Creating the Metaverse: Consequences for Economy, Society, and Law

Abstract

Objective : to define the degree of influence of such developing technological field as metaverse on various spheres of society and to identify the need for reaction on the part of law. Methods : the key method used for the research is the systemic-structural method, which allows establishing connections between various elements of the society as a complex system, analyzing the regularities generated by the spreading influence of metaverse prototypes in one sphere on other ones. Additional methods used are formal-logical, comparative-legal methods, as well as the methods of legal modeling and forecasting. Results : the practical implementation of the metaverse concept will open new opportunities for people, but will be accompanied by drastic changes in the economic subsystem of the society, in particular, the multifold growth of the share of virtual economy and structural changes in employment. The changes will also occur in the social subsystem: the social links and the education models will transform, new personal demands will occur. Changes in the economic and social spheres will entail the need to adapt law to them, in order to preserve the effective legal regulation of social relations. Also, it should be noted that the metaverse will increase the capabilities of not only people but also the artificial intelligence, for which virtual environment is actually the “natural” one. Legal norms must provide protection of a human under the increased virtual component in people’s lives, accompanied by intellectualization of the environment. Scientific novelty : the author has systematically analyzed the changes taking place in various spheres of the modern society in connection with the development of the technological field of metaverses; highlighted the key issues arising due to the said development and requiring legal solution both at the constitutional level and at the level of sector legislation; and proposed the necessary changes in legal regulation. Practical significance : the research materials can be used when preparing proposals on changes and amendments in the current legislation, as well as in pedagogical activity, in particular, for implementation of educational courses or modules related to law under digital transformation of the society.