Why law firms should be investing in the metaverse

We recently saw the Formula 1 team, Williams Racing, and comedian Kevin Hart collaborate with Virtua to help them with their strategy to enter the metaverse.
The way the world is shaping up, it will be no surprise if society ends up running synonymously on both the physical and virtual plains. As this new phenomenon grows in its utility and popularity, other enterprises such as financial institutions, real estate firms, non-governmental organisations and retailers are all pressing ahead to carve out their respective pathways of entry.

It seems now the legal sector is also preparing to take action, with Singapore’s Second Minister for Law, Edwin Tong, recently acknowledging at the TechLaw Fest 2022 that the likes of marriages, dispute resolution and government services are likely to be offered in the metaverse.

What the rise of the metaverse means for the legal sector
The legal sector has had to evolve and adapt to the meteoric rise of social media and gaming platforms over the past two decades.
Back in 2019, the ‘Twibel’ case between Sally Bercow and Lord McAlpine demonstrated social media’s capability in triggering legal cases of a vast proportion, with Mrs Bercow ordered to pay large damages for a defamatory tweet.
It is now standard practice for legislation to include extensive stipulations around the admissibility of social media materials as evidence in court, with issues such as proof of content, authenticity and authorship often core components of both the prosecution and defence’s cases.

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