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Oct. 12, 2022

Metaverse IRL: Are Companies Overlooking the Privacy Risks of NFTs and Crypto Wallets?

  • Matt Fleischer-Black
    Cybersecurity Law Report
In the initial metaverse money chase, companies have adopted two unfamiliar practices to succeed as e-commerce adds a virtual reality branch. By issuing non-fungible tokens and using blockchain wallets to collect payment, companies seek to keep pace with tech and consumer movements – but each practice poses novel, undiscussed privacy risks. This final article in a three-part series about metaverse privacy reveals data compliance hurdles with these two core metaverse business steps. Part one captured current privacy approaches in metaverse dealmaking and development. Part two examined how developers of extended reality products and applications are addressing biometrics laws and other privacy regulations. See “Blockchain Recordkeeping Stirs Privacy Concerns” (Mar. 1, 2022).

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