Relevant: The Only Social Network Built On Trust

"Despite these claims, the legal status of virtual “owners” is significantly more complicated. In fact, the current ownership of metaverse assets is not governed by property law at all, but rather by contract law. As a legal scholar who studies property law, tech policy and legal ownership, I believe that what many companies are calling “ownership” in the metaverse is not the same as ownership in the physical world, and consumers are at risk of being swindled."

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Arak

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@Arak • 2 Years Ago

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"Despite these claims, the legal status of virtual “owners” is significantly more complicated. In fact, the current ownership of metaverse assets is not governed by property law at all, but rather by contract law. As a legal scholar who studies property law, tech policy and legal ownership, I believe that what many companies are calling “ownership” in the metaverse is not the same as ownership in the physical world, and consumers are at risk of being swindled."

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This is true for most NFTs and metaverse items as so many revolve around centralised providers. This will change I think as we see metaverses/NFTs spring up that are backed by decentralised solutions such as IPFS, but for now we seem to be blending Web2 with Web3 with most of these projects. Notable NFTs that are completely on chain (meaning the art is too) would be Crypto punks and Aavegotchis IIRC.

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This is true for most NFTs and metaverse items as so many revolve around centralised providers. This will change I think as we see metaverses/NFTs spring up that are backed by decentralised solutions such as IPFS, but for now we seem to be blending Web2 with Web3 with most of these projects. Notable NFTs that are completely on chain (meaning the art is too) would be Crypto punks and Aavegotchis IIRC.