Just Buy It: Nike is hoping to bring sneaker enthusiasts to the meta world.

If you nod your head today, you can see a lot of people are wearing Nike sneakers. Nike reported annual sales of $ 44.5 billion, up 19%, for the fiscal year ending May 31, 2021. But that's in the real world. What to do in the meta world?

Why Nike wants to enter the meta world

For those unfamiliar with this concept, the easiest (albeit unspecified) way to understand the Metaverse is to imagine yourself immersed in a copy of the real game. Nike has joined the sport to provide great data.

I don't blame. Nike uses a very heavy Metaverse.

A patent dating back to 2018 indicates that Nike plans to market in the meta-space. These digital devices include sneakers, digital avatars, and other virtual names. Of course, Nike plans to sell digital products (and you'll buy them because Nike is known to sell these doors), but meta-campaigns are being developed across the digital world.

Is it just the expansion of the virtual world of Nike? Sure, but it would be nice if you chose to define it as generating new income, like Nike has done in the past. Someone will be running fashion in the meta world, and that person will most likely be Nike.

The Meta Universe will set new rules for Nike

Nike should be prepared for any major electrical hazard. In a world of time and space, Nike recently filed a number of intellectual property (IP) lawsuits. However, in the metacosm, cloning would go beyond our current understanding of legitimacy. The price of Nike's meta-weapon will be affected, and hackers in the eyes of society may act in the eyes of others.

In the real world, forest elephants are exposed to aggression from speeding dwarves. In short, the Brooklyn art group Mschf bought Warhol the first painting for $ 20,000, creating exactly 999 replicas. He then mixed the counterfeit and the original and sold the 1,000 "probably real" Warhol coins for $ 250 each, for a total value of $ 250,000 (including $ 230,000 in revenue).

The same is happening in the meta world. Some Nike products may rarely be true, some may be real, and some may be advertised or disguised as fakes.

Meta Edge is also new to the field.

Samir Patel, Miami lawyer and elected member of the Miami Dade Cryptocurrency task force, recently tweeted about how the court would solve the problem:

“Policymakers have no knowledge of blockchain technology. Decision makers who think their design has crossed the line don't think so. Decision-makers decide as they know, not what you know.

—Samir Patel (SamirPtelLaw) 26 October 2021

I spoke to Patel about the veracity of this change and it will be a serious conclusion when the judge finds that pre-existing laws are more relevant than the judge's aid. As Patel said:

"Legal provisions such as property rights, breach of contract and breach of contract will restrict the Metaverse (MV) relationship."

In fact, few judges (and very few lawyers) have used or even heard the unique term “meatspace”. The word refers to the physical world, not a virtual environment such as cyberspace or metaspace.

So, the metaverse argument should be made easy for the judges, at least in the first place, in the traditional language so that the judges are not lost.

Can Nike help develop a legal framework for the meta world?

Patel sees an opportunity. “Nike has the ability to train judges on a trial basis because they can pay attorney fees to defer litigation, but other small claims tell judges that the virtual device they have is a registry on the ground. You'll be hard pressed to tell yourself it's in the Blockchain Maintenance Center, ”he said.

Patel explained that buying virtual land on the Metaverse could allow a judge to treat the business as a sale rather than a real estate exchange. Since the law does not include or allow the concept of virtual property, such virtual land cannot be registered in the virtual real estate application because the list does not exist in the determination of the city or town. the sovereign state.

“So if Nike sells sneaker information incorrectly, but doesn't deliver the sneakers to the buyer, it's a breach of the sales contract,” Patel explained.

This is a difficult question for judges in practice, as there is no evidence that the contract was signed on the metaverse, like the oral contract signed by two lies. So how does a judge judge a party to a dispute? It is like completing an oral contract in a real place. If a party can prove the reliability of the oral agreement in the meta-space based on the actual location, then there may be evidence to support the claimant's claim.

Judging in the meta world can be as easy as it is in the real world.

And there will be a lot of controversy. Assuming Nike believes their work has been altered in the real world without permission, and the defendant in the Nike lawsuit has boldly responded that the alteration is art, not theft of property. We can imagine everything that would happen in the meta world. As Patel points out:

"Legal knowledge will be tested on the metaverse."

He added, “This is because functions derived from intellectual property are not protected by US law. So if I put artificial intelligence in the metaverse and the intellect creates cool stuff, my derivative work right sucks, and the rest of us won't practice. And battle for your own copyright It will be very difficult to protect the law because the metaverse has come "The problem can be very serious and the authors can be a place where wise judges will use the real law to solve these problems. We let's solve the problem. "

That way, the only way to change the way judges see and decide on metaverse issues is to change the existing rules for VR. Without this change, like the judge, everything is real space and virtual reality does not legally exist.

As Patel pointed out, the legal truth is that "Nike employs lawyers who are knowledgeable in real estate, corporate marketing law, and blockchain technology."

The metaverse would be very beautiful from a social, economic and legal point of view, as it offered a new virtual world the possibility of creating, selling, buying and pursuing. Nike plans to build, sell and continue in this new facility. This means that you should be ready to take on the realities of the meta world that will soon appear on your computer or cell phone.