One of our firm’s New Year’s resolutions is to continue to explore and incorporate innovative technologies that make our practice more efficient and effective. To that end, we have decided to start 2022 by traversing what many are calling the next great iteration of the internet – the metaverse.
If you’re anything like us, you are probably a little (or very) confused about what the metaverse is, and it’s tempting to brush it off as another passing fad. But, the reality is that while you’re reading this newsletter people are buying up plots of land in digital universes (for six and even seven figures) and major companies are investing billions into these spaces. As New York City real estate attorneys, it’s hard to imagine crazier marketplaces than the one we work in, but if there is one out there this might be it. Moreover, as our clients start to gravitate into these new spaces, and begin transacting business in these new forms, as their advisors, we believe that it’s vital for us to understand how these worlds operate. Plus, the whole thing seems kind of fun. Accordingly, we plan to spend the next few weeks diving into this new digital universe and sharing what we find.
Here’s the plan: over the next few weeks, we are going to figure out how to purchase real estate in the metaverse and open up a branch of BFKP Law in one of these virtual spaces. What does that mean? Is that even possible? How long will this take? At this point your guess is as good as ours, but we’re excited to take on the challenge and find the experts who can help us navigate through this strange new world.