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American Journal of  
Society and Law ( AJSL)

The Legal System of  Transactions and the Challenges of  the Metaverse World in 
Accordance with UAE Law

Mohammad Abdelhafid Daej Khamaiseh1, Karima Krim2*

Volume 3 Issue 2, Year 2024
ISSN: 2835-3277 (Online)

DOI: https://doi.org/10.54536/ajsl.v3i2.2985
https://journals.e-palli.com/home/index.php/ajsl

Article Information ABSTRACT

Received: June 09, 2024
Accepted: July 12, 2024
Published: July 15, 2024

The world has undergone important technological transformations, making commercial 
transactions move from normal to electronic and linked to the real world. Still, the new 
generation of  the Internet led to the emergence of  the Metaverse world, which attracted 
many companies and governments, including the UAE, to pay attention to and invest in 
it. It is based on the use of  Blockchain and Artificial Intelligence. This has affected the 
commercial activities of  companies, as it has made contracts done smartly. Its subject will be 
non-fungible tokens, which is the subject of  the study that emphasized the leadership of  the 
UAE government and companies in its interest in the technologies of  the Fourth Industrial 
Revolution and the world of  Metaverse and its legislative exclusivity in regulating virtual 
assets and encrypted tokens and the intelligent agent, but that remains insufficient to control 
transactions in the Metaverse world.

Keywords
Metaverse, Blockchain, Smart 
Contract

1 Abu Dhabi University, UAE 
2 Djillali Liabes University of  Sidi Bel Abbes, Algeria
* Corresponding author’s e-mail: AbdelhafedKhamaiseh@outlook.com

INTRODUCTION
The world is witnessing several: economic activity has 
become based on knowledge and e-commerce, social 
relations are gradually limited to electronic communication 
connected to the Internet, and even political relations 
and communications are done electronically and 
remote meetings, and the Fourth Industrial Revolution 
based on three-dimensional printing and on automated 
thinking through artificial intelligence and the use of  
data and information that  its size is increasing, with 
the documentation of  transactions and the protection 
of  information from forgery and modification and 
its documentation through the Blockchain. These 
technologies are being used in the real world in which we 
live and in independent virtual worlds emerging primarily 
on social media and video games such as Second Life, 
Instagram, Fortnite, and Roblox. They are all Metaverses, 
meaning interconnected virtual environments network 
of  three-dimensional virtual worlds, where humans can 
interact with others socially and economically with virtual 
characters.
Within this world, companies will have an unprecedented 
ability to exploit the data they collect, especially as 
the Metaverse will be the most appropriate place to 
develop modern business practices since the spread 
of  the Internet(News, 2022). As a pioneer in always 
encouraging modern technologies and expanding 
their use, the UAE has adopted many strategies for 
digitization and artificial intelligence(GovernmentUAE). 
The launch of  the Dubai Metaverse Strategy, especially 
in Dubai, seeks to become one of  the top 10 Metaverse 
economies(DubaiGouvernement). The UAE’s initiatives 
in technology and digitization have been numerous, 
moving from normal dealings of  electronic transactions 
to regular management to electronic management, 
and what characterizes the 21st century is the trend 

toward smart transactions and smart management. 
This reflects the legislator’s interest in establishing a 
legislative framework to regulate the use of  modern 
technology related to electronic transactions, confidence 
services(FederalDecree-Law No. (46) of  2021, 2021), and 
commercial, corporate regulators; intellectual and literary 
property; protecting industrial property rights; combating 
rumours and electronic crimes. 

The Importance of  the Study
The study has a

Scientific Importance
By identifying what is meant by the Metaverse world and 
identifying the most important technologies on which it 
is based, such as Blockchain.

Legal Importance
To understand how to deal in the Metaverse world and 
how this world can be set to be within the framework of  
the law.

Economic Importance
Virtual assets, non-fungible tokens, and cryptocurrencies 
will be the objects of  future economies and activities that 
will attract investors and dealers in electronic wallets.

Problematic
As a result of  the legislative amendments adopted by the 
UAE, especially in 2021, to suit its orientation towards 
artificial intelligence, are they considered sufficient 
legislation to regulate transactions in the Metaverse, or 
must the law be to the requirements of  the Metaverse 
world?
The methodology and the approved plan will be 
answered by adopting several approaches: Descriptive by 



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identifying what the virtual world means, smart contracts, 
and crypto assets, and analytical by studying the UAE 
legal texts. To study: First: The impact of  the Metaverse 
on the activities of  companies; Second: The specificity of  
contracts within the Metaverse.

First Section: The Impact of  the Metaverse on the 
Activities of  Companies
Technological transformations have affected trade, so 
the transition from normal trade to electronic commerce, 
regulated by Federal Law No. (46) of  2021 on Electronic 
Transactions and Trust Services. The current generation 
of  the Internet opens the way for creativity and innovation 
that links human intervention and the human mind with 
digital intervention and the artificial mind in Metaverse 
(1.1). The UAE and its companies were not far from this 
technological transformation (1.2).

The Concept of  Metaverse
The meaning, components, and characteristics of  
Metavers will be identified to determine their effects on 
commercial transactions in the UAE. This is within two 
main sections: the first definition and the second is for 
features.

The Metaverse World
The Metaverse world is an ambiguous concept, especially 
from a legal point of  view; we need to define and control 
the moral rules to identify its contribution later to the 
development of  a Metaverse law (Bensoussan, 2022), it is 
a space that is still in its infancy but is the main engine of  
future technologies:

• Metaverse was first used in Neil Stevenson’s 1992 
science fiction novel Snow Crash, where humans interact 
as Avatar characters with each other and with software 
in a three-dimensional virtual space similar to the real 
world. Metaverse in English is a two-pronged term (ar.
wikipedia) The first is “Meta,” which means “beyond” 
or “Most descriptive,” and the second part, “Verse”, is 
drafted from the word Universe, which is intended for 
“The world,” and the combination of  the two words 
makes the meaning “beyond the world” or “beyond 
the universe,” a hypothetical reality in which a person is 
present with other people in digital spaces by adopting a 
digital revolution that helps them interact even though 
they are in multiple places (Saleh, 2021).

• Another aspect of  jurisprudence considers Metaverse 
one of  the most popular names of  the world’s beyond-
traditional projects, the Internet as a whole, including the 
full range of  augmented reality (Albabidy, 2021).

• The United Arab Emirates has been interested 
in augmented reality and metaphors and their 
definition(GovernmentUAE) (DubaiFutureFoundation), 
according to the Gartner Foundation, the world of  
metaphors is a virtual space open to all and arises from 
the merger of  physical and digital reality to create an 
enhanced virtual environment (Agustin, 2024). It is 
an independent virtual economy that enables digital 

currencies and non-replaceable symbols (NTFs). It 
requires using many modern technologies: augmented 
reality, portable projectors, augmented reality cloud, 
Internet of  Things, 5G, artificial intelligence, and 
spatial technologies. Augmented Reality Technology: 
A technology that integrates the real world with a 
virtual latest by adding multimedia content, including 
audio, images, video, information, and animation, is “a 
technology that integrates the image generated by the 
computer into the user’s vision of  the real world that 
produces a built-in vision.” 

Characteristics of  Metaverse
The Metaverse is a virtual world that was introduced 
using virtual and augmented reality devices; it enables 
people to play games, attend parties, shop, attend classes, 
and do experiments, but in a virtual way.

• It is a virtual world parallel to the real world, related 
to using video games connected to the Internet, like the 
Second Life platform or the Second Life, which portrays 
the user as a symbol in a three-dimensional world that has 
integrated many social networking sites  (Albabidy, 2021); 
And it is a series of  virtual worlds, by incorporating digital 
elements into the physical world to make it more digitized 
(Saleh, 2021) and several generations of  the Internet 
(Al-Sadiq, 2011) from the first to the fourth generation, 
which employs data and integrates with the Internet of  
Things and artificial intelligence.

• It is based on modern technologies, such as headsets 
(headset or wireless), Reality glasses boosters, wearable 
technology, and three-dimensional techniques to create 
virtual objects. These technologies are constantly 
developing to make this world more interesting and 
dynamic (Albabidy, 2021), and the user interacts with 
robots and artificial intelligence. The world of  Metaverse 
will allow the user to live the experience; by being an 
integral part, he will be a digital personality referred to as 
a Non-Fungible Token(NFT).

• The areas of  use of  Metaverse are multifaceted 
with several cons: modern Internet-related video games 
are its first application, portraying the user as a symbol 
in a three-dimensional world (such as the Skind Live 
platform, the Minecraft game, the Roeblocks game, 
and the Fortnight game); Education and learning the 
most affected by these technologies consequence of  the 
COVID-19 pandemic, and the orientation of  educational 
institutions for digitization (Saleh, 2021); It is also used 
in the field of  experimental science and medical field; It 
will also change the profiles of  commercial transactions, 
commercial leakage and entrepreneurship as a whole.

UAE Interest in Metaverse and Investment in 
Technology and Artificial Intelligence
As a result of  the spread of  the fifth generation of  
mobile and the increase of  data processing power, 
especially in the United Arab Emirates, which, like other 
GCC countries, is the largest market for virtual reality 
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programmers to consolidate the UAE’s leadership in 
technology and innovation (Lababidi, 2021).

Features of  the Emirati Interest in the Metaverse
This is shown through a set of  UAE initiatives to enhance 
its presence in the virtual world, the most important of  
which can be mentioned as follows:

Dubai Metaverse Initiatives
By launching the Dubai Metaverse Strategy, the Dubai 
Virtual Assets Authority is the first in the world to 
establish its headquarters in the Metaverse under the 
name “The Sandbox” (AlAinNews, 2022b).

With Other Initiatives
• The Global Collaborative Village, a village in the 

Metaverse world that constitutes a site for work and 
cooperation(AlAinNews, 2022a); including the use of  
the Dubai and Abu Dhabi Police for the Metaverse; the 
establishment of  the Dubai Blockchain Center; and the 
Metacon Dubai; allocation of  a portfolio to the Minister 
of  State for Artificial Intelligence Digital Economy and 
Remote Work Applications.

• Dubai Virtual Assets Regulatory Authority (DFA) 
launches The Sandbox, the world’s first government 
regulator to enter the Metaverse, reflecting confidence in 
DFA as part of  the integral to the strength of  Dubai’s 
economy”(Moneim, 2022).

• The UAE’s adoption of  a digital transaction strategy 
confirms its reliance on Blockchain (UAEGovernment, 
2022)

• Dubai Emirate’s adoption of  the Blockchain system 
through the Land Department (dubai-land, 2017). 

• The Global Blockchain Council was established by 
the Dubai Museum of  the Future Foundation to research 
and explore current and future applications of  innovative 
technologies (wam.ae) .

• The adoption of  Blockchain-based projects as a 
vehicle life cycle management project implemented 
by the Dubai Road Transport Authority (RTA) (UAE 
Government).

• Issuing legislation regulating the dealing of  virtual 
assets following Law No. (4) of  2022 regarding the 
regulation of  virtual assets in the Emirate of  Dubai, 
which considers Blockchain as one of  the distributed 
ledger technologies approved in digital transactions, 
with the decision of  the Chairman of  the Board of  
Directors of  the Securities and Commodities Authority 
No. (23/Chairman) of  2020, dated 01-11-2020, regarding 
regulating crypto asset activities concerned with crypto 
assets, their producers, dealers, and trading.

Orientation of  the Companies in the UAE to Practice 
Activities within the Metaverse
The field of  this world has not remained limited to 
team games only. Still, it has attracted the attention of  
major commercial companies, whether specialized in 
technology or social media: Facebook was the first 
company after the announcement of  the transformation 

of  its name and strategy towards the Metaverse to 
become a Meta company –announced on 28-10-2021 
(Roose, 2021); (Zakaria, 2021) And Microsoft bought 
Activing in Games intending to provide the foundation 
stone for the Metaverse, and in 2021 it launched the 
world’s technology in one room Microsoft Mesh after 
launching Microsoft Teams (Albabidy, 2021), and major 
commercial companies have reserved for themselves and 
their brands a place in this space, such as Nike and Adidas 
(Bensoussan, 2022).
Emirati Companies were not Far from Such Interest 
(Albabidy, 2021)

• DAMAC Properties: which first focused on real 
estate and then built its virtual assets, to later combine the 
real world with the virtual world (virtual homes, digital 
real estate, digital devices, and digital jewellery) (Dabousi, 
2021);

• Emirates Airlines: announced its accession to the 
Metaverse and launch of  non-fungible codes and digitize 
its services and maximize presence in the virtual world;

• Commercial International Bank (CBI): First UAE 
bank to launch a virtual website in the Decentral 
Metaverse; Emirates NBD launched a global accelerator 
program for Metaverse startups in partnership with the 
Dubai International Financial Centre (DIFC) Fintech 
Hive and supported by Microsoft Technologies (Emirates 
Bank).

Second Section: The Privacy of  Contracts within the 
Metaverse
Metaverse platforms will facilitate commercial transactions 
and contribute to increasing the volume of  consumption 
of  digital contents and data by ten times what is usual   
(Zeidan & Saif), with using of  artificial intelligence and 
three-dimensional digital copies and intervening smart 
agent; with defining the concept of  Blockchain, the basic 
component of  the transactional infrastructure in the 
Metaverse (2.1); then learning about the applications of  
Blockchain in Smart contracts and crypto assets (2.2).

A Subsection Sample Blockchain Technology, the 
Basic Component of  the Transactional Infrastructure 
in the Metaverse
The real launch of  the Blockchain dates back to the 
beginning of  the current century, especially in 2008, by 
its developer, Mr. Satoshi Nakamoto. It was applied in 
2009 as a comprehensive record of  transactions using the 
digital currency Bitcoin. Still, the boom was in 2014, as 
a result of  separating the Blockchain from the currency 
in Blockchain 2.0 by expanding its field of  application. 
To understand it, what it means, and its most important 
features will be identified.

Defining What is Meant by Blockchain
There are many definitions of  Blockchain:

• Blockchain (a distributed database characterized by 
its ability to manage a constantly growing list of  records 
called blocks). Each block contains a timestamp and a 
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to preserve the data stored in it and prevent it from 
being modified; that is, when information is stored in 
the Blockchain, it cannot be modified later (Corea). It 
is similar to a shared, decentralized ledger (DLT) that 
stores and transfers value with data over the Internet 
transparently, securely, and independently of  a central 
body. This technology is based on three principles: trust, 
transparency, and mutual control over the data that is 
circulating (Baker).

• Blockchain is a system of  a common, real-time, 
encrypted, and decentralized electronic ledger to process 
and record financial transactions, contracts, physical 
assets, and supply chain information (Hossain, 2023). 
This chain is open to everyone in the chain, can see the 
details of  each record (block) and track the information 
over a secure network that does not require third-party 
verification (Rahman, 2021); This technology is a digital 
record book of  transactions that are repeated and 
distributed over the entire network of  the system on In 
blocks of  encrypted records, each of  them is a block, 
which is linked to each other and secured by a special 
cryptographic code, and each block contains Hash, which 
is a mathematical algorithm that records a small part of  
the data for transactions included in the record as a whole 
(Jaber, 2020).

• As for the UAE law, it did not intervene with special 
provisions to define the Blockchain, but it paid attention 
to them when regulating virtual assets, as Law No. (4) 
of  2022 regarding the regulation of  virtual assets in the 
Emirate of  Dubai, considers the Blockchain a distributed 
ledger, which defines it as: “A public or private digital 
database through which Actions on virtual assets, and 
their creation, preservation, and sharing, so that they 
are validated and owned in a network of  automatic 
nodes from multiple locations and locations, including 
“Blockchain” technology (Article 1/12).

Advantages of  Blockchain
Blockchain has several advantages (Latarsh & Ahmed, 
2021)(Rahman, 2021): 

• It is based on a decentralized distributed network of  
transactions: data is stored and approved in a distributed 
manner among all members of  the chain without focusing 
on one responsible person;

• It provides security for its unchangeable privilege. 
Once the data is entered into the blocks, they are saved 
and approved by the rest of  the users, making them rigid 
and cannot be modified.

• It has several types. The public Blockchain is a 
distributed network that anyone can join and participate in 
the preservation, unlike the private Blockchain, in which a 
person manages the chain and approves the preservation 
of  data and transactions following the controls it sets, a 
type that guarantees more privacy and is often adopted 
by financial institutions and companies by identifying the 
parties of  the network and the chain;

• Blockchain has several functions: saving data as 
a decentralized distributed record while tracking the 

saved information and data saving within the blocks in 
a chronological sequence; sending and circulating data 
between members of  the chain safely and soundly without 
third-party intervention; and one of  the functions is 
trading assets and cryptocurrencies.

Smart Contract and Encrypted Tokens, Applications 
of  Blockchain in Digital Business Transactions
Today’s embodiment of  the world of  the Metaverse is 
through electronic games, especially multiplayer games 
played by players from different countries brought 
together by the game arena and the Internet. Their 
relationship during the game are real legal transactions, 
from buying and selling or renting, and may reach 
innovations that require protection to make their virtual 
characters more unique to win the game(Youssef, 2016). 
These transactions are considered smart contracts (the 
first branch), and those clothes, currencies, weapons, 
and even virtual people are considered virtual tokens or 
virtual money (the second branch).

The Smart Contract links the Parties’ Trade Relations 
in Metaverse
The most important feature of  the contracts in the 
world of  Metaverse is the dominance of  the principle of  
absolute authority of  will. As a digital image stored with 
computer memory, virtual funds protect the appearance 
of  physical money transferred and real estate and have 
a virtual value within the virtual game world can have a 
real exchange in the real world, for example, transfers of  
virtual currency in the world of  Second Life amounted to 
$115 million in 2009.
If  online games are multiplayer, players’ goal is not 
limited to entertainment from purchasing the virtual 
man or Avatar processing supplies they will represent 
and play through. Rather, it may go beyond the pursuit 
of  profit and material gain as a driver of  play and not 
merely entertainment; transactions occur during this 
virtual world using technical contracting programs or the 
electronic agent who will be the person’s deputy in play 
and contracting.
The emergence of  the smart contract coincided with the 
second generation of  Blockchain (2.0) associated with 
yttrium, with which the field of  use of  the Blockchain 
(ledger) is defined:

• A program integrated into the Blockchain carries 
out conditional transactions automatically without 
human intervention or trusted external parties, so 
the information and assets are distributed through it 
completely in advance in the code and are operated by 
meeting certain conditions.

• A smart contract is a self-executing contract 
resulting from the use of  Blockchain, which has led 
to the automation of  contracts in the sense of  making 
them automatic, which increases your efficiency and 
accelerates the process further. Once the predetermined 
conditions are met, the contract is executed automatically 
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reliance on a neutral third party to verify the contract’s 
terms were met.

• It is not a contract in the legal sense of  the term 
but a computer program based on BlockChain. The 
smart contract will ensure the automatic and automatic 
execution of  the agreement in the application of  the 
principle of  peer-to-peer dealing or in the application of  
the rule of  “if, the result will be,” which is informed by 
the computer of  these conditions after translating the 
legal agreement into the computer language.

• The UAE law has regulated such type of  contract 
under the name of  automated electronic transactions 
and defined them as: “transactions that are concluded or 
executed in whole or in part by an automated electronic 
intermediary” and defined the automated electronic 
intermediary as “an electronic information system that 
operates automatically autonomously in whole or in part, 
without interference from any natural person at the time 
the work is done or responded to, “while the electronic 
information system means “a set of  information 
programs and information technology means prepared 
to create and to process, manage, store and exchange 
electronic or similar information.”.(Article 1, Federal 
Decree-Law No. (46) of  2021). The existence of  such 
a contract is based on a program or information system 
that may interfere wholly or partially with the transaction.

Non-Fungible Token and Encrypted Assets, System 
Transaction Engine in Metaverse
Suppose the second generation of  Blockchain is the self-
executing smart contract. In that case, the third generation 
has the advantage of  extending its scope to government 
departments, health, literature, art, and culture, and it is 
not limited to financial industries. It will be considered 
a platform to contribute to the development of  the 
smart world by allocating resources to the physical world 
(A & Maximilian, 2018) (Latarsh & Ahmed, 2021) . If  
Metaverse does not exist widely, the non-replaceable 
symbols are already present and used in multiplayer 
electronic games as unique data encryption modules 
with Blockchain adoption that create non-replaceable 
digital files containing images, drawings, or videos 
embedded in the premium centre that will be valuable in 
the virtual market and are often used in the field of  play, 
entertainment and Metaverse (Ramos, 2022).

• The NFT (Non-Fungible Token) are unique, non-
replaceable data units stored in a digital record based on 
Blockchain technology, representing images, videos, or 
digital files as similar unique elements.  They are smart 
ownership contracts for digital assets or sometimes real 
assets, representing single consumable digital units within 
the game or in the virtual world in the form of  unique 
digital assets located in the Blockchain (such as Ethereum, 
Tezos, or Cosmos) by a smart contract (Schlumberger, 
2021).

• The UAE has paid attention to non-fungible tokens, 
as follows: Regulating Crypto Assets following the 
decision of  the Chairman of  the Board of  Directors of  

the Authority (Securities and Commodities Authority) 
No. (23/Chairman) of  2020 regarding the Regulation on 
Crypto Asset Activities, defined tokens are considered 
crypto assets: “a record within an electronic network or 
distribution database that acts as a medium of  exchange, 
storage of  value, unit of  account, representation of  
property, economic rights, or a right of  access or usufruct 
of  any kind, which may be transmitted electronically 
from one person to another through the operation of  
a computer program or an algorithm regulating its use.” 
(Article1/8). Dubai’s Virtual Assets Legislation gives a 
broad concept of  virtual assets.

• It is considered an intangible object and fund that can 
be dealt with within the meaning of  Article 97 of  Federal 
Law No. (05) of  1985 promulgating the Civil Transactions 
Law of  the United Arab Emirates: “Everything that can 
be acquired materially or morally and used legitimately 
and does not depart from dealing by nature or under 
the law is correct to be subject to financial rights”, and 
possession will be immaterial with the possibility of  
dealing with encrypted codes between the parties within 
the virtual world, following the provisions of  the market 
allocated by the UAE to deal with it, and it is a moral 
movable even if  it represents real estate assets that have 
their privacy derived from their nature(Youssef, 2016).

• They are considered intellectual property rights, and 
they must respect the legal procedures established to 
protect these rights, obtain a license or request permission 
to use the trademark or license to use the trademark for 
a company in a digital element. These symbols will be 
understood based on existing legislation, with some 
adjustments needed soon to regulate human interaction 
with the virtual world. But who would be her owner? 
Jurisprudence has conflicted between(Youssef, 2016): 
being considered derivative or common classifications 
and granting ownership to the owner of  the game or 
platform. To be considered a computer program covered 
by legal protection (Articles 1, 2/2, Federal Decree Law 
No. (38) of  2021) as a right of  the author owned by its 
author (Owner of  the game or platform in the virtual 
world.

CONCLUSION
Every new technology that appears strange and 
incomprehensible quickly changes our perception of  
it and becomes a self-evident thing in our ordinary 
lives. Technology and its development are designed to 
facilitate human life. This is what the near future will 
show regarding using the Metaverse.  However, the 
technologies used in this world will combine the virtual 
and real worlds, remaining subject to the legislation and 
legal texts in force without special legal provisions. This 
has been confirmed by the study, which produced a set 
of  results: The world of  the Metaverse is based on the 
technologies of  the Fourth Industrial Revolution with 
the Internet, and it did not remain just science fiction 
but was embodied in reality. The United Arab Emirates 
is one of  the first Arab countries to pay attention to the 



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Metaverse through its Metaverse strategy and encourage 
technological innovation. Major UAE companies tend to 
invest and gain a place in the virtual world. Blockchain 
is the main engine of  the Metaverse world; it is a 
distributed ledger that documents transactions, preserves 
information, and protects it from forgery because it is 
based on cryptography and cryptocurrencies and is used 
as a modern technology for contracting and representing 
assets. UAE law regulates automated contracting or Smart 
contracting with the adoption of  the electronic agent, 
which is one of  the first legislations regulating crypto 
assets and related activities. Every new technology that 
appears strange and incomprehensible quickly changes 
our perception of  it and becomes a self-evident thing in 
our ordinary lives. Technology and its development are 
designed to facilitate human life. This is what the near 
future will show regarding using the Metaverse.  However, 
the technologies used in this world will combine the 
virtual and real worlds, remaining subject to the legislation 
and legal texts in force without special legal provisions. 
This has been confirmed by the study, which produced 
a set of  results: The world of  the Metaverse is based on 
the technologies of  the Fourth Industrial Revolution with 
the Internet, and it did not remain just science fiction but 
was embodied in reality. The United Arab Emirates is 
one of  the first Arab countries to pay attention to the 
Metaverse through its Metaverse strategy and encourage 
technological innovation. Major UAE companies tend to 
invest and gain a place in the virtual world. Blockchain 
is the main engine of  the Metaverse world; it is a 
distributed ledger that documents transactions, preserves 
information, and protects it from forgery because it is 
based on cryptography and cryptocurrencies and is used 
as a modern technology for contracting and representing 
assets. UAE law regulates automated contracting or Smart 
contracting with the adoption of  the electronic agent, 
which is one of  the first legislations regulating crypto 
assets and related activities.

RECOMMENDATIONS
• The success of  the Metaverse environment requires 

the intervention of  all technological companies active 
in this field, whether related to financial transactions 
and virtual assets, digitization, cloud computing, and 
cybersecurity.

• The a need to establish a legal regulation of  the work 
of  experts and content creators of  digital technologies 
and artificial intelligence; they work to keep abreast of  
technical developments in the field of  Metaverse.

• The need for specific legislative texts in this area 
has become urgent, guaranteeing a balance between 
technological creativity and rights protection.

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