Entrepreneurs must learn to address business risks in the Metaverse

As much hyped as it is, the Metaverse remains largely undefined. It is a challenge to answer the question “What is the metaverse?” partly because its definition depends on who you ask. As it stands today, the “Metaverse” includes virtual reality and what we might previously have called “cyberspace,” including digital assets like non-fungible tokens (NFTs), cryptocurrencies, and more.

In the rush to be early adopters of metaverse technology, companies are de-prioritizing risk management. But risk management is just as critical in the Metaverse as it is in our physical world: all risks are linked and must be managed in a connected way. If new entrants to the Metaverse are to protect themselves against the overwhelming scale and cost of cyber risks, they must learn to identify these…