Facebook recently rebranded itself as Meta and announced that it will pivot towards dominating the metaverse, a shared virtual world. The pitch is that the metaverse is like the American Old West: virgin territory, unregulated and unexplored, ready to be exploited by the brave and the bold.
This portrayal is just as misleading and romanticised as a John Wayne movie. The metaverse is not a new idea and it does not need to be unregulated. The claims that law needs to change fundamentally to adapt to the metaverse are misguided and belie a misunderstanding of what law is and how it works.
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