual meetings and virtual conversations. So I think it’s a natural extension to try to get more human in our virtual experiences,” he said. Lawyers have strict rules to follow. For example, they have an obligation to verify potential clients’ identities before entering into agreements that allow them to give legal advice. There are some digital platforms that enable this, but it’s up to the lawyer to determine whether they’re satisfied that they have confirmed a client’s identity, said Grinhaus, who errs on the side of caution.

“For this to really take off, the problems have to make sense and have to be worth coming together in a virtual environment to solve,” he said.In June, KPMG launched its metaverse collaboration hub for employees and clients in the U.S. and Canada.

 

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