Gleiss Lutz is the first German legal practice to successfully acquire a land site in Decentraland in order to establish a presence in the Metaverse. The office will be headed up by Eric Wagner, a partner in Stuttgart who also co-leads the legal technology area of the company.
Gleiss Lutz has stated that it expects to become better suited to deal with the wide range of complicated legal challenges that are likely to develop as a result of the lack of comprehensive regulation in the sector as a result of opening in the Metaverse. Moreover, the office will also make it possible for the company to develop its thought leadership on topics such as legal tech, digital futures, and ESG.
Michael Arnold, a co-managing partner of Gleiss Lutz, stated that the opening of the new office “fits effortlessly” into the overall plan of the company.
He stated that “we want to be accessible to our clients now and in the future, especially in this fast changing commercial climate.” “We want to be accessible to our clients now and in the future.”
Alexander Schwarz, who is a co-managing partner with Arnold, stated further that “The metaverse has a significant future. We are proving our dedication to being a part of this new, virtual world by establishing a presence in it by constructing an office in the metaverse.”
To take advantage of the opportunities afforded by the largely uncontrolled digital environment, an increasing number of law firms may follow suit and begin offering their services in the Metaverse as the number of enterprises that establish a presence in the virtual world continues to rise.
Early adopters include ArentFox Schiff, which earlier this year made history by becoming the first major legal firm in the United States to enter the Metaverse when it bought a site in the virtual world of Decentraland. Previously, the company had advised PwC on its own entry into the Metaverse, a move that made the professional services behemoth the first company of its sort to open in the digital world. This move was made possible by the fact that the firm advised PwC on its own entry into the Metaverse.
The personal injury law firm Grungo Colarulo, which is based in New Jersey, opened an office in the Metaverse
In addition to legal firms, the list of corporations that are currently open for business in the Metaverse continues to get longer. Some of the organizations that are now on the list include J.P. Morgan, Samsung, HSBC, and Adidas, amongst others.