At the recent ILTACON show, the opening keynote speaker advised collected law firm technical talent that the most important thing law firms should do is invest in developing NFTs. At that point, I informed the rest of the Legal Tech Press of the drinking game rules for that mention. Everyone chugs Bleach.
It’s not that NFTs are stupid, it’s that they’re incredibly stupid.
This is fair. Few people understand that. But that’s not to say “few people understand it like quantum physics.” More to the point, “few people understand what Logan Paul became famous for.”
For the record, the most important thing law firms should do now is not develop NFTs.
However, the lawyers will be on the lookout for fake diamond NFTs or think they own the dunes Because they happen to be a gullible mark in big bank accounts.
herbert smith freehills offers a number of free workshops for aspiring attorneys on cutting-edge technology topics, including NFTs.
According to HSF, one of the sessions will be streamed live from the Metaverse (a virtual 3D world where individuals can interact with each other) to try to bring these topical issues to life. After demonstrating how to “mint” a certificate (the process of converting a digital file into a digital asset stored on the blockchain), transfer it to the participant as an NFT.
NFT certificates are also appreciated as a small souvenir. I think it’s a monkey reading a blue book and getting bored.
Seriously, just because some of the emerging technologies seem impractical (like the current iteration of the metaverse) or silly (NFT), they have spawned a lot of legal work. It doesn’t mean no. And in a long enough timeline, some technologies will have broad cultural impact. So far, the Metaverse may be a chat room for abominable people, but I suspect it’s more like a penny-farthing bicycle.
A lot of money can be made by a digital attorney who understands this.
And by “a lot of money” I mean “cash”, not crypto. Because lawyers know better.
just a while ago: First Big Low Firm to Buy Serious Property in Metaverse
Joe Patrice Senior editor of Above the Law think like a lawyer. Feel free to e-mail Tips, questions or comments.follow him twitter Interested in law, politics, and college sports news?Joe also serves Managing Director, RPN Executive Search.