Metaverse, Non-Fungible Tokens, Trademarks – Legal Aspects

Abstract

The metaverse is a concept of cyberspace built on the existing infrastructure of the Internet using emerging technologies of blockchains, cryptocurrency and non-fungible tokens (NFT). In the metaverse, people and various forms of algorithms and artificial intelligence will interact in virtual reality, buy and sell “real world” and “in the metaverse” goods and services and get into legal disputes just like in real life. Trademark law has a decisive role in the development and protection of the brand in virtual reality. The paper first presents the notion of NFT. Then, the protection of trademark in metaverse is analyzed. Special attention is paid to the European Intellectual Property Office Guidelines from July 2022 on its approach to classifying virtual goods and NFTs. Finally, a case from US judicial practice is presented – Hermes Int’l v. Rothschild. This decision provides useful guidance on how courts will treat this issue in the future.