The Legal System of Transactions and the Challenges of the Metaverse World in accordance with UAE Law

Abstract

The world has undergone important technological transformations, making commercial transactions move from normal to electronic and linked to the real world. Still, the new generation of the Internet led to the emergence of the Metaverse world, which attracted many companies and governments, including the UAE, to pay attention to and invest in it. It is based on the use of Blockchain and Artificial Intelligence. This has affected the commercial activities of companies, as it has made contracts done smartly. Its subject will be non-fungible tokens, which is the subject of the study that emphasized the leadership of the UAE government and companies in its interest in the technologies of the Fourth Industrial Revolution and the world of Metaverse and its legislative exclusivity in regulating virtual assets and encrypted tokens and the intelligent agent, but that remains insufficient to control transactions in the Metaverse world.