Gleiss Lutz opens office in the Metaverse
Virtual venture will be led by Stuttgart partner Eric Wagner and target new opportunities in the largely unregulated digital environment
Gleiss Lutz has become the first German law firm to secure a land site in Decentraland to open an office in the Metaverse.
The office will be led by Stuttgart partner Eric Wagner, who co-leads the firm’s legal tech department.
By opening in the Metaverse, Gleiss Lutz said it hopes to become better equipped to tackle the range of complex legal issues likely to arise out of the space’s lack of comprehensive regulation.
The office will also allow the firm to expand its thought leadership on issues including legal tech, digital futures and ESG, it said.
Michael Arnold, Gleiss Lutz’s co-managing partner, said the office launch “fits seamlessly” into the firm’s strategy.
“We want to be accessible to our clients now and in the future, especially in this rapidly changing commercial environment," he said.
Arnold’s co-managing partner, Alexander Schwarz, added: “The metaverse has a big future. By opening an office in the metaverse, we are demonstrating our commitment to being part of this new, virtual world.”
As more and more businesses set up shop in the virtual world, more law firms could follow suit and launch an offering in the Metaverse to take advantage of the opportunities presented by the largely unregulated digital environment.
Early adopters include ArentFox Schiff, which this year became the first major US law firm to enter the Metaverse when it purchased a Decentraland site in February. Previously, the firm advised PwC on its own entry into the Metaverse, a move that made the professional services giant the first company of its kind to open in the digital world.
New Jersey-based personal injury firm Grungo Colarulo also opened an office in the Metaverse in December.
Besides law firms, the list of companies open for businesses in the Metaverse keeps getting longer – it currently includes the likes of JP Morgan, Samsung, HSBC and Adidas, among others.