“There can be no doubt that from a business perspective, the metaverse is now a critically important consideration and influence. People exist there and there is money to be had,” is how law firm Reed Smith introduces its latest report. It’s exploring the burgeoning games, virtual and augmented reality industries, and the legal issues that they raise.
Music gets its own section. “Mostly, the traditional legal and licensing rules applicable to online exploitation apply equally in the metaverse,” writes Reed Smith’s Gregor Pryor. “However, the proliferation of music, performance, and exploitation within new, closed, or even open online environments adds yet another potential layer of complexity to an already complex chain of rights in the music licensing process.” He goes on to outline why there are plenty of opportunities in this, rather than just legal headaches. You can download the report for free here.
