The Metaverse-World is often regarded as an extension of the Real-World, with avatars seen as extensions of their users’ physical bodies. However, the legal nature of the Metaverse-World depends on how it is defined in the terms of use established by Metaverse Operators. Emphasizing the legal effect of these terms supports viewing the Metaverse-World as independent from the Real-World, with avatars positioned as autonomous actors within it. Granting legal personality to such avatars becomes a conceivable option. From this perspective, transactions involving the Metaverse-World can be categorized into four types, based on where the transaction occurs and where the object of the transaction exists. Each type entails specific risks, and liability for resulting harm generally rests with the Metaverse Operator. Where such liability is excluded, insurance contracts tailored to each transaction type should be developed to address the associated risks.