Legal Protection for Virtual Land Trading Investment Transactions in the Metaverse

Abstract

The existence of the Metaverse is warming the world as a second life, and one can carry out activities in the virtual world, one of which is buying and selling transactions.Metaverse itself is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrency to allow users to interact virtually.Metaverse has excellent potential for a person to interact, work, learn and create through NFT (non-fungible tokens) that describe the original object.There has been much attention lately about buying and selling virtual land in the Metaverse.Some investors are willing to spend significant funds to buy virtual land in the form of NFT.Purchased digital plots of land are stored in NFT.This is considered an investment and can be profitable in the future.The use of Virtual Currency has spread widely to all corners of Indonesia.However, at this time, the government has not determined how to formulate written regulations regarding its circulation and supervision, then how to formulate policies and aspects of protection for investors or users in metaverse transactions regarding land and building investment.Virtual currency investments are risky and vulnerable to cybercrime, money laundering, and tax evasion.This study uses a normative research method by reviewing and describing library materials in the form of literature, legislation, and some news related to the issues to be discussed.