Continuing relevance of Intellectual Property Rights, Metaverse & NFTs

WITH the increasing presence of technology and artificial intelligence in our lives, we can't ignore the significance of intellectual property rights and assets in areas such as non-fungible tokens (NFTs) and the metaverse.

-  BHARADWAJ JAISHANKAR

Business houses around the world as well as in India have been leveraging their IP assets in the metaverse economy. For example, Disney's partnership with Epic Games to create a "persistent universe" featuring IP assets from Star Wars and Marvel, along with MCM's virtual store, illustrates how brands are expanding into the digital realm. These initiatives demonstrate the potential for traditional retail brands to transition into virtual spaces, using their IP assets to craft new consumer experiences.