US firm Loeb & Loeb has hired crypto expert Gian Pastore as its Web 3.0 manager, a newly created position to help support clients and the firm with blockchain and Web 3.0-related projects.

Pastore joins the firm in its Los Angeles headquarters from US software company MarkMonitor, where he was a domain portfolio advisor. He brings with him non-legal technical experience in cryptocurrencies, NFTs, blockchain domains and the metaverse. Pastore will advise clients on a range of Web 3.0 issues including setting up and maintaining digital wallets, acquiring and managing blockchain domains, advising on tech aspects of NFT issues and cryptocurrencies and providing guidance on how to buy land and launch events in the metaverse.

Melanie Howard, chair of Loeb & Loeb’s intellectual property and luxury brands practices, said: “Given Loeb’s practice platform, we are uniquely suited to advise clients on all manner of Web 3.0 issues, and are already actively supporting clients across numerous industries on this topic. The addition of Gian amplifies the services we are able to offer our clients and evidences our commitment to continue to be a leader in this space.”

Pastore was at MarkMonitor for just under a year, having previously worked as a project manager at network technology provider CISSDM, as well as other non-legal roles. He has a background in computer software engineering.

He said: “While this is a budding industry, Loeb & Loeb is a cutting edge firm with the foundation in place to lead the field.”

Other firms have also been stepping up their Web 3.0-related innovation. Last month Gleiss Lutz became the first German law firm to secure a land site in Decentraland – an Ethereum-based 3D metaverse where users can buy and sell plots of land – where the firm is opening a virtual office.

In February, Arent Fox Schiff became the first major US firm to enter the metaverse after also buying a site in Decentraland. Other firms with land plots in Decentraland include Rose Law Group and personal injury lawyers Grungo Colarulo.

The global metaverse economy could be worth as much $13tr by 2030, potentially attracting more than five billion users, according to Citibank.