The realization of an interoperable and scalable virtual platform, currently known as the "metaverse," is inevitable, but many technological challenges need to be overcome first. With the metaverse still in a nascent phase, research currently indicates that building a new 3D social environment capable of interoperable avatars and digital transactions will represent most of the initial investment in time and capital. The return on investment, however, is worth the financial risk for firms like Meta, Google, and Apple. While the current virtual space of the metaverse is worth $6.30 billion, that is expected to grow to $84.09 billion by the end of 2028. But the creation of an entire alternate virtual universe of 3D avatars, objects, and otherworldly cityscapes
This article explores the rise of generative AI, particularly ChatGPT, and the combination of large language models (LLM) with robotics, exemplified by Ameca the Robot. It addresses the need to study the ethical considerations and potential implications of digital necromancy, which involves using AI to reanimate deceased individuals for various purposes. Reasons for desiring to engage with a disembodied or bodied replica of a person include the preservation of memories, emotional closure, cultural heritage and historical preservation, interacting with idols or influential figures, educational and research purposes, and creative expression and artistic endeavors. As such, this article examines historical examples of the practice in hologram concerts, CGI characters, and others in order to analyze the ethical concerns related to privacy, consent, and commercial gain. It delves into the challenges of accurately representing individual personalities, misrepresenting cultural context, and the limitations of available data. Furthermore, it explores the Pet Cemetery conundrum and its impact on the grieving process, mental health, and the moral implications of using AI to generate interactions with the deceased. By contemplating future use cases like interactive virtual assistants and realistic historical reenactments, the article highlights the importance of addressing ethical implications as these technologies continue to advance and contributes to the discourse on the responsible and ethical use of generative AI, LLM, and robotics in the context of digital resurrection, calling for ongoing discussions and considerations of AI rights, social dynamics, and the grieving process.
There has been disagreement over the value of purchasing space in the metaverse, but many businesses including Nike, The Wendy's Company, and McDonald's have jumped in headfirst. While the metaverse land rush has been called an "illusion" given underdeveloped infrastructure, including inadequate software and servers, and the potential opportunities for economic and legal abuse, the "real estate of the future" shows no signs of slowing. While the current virtual space of the metaverse is worth $6.30 billion, that is expected to grow to $84.09 billion by the end of 2028. But the long-term legal and regulatory considerations of capitalizing on the investment, as well as the manner in which blockchain technology can secure users' data and digital assets, has yet to be properly investigated. With the metaverse still in a conceptual phase, building a new 3D social environment capable of digital transactions will represent most of the initial investment in time in human capital. Digital twin technologies, already well-established in industry, will be ported to support the need to architect and furnish the new digital world. The return on and viability of investing in the "real estate of the future" raises questions fundamental to the success or failure of the enterprise. As such this paper proposes a novel framing of the issue and looks at the intersection where finance, technology, and law are converging to prevent another Dot-com bubble of the late 1990s in metaverse-based virtual real estate transactions. Furthermore, the paper will argue that these domains are technologically feasible, but the main challenges for commercial users remain in the legal and How to cite this paper:
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