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While much public ado has been made about the metaverse, ambiguities surrounding the nascent space have left many consumers with questions about just exactly what the metaverse is, and how it can benefit them. No matter the case, the novel virtual world is clearly on the rise; the metaverse market is anticipated to grow at a rapid 41.7 percent CAGR until 2028, when it’s forecasted to reach an impressive $828.95 billion valuation.
Still, as the metaverse works toward fulfilling its lofty financial potential, numerous uncertainties surrounding its infrastructure must be addressed, and subsequently amended, along the way. With new technologies and innovations necessary to bring the metaverse toward its full potential, one age-old trade of the tangible world will see a necessitated shift to the metaverse in turn: legal practice.
As a renowned lawyer and futurist in Los Angeles, Charles Lew and his eponymous firm, The Lew Firm, is pioneering the ‘digital’ legal presence into the metaverse. Lew aims to help navigate L.A. businesses through all the legal turmoil the metaverse is sure to bring while guiding them towards fiscal prosperity in the process. Considering transactions are anticipated to be an integral part of the metaverse, made evident by the continual multi-million dollar purchases of virtual plots of land inside the space, requisite ownership contracts are bound to follow in turn. As the legalities of the metaverse remain shrouded in mystery, consumers desiring to make the most of the metaverse will require a trustworthy legal professional in their court – a role Lew intends to take on to the fullest.
“The metaverse is a new
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