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2023 | OriginalPaper | Chapter

Metaverse and Non-fungible Tokens—A Comparative Study

Author : Vikrant Rana

Published in: Comparative Approaches in Law and Policy

Publisher: Springer Nature Singapore

Abstract

The term Metaverse refers to a unified network of virtual worlds enabling multiple users to connect, interact, play games and buy stuffs. In general, the Metaverse is an extensive concept wherein Non-Fungible Tokens may serve an essential concept in the broad ecosystem of Metaverse. In order to comprehensively understand the concepts of Metaverse and NFT’s, it is important to be versed with a few other concepts as well. Before proceeding further with the chapter, few a conceptual and contextual introductions are provided below for better understanding of the Metaverse ecosystem.

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Footnotes
1
Meta, Founder’s Letter, available at https://​about.​fb.​com/​news/​2021/​10/​founders-letter/​ accessed on 22nd December 2022.
 
2
Ibid.
 
3
Bianzino [1].
 
4
Nike by You, available at https://​www.​nike.​com/​in/​nike-by-you accessed on June 20, 2022.
 
5
Starbucks Invites You to Decorate its Iconic White Cup, Starbucks Corporation, (June 20, 2022), https://​stories.​starbucks.​com/​stories/​2014/​starbucks-invites-you-to-decorate-its-iconic-white-cup/​.
 
6
Miller [2].
 
7
Kelly [3].
 
9
Metaverse may be $800 billion market, next tech platform, Bloomberg Professional Services, (June 21, 2022) https://​www.​bloomberg.​com/​professional/​blog/​metaverse-may-be-800-billion-market-next-tech-platform/​.
 
11
Petrov [4].
 
13
Sigalos [5].
 
14
Webster [6].
 
15
Golden [7].
 
16
Bhattacharjee [8].
 
20
Golomb [9].
 
24
Lenihan [10].
 
27
Shen [11].
 
30
Reserve Bank of India’s Notice on Prohibition on dealing in Virtual Currencies, (June 26, 2022), https://​rbidocs.​rbi.​org.​in/​rdocs/​notification/​PDFs/​NOTI15465B741A10​B0E45E896C62A9C8​3AB938F.​PDF.
 
31
Internet and Mobile Association of India v. RBI; WP(C) 528/2018 with WP(C) 373/2018(India).
 
Literature
Metadata
Title
Metaverse and Non-fungible Tokens—A Comparative Study
Author
Vikrant Rana
Copyright Year
2023
Publisher
Springer Nature Singapore
DOI
https://doi.org/10.1007/978-981-99-4460-6_15