Though development of the metaverse remains at an early stage, “established and emerging companies are spending millions developing metaverse technologies,” said a Blake Cassels analysis Friday. “No matter what form the metaverse ultimately takes, the law will develop in response,” it said. If the metaverse develops as anticipated, “it will involve the collection of an unprecedented amount of data about users,” it said. Because a user’s access to the metaverse would be through a headset, much more data could be collected “that will give platforms a deeper understanding” of their users’ “thought patterns” and behaviors, it said. “While existing privacy causes of action could be applied in the metaverse, courts or legislatures may seek to create new causes of action,” said the analysis. Could a metaverse operator be liable for negligently failing to prevent a cyberattack that resulted in the compromise of user data? If a metaverse user breaches the privacy of another user, could the platform be liable for failing to prevent the breach? “Time will tell how the law develops in response to these challenges,” said the law firm. “The metaverse, no matter how it develops, will undoubtedly give rise to novel legal questions and issues.”

Lamina1 said registration has opened for the first Open Metaverse Conference (PMC), an event that hopes to bring together leaders, creators and innovators in the metaverse and Web3 “to build a more open and immersive online world.” The two-day event, taking place in person and online, is scheduled for Feb. 8-9 at the Hudson Loft in Los Angeles. Confirmed speakers include Krista Kim, Metaverse artist and co-founder of 0.xyz, and Jeri Ellsworth, CEO, of augmented reality platform Tilt Five.

TCL announced its move into the metaverse Wednesday, saying it’s launching a Halloween campaign on Roblox to let users create their own metaverse experiences and learn about TCL products. The Halloween campaign will launch across TCL social media accounts in multiple markets, the company said, saying it will invite audiences to join #Fun_Tastic Party at the Dream House on Roblox beginning Friday. Participants will choose a personalized Halloween costume for their avatar before exploring a “dream house,” where they will have virtual experiences with TCL technology, the company said.

Williams-Sonoma home design company West Elm launched a virtual world on Roblox that gives users tools and pieces to create and decorate environments for virtual living and socializing, it said Tuesday. West Elm Home Design has a hub with a furniture store, coffee shop and merchandise boutique; in West Elm Neighborhood, users can buy homes and decorate them with West Elm furniture, lighting, garden and accessories, the company said. Users can also collect and wear West Elm-branded T-shirts, hats and bags, it said. The experience includes design challenges, mini games, obstacle courses, selfie picture-taking and hangouts that reward users with tokens, prizes and giveaways. The company will update the Roblox space to reflect changes in the brand’s assortment.

Feature, a Web3 studio and IP licensing company, introduced Friday what it called the first blockchain-enabled streaming device. The three-in-one Feature3 device is billed as offering a streaming service “from world-class creators;” an immersive, real-time social media experience; and a gaming platform designed to bring the metaverse “off the computer and into the living room.” The device allows users to play games, view digital collectibles and art on TV, and engage with friends and community members via application programming interface integrations of popular social networks, it said. The company is working with creators and brands to build metaverse experiences, blockchain-enabled content and “new ways to experience traditional media,” it said.

Collaborations and partnerships were the hallmark of Friday’s opening IFA 2022 keynote by Qualcomm CEO Cristiano Amon, who announced a multiyear agreement with Meta to jointly develop “custom products” leveraging Snapdragon XR chipsets for Meta’s Quest augmented- and virtual-reality platform. Qualcomm has "conviction" that the metaverse will be "the next computing platform, and eventually it's going to be as powerful and as big as the smartphone market," said Amon. Meta's hope "is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce and support jobs for millions of creators and developers,” said CEO Mark Zuckerberg on prerecorded video. The “next phase” of Meta’s partnership with Qualcomm involves “a deeper engineering collaboration at a level that’s a first for both of us,” he said. “Unlike mobile phones, building VR brings novel multidimensional challenges in computing, cost and form factor,” said Zuckerberg. “We’re still at the early stages of the metaverse, and this sort of deep technical integration will help VR move towards being a multifunctional computing platform that will transform how we all connect.” Amon also brought Bose CEO Lila Snyder to the stage to discuss a “broadened collaboration” that will see Bose incorporate Qualcomm voice and music chipsets into future wearables, earbuds and other devices. When Amon asked Snyder to name her favorite Bose device, she answered that it's the product Bose plans for a global debut Wednesday, and that she couldn’t talk about it.

The number of non-fungible token (NFT) transactions will grow globally from 24 million this year to 40 million by 2027 as brands use the metaverse to boost digital growth, said a Monday Juniper Research report. But the research firm cautioned that vendors need to understand “the risks of operating in an unregulated environment.” Vendors that use NFTs could risk “brand damage by association, due to the role NFTs have had in illegal activities, such as money laundering, scams and fraud,” it said. Juniper also noted environmental concerns; the current way transactions are facilitated on the blockchain create “massive energy usage,” it said. Juniper stressed the need for regulators to work with industry bodies to standardize processes with reduced environmental impact and built-in consumer protections. The report predicts metaverse-linked NFTs will be the fastest growing NFT segment over the next five years, growing from 600,000 transactions in 2022 to 9.8 million by 2027 as demand rises for immersive experiences. Consumer-facing businesses should create NFT-based content to meet changing demand from a younger, tech-savvy demographic that’s “more ready to purchase novel forms of online and digital content.”

The metaverse has the potential to become a nearly $750 billion market opportunity by 2030, reported Frost & Sullivan Monday. As the metaverse becomes “an interconnected network of virtual worlds that will eventually become an extension of the real-world economy,” it will enable organizations “to participate in economic activities as they do in the physical world,” it said. Big tech sees huge potential in the metaverse, “deeming it the next level of the internet,” said analyst Kiran Kumar. Gaming, media and entertainment and retail are among sectors that experienced significant metaverse adoption “and promise high growth potential over the next 12 months,” said Kumar. “Interoperability is the defining property of the metaverse. The success of the metaverse would rely on the ability to unify systems, platforms, and economies in terms of incentives and benefits tied to the physical world, which remains a critical challenge to be addressed.”

Sixty-five percent of respondents indicated an interest in engaging with a brand in the metaverse to unlock an exclusive offer from the brand; 27% said they're “very interested,” said a June Clarus survey of 2,500 consumers. Over three-fourths of consumers would pay for a premium loyalty program, and 77% of consumers who don’t belong to one would subscribe to a loyalty program offered by their favorite brand, said the report. Nine in 10 premium loyalty members said they’re likely to choose a brand over a competitor offering a lower price if they’re satisfied with the special benefits offered by the brand’s loyalty program; 71% of premium loyalty members shop the brand at least once a week, it said.

Wedbush remains positive about Roblox’s “first mover advantage,” its technology and the potential for mergers and acquisitions, but it has concerns about the online game platform’s high platform fees, its young user base and “elevated levels of investment at the expense of operating leverage,” analyst Michael Pachter wrote investors Friday. A bear view is that “fierce competition, lack of compelling content, and a young user base will prevent Roblox from becoming an important part of the Metaverse over the long term, and growth rates will continue to fall,” Pachter warned. As a base case, he said the platform will “remain relevant” in the evolution of the metaverse via its user base, infrastructure and technology, “but it faces an uphill battle to successfully fend off larger peers.” Wedbush maintained a “neutral” rating and a $28 12-month price target on the stock, which was trading at the time of the note at $30.50.