Non-fungible Tokens and Stateless Firms

This chapter discusses the additional risks on MLFT that are created by the Metaverse. These two risks as discussed in the introduction are the Non-Fungible Tokens and the anonymity created by the Metaverse. Section 8.1 starts by discussing Non-Fungible Tokens (NFTs) and the specific risk for MLFT. It considers both the risks from a financial aspect as well as the risk it poses for transferring information. Section 8.2 discusses the concept of stateless firms. The construction of the Metaverse makes it possible for firms to remain fully anonymous. Section 8.2 discusses how the risks of these stateless firms can be limited.