The metaverse and non-fungible tokens (NFTs) may be perceived as being used solely for entertainment and frivolity, but the technologies are about more than video games and multi-million dollar pieces of art. By viewing the metaverse as the next step in online interaction and NFTs as the place through which to personalize the online experience, it is possible to understand the demand for unique and authenticated digital assets. As with all technologies gaining commercial momentum, there are legal and business issues to consider in the metaverse heading into the new year.

• Understanding the intellectual property rights of NFTs: The development, sale and use of NFTs are intertwined with intellectual property rights. The person or company that “coins” (or manufactures) the NFT must…