First Biglaw Agency To Purchase Critical Property In The Metaverse

The smart city of cyberspace and metaverse digital data of futuristic and technology, Internet and big data of cloud computing, 5g connection data analysis background concept. 3d renderingHear, full disclosure — I’m not bought on the metaverse but. The commercials are a bizarre, uncanny valley and after two years and counting of pandemic-induced isolation, I’m able to be the place the individuals are, not the place their avatars are. However, man, the artist previously referred to as Fb is certain pushing the hell out of it.

And a Biglaw agency has bitten. Arent Fox has introduced the agency has bought digital land within the metaverse and is constructing a digital workplace in Decentraland. The agency’s crypto chair, James Williams, instructed Regulation.com the digital transfer is designed to reveal to shoppers that Arent Fox understands the brand new, digital world:

“The platforms you hear most about are the gaming platforms. However that’s not the place the long run is. In locations like Sandbox and Decentraland you’re shopping for in places similar to you’ll purchase a Rodeo Drive. You’re attempting to get in early,” stated Williams, including that the thought, at a minimal, is to point out shoppers that you just’re good and accustomed to the metaverse. “We wish to present our shoppers: We all know this world; look, we purchased on this world, and we can assist them navigate this world.”

And even when the long run in *not* within the metaverse, the acquisition nonetheless is sensible for the agency: “[W]e nonetheless have a variety of shoppers transferring to this place now, and we wish to be the place our shoppers are,” Williams stated.

Agency chair Anthony Lupo stated the digital funding has already elevated its worth by 25 p.c and that Arent Fox needs to be a part of deciding how the metaverse can be used:

“There may be a variety of curiosity, however there’s additionally a variety of confusion in regards to the metaverse, partly as a result of no one is aware of what the metaverse is,” stated Lupo. “Arent Fox’s transfer to the metaverse is just not solely symbolic. We’re searching for the answer and really working within the house. We don’t know what the metaverse can be in 5 years, however we’re not ready 5 years to seek out out. We’re going to assist iterate that future.”

Moreover, the metaverse simply would possibly assist with these work-from-home blues:

“We had our partnership assembly final week, and I introduced our buy of an workplace within the metaverse,” stated Lupo. “I joked that once we return to the workplace, those who don’t wish to come again to the work, we’ll put them within the metaverse workplace.”

However the jury continues to be out as as to if this turns into a full-blown Biglaw pattern.


Kathryn Rubino is a Senior Editor at Above the Regulation, host of The Jabot podcast, and co-host of Pondering Like A Lawyer. AtL tipsters are the very best, so please join along with her. Be at liberty to e-mail her with any ideas, questions, or feedback and observe her on Twitter (@Kathryn1).


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