The last few months have seen a handful of law firms, both small and large, showing interest in opening offices in the metaverse. While some are jumping in headfirst and buying virtual land, others are dipping their toes more cautiously by leasing the property from other attorneys short-term.

Still, taking into account how nascent the metaverse—and the technology it’s underpinned by, nonfungible tokens (NFTs) and the blockchain—are, all entrants at this stage are delving into a world without a clear regulatory framework, under a foundation that does not parallel real estate in the physical world, but rather operates under contract law.