THE LEGAL REGIME OF VIRTUAL PROPERTY: A SUI GENERIS APPROACH
DOI:
https://doi.org/10.47390/SPR1342V5SI10Y2025N59Keywords:
virtual property, digital assets, sui generis object, NFT, metaverse, token, digital ownership, MiCA Regulation, crypto-assets, intellectual property, digital economy, civil-law regime, digital inheritance.Abstract
In today’s environment of digital development, the concept of virtual property and its legal regulation is becoming increasingly relevant. During the digitalization process, new types of property objects are emerging that possess clear economic value but do not fully fit into existing legal regulatory frameworks. The so-called Metaverse — a broad virtual space — creates new opportunities for social interaction, business, entertainment, and education, while simultaneously generating numerous legal challenges related to regulating relations within it. In particular, the absence of a unified approach to virtual property and the protection of users’ rights over such assets, as well as the lack of special legal norms governing the sale and transfer of virtual property in many countries, are among the pressing issues. Courts, when resolving disputes between game developers and users, often rely on the doctrines of service obligations or natural obligations. This article analyzes the concept of virtual property and its economic-technical characteristics, the civil-law nature of virtual objects, and the challenges related to interpreting them within the framework of the classical triad of property rights. The study also examines the distinction between virtual property and intellectual property, proposals to recognize virtual property as a sui generis object, and issues related to owning and inheriting virtual assets in the Metaverse.
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