Law firm of the future: our journey into the metaverse | Dhawal Reservoir
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You already live in the metaverse, you just don’t know it.
This is the story of how our law firm created an office in the metaverse and what we learned.
The Metaverse is not about VR headsets. It’s not about blockchain and crypto. It’s definitely not about Minecraft and the video games kids play. It is all that and none of that. It’s a philosophy, a vision of the future, a stack of technologies and an attitude.
What is the Metaverse?
First of all, the metaverse is a philosophy and a vision.
We are all increasingly living our lives and seeing the world through our virtual identities. Our carefully curated LinkedIn and Twitter bios often hold more weight in the destiny of our careers than a formal resume. A well-designed website allows people to come see us, learn more about us, and engage with us on their own terms.
We interact with our digital identities with others on the Internet to shape our lives. It shapes our careers, our work, our love lives, our educational prospects and so much more. This is unlikely to change anytime soon. For better or worse, our digital identities shape our physical lives and vice versa.
The Metaverse is an extension of that logic — and this time, with us in the driver’s seat. Today, our identities belong to Microsoft, Facebook, Google and many others. All separated and disconnected from each other. All relying on the creation of addictive algorithms to drain our attention in exchange for their services. Perhaps that’s why we’ve become so pessimistic about technology — our lack of control over our digital identities and presence has created a dystopian internet ruled by a few corporations. The Metaverse fixes this and extends the original promise of the Internet.
In the metaverse, we have our own identity. In the metaverse, we can jump through several worlds with our own identity and have different experiences. These virtual worlds can encompass our professional, professional, romantic, family, spiritual and educational lives. Anyone can even own virtual land and build something useful with it beyond text and images.
Public blockchains will allow us to take our identities and all the data associated with them through virtual worlds. Non-fungible tokens (NFTs) will allow us to own digital assets across worlds and take them with us. This will create powerful network effects across virtual worlds.
You can access this metaverse today, and you don’t have to be a cyberpunk armed with a VR headset. It is still in its infancy at the moment, but as technology catches up to this vision, we will see the hockey stick as growth and adoption. Indeed, KPMG and Citi estimate that nearly $13 trillion in revenue will be made on the metaverse by 2030.
This is the underlying philosophy and vision for the future behind the Metaverse. This also brings us to why we launched an office in this new world.
The Metaverse Office
Renno & Co has become the first law firm in Canada to open an office in the Metaverse.
The heart of our firm has always been to give good legal advice to the builders of tomorrow. We work with visionary entrepreneurs, companies, makers, artists and funds that are building the future. Our customers live in this world. They believe in the vision of what the metaverse will bring over the next few decades. That’s why we decided to build our office in this space.
It started with finding a world in which to build it. We decided to Decentralized – a world that respects many of the principles in which we believe. We leased our land to Metaverse Group (owned by Tokens.com). Next, we brought in designers (aka digital architects) to design and lay out our office. We opened our office on March 2, 2022.
You can come visit us yourself on the top floor of the Tokens.com tower at 67, 33 in Decentraland.
Not much happened at first. Then things started to move. We’ve brought total strangers into our metaverse office curious about what we’re up to. We had potential customers and existing customers eager to say hello and learn more. Still others have come to us in a more traditional way, after hearing about our metaverse office.
One thing was common to these clients: they deeply respected the fact that we spoke their language, inhabited the same world and believed in the same vision of an interconnected future as they did. The builders of tomorrow are dreamers and visionaries, and we want to be by their side. It elevated our relationship from just being “the lawyers” where they watch the clock with each interaction, to take the mythical title of “trusted advisors”.
The metaverse desktop has become more than just a virtual space, but an attitude.
It may seem blurry at first, but for us it means incredible customer retention. This means speaking opportunities and incoming referrals. It means eating the work of big law firms that don’t understand, believe or live this vision. We never get tired of someone saying to us, “I can’t believe I’m saying this, but I really love my lawyers for the first time in my life.”
Imitation or flattery?
Should your practice establish a presence in the metaverse? Not unless you’re willing to embrace the underlying philosophy and the vision for the future it represents.
Builders creating the future in this space can see through someone who understands that vision and those who don’t. You can’t pretend. This means changing your practice to embrace technology, speak the language of your customers, and upgrade systems and processes. It means believing in the vision and philosophy of your customers, not just paying lip service to them being “customer-centric”.
We have changed systems, tools and processes internally to create a company that lives the ethics our customers believe in. Our ultimate recommendation: to embrace the promise of the metaverse, first look within to build the enterprise of the future.
Dhawal Tank is a technologist and leads business development at Renno & Cie. With a decade of work in technology companies in Silicon Valley, Los Angeles and Toronto, he is helping to create a modern law firm to provide excellent legal advice to the builders of tomorrow. You can reach him at [email protected]. Renno & Co is a law firm focused on providing excellent legal advice to builders of tomorrow. With clients in blockchain, software, fintech, digital assets and other emerging technologies, our deep relationships and expertise allow us to provide practical legal advice to help entrepreneurs, businesses, funds and decision makers. to achieve their vision.
The opinions expressed are those of the authors and do not necessarily reflect the views of the author’s firm, its clients, The Lawyer’s Daily, LexisNexis Canada or one of its respective affiliates. This article is for general informational purposes and is not intended to be and should not be considered legal advice.
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