“Experts see the metaverse as a huge economic force that has the potential to significantly change the way we live, work and sell in the years to come, with NFTs as a key value driver.”
The principal head, Satoshi, BBO Solicitors, Buki Ogunsakin, said that the government needed to arm itself with knowledge-based on research and come up with reasonable policies for adequate protection due to the complexities of the metaverse, noting that lack of regulations, security and data privacy issues are some of the risks associated with the metaverse and NFTs.
She advised digital artistes and NFT creators to consider the legal aspects such as trademark, copyright, agreement, and licensing to avoid infringement or other sanctions.
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