The Metaverse Mosaic : Exploring Nigeria's Legal and Regulatory Dynamics

Thursday, September 28, 2023

AR/VR is a combination of two terms under the extended reality (XR)[1] umbrella, namely augmented reality (AR) and virtual reality (VR). In virtual reality, technology is used to create three dimensional (3D) simulated environments...

The metaverse and AV/VR have gradually increased in popularity globally,[5] with the technologies becoming more advanced in recent years. Around the world, various stakeholders such as developers, policy experts, human rights groups, governments, and academic institutions are collaborating to responsibly develop the technologies, and Nigeria is not left out of this development as its local talents and stakeholders are also contributing to the growth of the metaverse and AR/VR ecosystem. For example, XR technology has been used by e-commerce platforms in the country to give customers amore immersive experience when using their sites and before making a purchase.[6] The technology is also being deployed in the real estate and education sectors by multiple companies, such as Imisi 3D,which is dedicated to nurturing the Nigerian XR community.

This article offers regulatory guidance for businesses interested in investing in or constructing in the Metaverse.