Proceedings of the 3rd International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2022)

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Legal Protection for Virtual Land Trading Investment Transactions in the Metaverse

Authors
Rizki Fitri Amalia1, *
1Universitas Borobudur, East Jakarta, Indonesia
*Corresponding author. Email: kikyherman9@gmail.com
Corresponding Author
Rizki Fitri Amalia
Available Online 25 January 2023.
DOI
10.2991/978-2-494069-93-0_58How to use a DOI?
Keywords
Legal protection; investment; virtual land trade; metaverse
Abstract

The existence of the Metaverse is warming the world as a second life, and one can carry out activities in the virtual world, one of which is buying and selling transactions. Metaverse itself is a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrency to allow users to interact virtually. Metaverse has excellent potential for a person to interact, work, learn and create through NFT (non-fungible tokens) that describe the original object. There has been much attention lately about buying and selling virtual land in the Metaverse. Some investors are willing to spend significant funds to buy virtual land in the form of NFT. Purchased digital plots of land are stored in NFT. This is considered an investment and can be profitable in the future. The use of Virtual Currency has spread widely to all corners of Indonesia. However, at this time, the government has not determined how to formulate written regulations regarding its circulation and supervision, then how to formulate policies and aspects of protection for investors or users in metaverse transactions regarding land and building investment. Virtual currency investments are risky and vulnerable to cybercrime, money laundering, and tax evasion. This study uses a normative research method by reviewing and describing library materials in the form of literature, legislation, and some news related to the issues to be discussed.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
25 January 2023
ISBN
10.2991/978-2-494069-93-0_58
ISSN
2352-5398
DOI
10.2991/978-2-494069-93-0_58How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Rizki Fitri Amalia
PY  - 2023
DA  - 2023/01/25
TI  - Legal Protection for Virtual Land Trading Investment Transactions in the Metaverse
BT  - Proceedings of the 3rd International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2022)
PB  - Atlantis Press
SP  - 488
EP  - 496
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-93-0_58
DO  - 10.2991/978-2-494069-93-0_58
ID  - Amalia2023
ER  -