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Cryptoknowmics 2022-04-27 13:06:52

Do Trademarks, Copyrights, and Patents Still Hold While in the Metaverse?

Securing intellectual property works as a crucial strategy that eliminates content manipulation. Intellectual property refers to any content that originates from the mind. It, therefore, entails creations such as inventions, symbols, literary works, and many more. IP is guided by a number of lawful rights that ensure that an individual’s content remains protected. The rights and protections include copyrights, patents, and trademarks. These rights ensure that creators can generate financial gain or mainstream recognition from their work. The need to secure IP in the metaverse also stands as a precautionary measure to many. As companies expand their businesses into digital universes, the demand for lawful protection of creations and brands becomes higher. How Trademarks, Patents, and Copyrights Apply in the Metaverse Metaverse worlds function as virtual ecosystems that parallel the real world. Here, users can interact, buy land, play games, and attend events in a virtual space. A recent report suggests that the overall metaverse market was worth more than $30B in 2021. By 2030, the figure is expected to grow at a compounded rate of 39.4%. Features such as AR/VR technologies, decentralization, and virtual economies are major contributors to the metaverse growth. Bearing that in mind, the following piece will help uncover whether patents, trademarks, and copyrights are considered in the current metaverse wave. Trademarks A tradem...

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