Legality of NFTS, Web 3.0, Cryptocurrency & Metaverse

Abstract

In recent times, the use of words like NFTs, Cryptocurrency, Web 3.0, and Metaverse is all the rage. There is a hype that is generated around them, and many businesses are taking a leap by evolving their business strategy to capture these technologies into the products and services they provide. With this increasing trend and developments, the law must evolve and evaluate its position on how to cater to this need. But before we even reach that question, there is a need to understand the intricacies of these technologies and what they really mean. Then a structured plan needs to be made on how to respond to these changes and how the judiciary can analyze the implications of these technologies. Based on this proposition this paper will try to answer the fundamental question of the impact that these technologies can bring in various fields of law like privacy, contracts, intellectual property, and others.

Keywords: NFT, Cryptocurrency, Meta-verse, Web 3.0, Legality, comparative analysis