We had a fantastic AMA session with the MetaCourt team and the opportunity to learn more about the project and the exciting innovations the MetaCourt team is bringing to the crypto world.
MetaCourt is the first legal ecosystem and multichain DApp that provides web3 users with A-Z legal services. The primary use is to resolve Web3 disputes via on-chain dispute resolution, which is a novel approach that ensures transparency, trust, and efficiency in the legal path of users.
MetaCourt’s vision is to enhance access to justice and restore trust in the justice system around the world by leveraging new technologies, VR, Blockchain, AI, and the Metaverse.
This article is a quick recap of all the questions asked during the MetaCourt. We received a lot of engagement from our community. Thank you to all of our wonderful community members who got involved!
TruePNL: Please introduce yourself and describe your background and current role at MetaCourt?
My name is Dusan. I specialise in IT Law, focusing on data protection, AI, and blockchain. I hold PhD in law from Tilburg University, Netherlands, and I am one of the co-founders of MetaCourt.
My Name is Mohammad. I am a former crypto lawyer with an LLM and PhD in Technology law from the University of Bologna. I serve as co-founder and CEO of MetaCourt. My relevant web3 experiences are working as a research fellow in Kleros and Chief Strategy in Codename Renegades.
TruePNL: Can you introduce the team behind MetaCourt? Please share the achievements the team has made so far?
Apart from Dusan and me as cofounders, we have Melissa Dr Melissa Sassi is an impact investor and tech executive who worked at companies like Microsoft & IBM after her two stints on Wall Street at BlackRock & Goldman Sachs. She is also a Board Member of Cogent Bank’s Blockchain & Crypto Advisory Board. She is the strategist and founding partner at MetaCourt. Also, other C-level team members. Marco Mendola, British Lawyer as an advisor. Oliver Scherenberg ، German lawyer, as NFT advisor. Also, we have +15 team members in C Level and staff.
The team comprises people from various parts of the world and experts from different domains. More about the team structure, roles and responsibilities can be found at our website — https://metacourt.tech/team
as well as in the White Paper available at the website https://metacourt.tech/documents/MetacourtWhitePaperV1.0.0.pdf
We just started last year in June, and currently, we have the following achievements:
- Participated in IBM accelerator
- passed Village Capital Incubation for Investment readiness
- Microsoft Founders Hub
- Currently Coin Telegraph accelerator
- Partnership with BNB chain and moving from SOLANA to EVM.
Also, our main achievement was Introducing the first legal platform for web3 in the form of legal Metaverse and dispute resolution protocol.
Had successful TestNet in January and going to have a final launch on 7th Jule together with TGE.
TruePNL: Could you briefly describe MetaCourt? What have you got planned for 2023? A roadmap perhaps?
MetaCourt is the first legal ecosystem and multichain DApp that provides web3 users with A-Z legal services. Our primary use is to resolve Web3 disputes via on-chain dispute resolution, a novel approach that ensures transparency, trust, and efficiency in the legal path of users. Our mission is to enhance access to justice and restore trust in the justice system worldwide by leveraging new technologies, VR, Blockchain, AI, and the Metaverse.
Why should there be A MetaCourt? The problem is simple. There are many transactions, and the Blockchain market is growing, as we all say, the road to 1B people. It’s a fact that up to 3 per cent of transactions have the potential for dispute.
But what will happen when we have a dispute in the Blockchain world? We don’t go to court as it’s slow, inefficient, non-transparent, biased, and needs more understanding of web3. So, Blockchain needs its justice mechanism and system.
MetaCourt is building the first dispute resolution protocol and a legal platform to connect people with legal web services. Dusan mentioned it in detail. But concerning plans, the first thing is to have IDO and then TGE.
We are planning our significant partnerships after TGE. We are working with BNB Chain and a few web3 products to expand utility usage.
We have a live utility at the time of TGE. All of our plans are about offering a dispute resolution mechanism to web3 projects in the first phase. A couple of freelancing platforms, payment gateways, GameFi projects and every product that has potential for dispute are among our audience.
Apart from that, launching an isolated NFT ecosystem and Metaverse part is planned too.
As you know, we have around seven primary services. So with the platform launch, we have Two of them, and then every three months, we have one new utility/service to launch.
TruePNL: Can you let us about competitive advantages does MetaCourt have over other projects?
Of course. There are many of them, and we will point out a few.
MetaCourt stands out due to its strong commitment to decentralization, which fosters a more efficient, inclusive, and robust legal system. While other companies have attempted to integrate blockchain technology into the legal realm, MetaCourt has pioneered the integration of Metaverse, Blockchain, and legal tech opportunities on a single platform.
MetaCourt might be used for dispute resolutions in many fields, such as :
• Addressing Immoral Actions
• Intellectual Property Infringements
• Disputes in GameFi and Play-and-Earn Platforms
• Issues between employers and freelancers in Blockchain-based platforms
• Disputes in decentralized social media
• Conflicts in on-launchpads and decentralized crowdfunding platforms: conflicts that emerge during token launches and decentralized crowdfunding campaigns.
• DAO disputes
• Gambling disputes
Also, there is no significant competition. The Decentralized Justice concept is very innovative and unique. There are just a few of the projects (MetaCourt, Kleros and Jur)
Do you remember Axie Infinity for GameFi?
This will be the same for MetaCourt as a sample for the web3 justice system. Kleros is the main competitor, but as I have collaborated with them before, I tried to differentiate MetaCourt in many ways that Dusan mentioned the most important aspects. We have DAO, Unique Dispute Resolution Mechanism, Revenue Share with Community and Virtual Arbitration in the form of Metaverse as the main ones.
TruePNL: What’s the latest developments about use-case & features of MetaCourt? Can you tell us more about how we buy $Court?
The use case of MetaCourt is mainly about having arbitration for web3 disputes, as our Arbitration Mechanism is the main one. MetaCourt provides arbitration services for a wide range of disputes, including but not limited to intelligent contracts, interactions in Web 3 platforms, and the Metaverse.
A few key categories are:
- Addressing Immoral Actions: misconduct and criminal acts, such as harassment and
assault occurring in Metaverse from platform rules perspective. - Intellectual Property Infringements: issues like defining ownership of digital assets like NFTs, piracy cases, trademark infringement, copyright piracy, and the transfer of rights through licensing.
- Disputes in GameFi and Play-and-Earn Platforms: conflicts arising from ownership claims or disputes related to the transfer of ownership of virtual real estate within
GameFi and Play-and-Earn platforms. - Conflicts in E-Commerce Platforms (e.g., Web 3.0 versions of eBay and Shopify): issues concerning delivery, product quality, and payment terms.
- Issues between employers and freelancers in Blockchain-based platforms: For instance, if an employer is dissatisfied with the quality of services provided by a freelancer.
- Disputes in decentralized social media: For instance, if a user believes their behaviour is
under the platform’s terms of use but receives negative points in the reputation system of social media. - Conflicts in on-launchpads and decentralized crowdfunding platforms: conflicts that emerge during token launches and decentralized crowdfunding campaigns. This includes scenarios where users wish to challenge exchange decisions regarding the listing of tokens or when a startup fails to deliver a viable product or prototype after raising funds on a decentralized platform.
- DAO disputes: disagreements regarding the allocation of funds or the decision-making process within the organization.
- Gambling disputes: conflicts related to wagers, payouts, or any other gambling-related
matters, MetaCourt can assist in seeking a fair resolution.
For all the above disputes, users should pay COURT, and arbitrators should Stake COURT to have a chance for arbitration.
But this is not all. We have different services and use cases. As I mentioned that all are doable with COURT token as a multi-utility token:
- arbitration
- selling all web3-related agreements and disputes
- sales of lands and NFTs
- legal counselling
- NFT license
- Staking
From the 7th of July, $COURT will be listed on DEX, and after that, CEX (BitMart and ..) are the place you may bag some COURT.
TruePNL: Apart from the strength of your team, which consists of great people, кevenue is also significant for the growth and progress of the project. So, how do you generate profits/money to keep your project going, and what is your revenue model? How can this provide a win-win situation for all stakeholders (users, investors and projects)?
So, as Moha explained, we have different services and use cases. As I mentioned that all are doable with COURT token as a multi-utility token:
- arbitration
- selling all web3-related agreements and disputes
- sales of lands and NFTs
- legal counselling
- NFT license
- Staking
For the following question about revenues. What projects are reasonable in web3? We heard 1000 times that it is all about UTILITY. Most projects sell tokens and NFTs, and as there is no actual use case and utility, they dump the project or simply ghost or go down. This is something other than what we have. We have a unique and sustainable business model based on service provision. As a platform that connects service providers to people in need, we have a lifelong live utility.
In the last questions, we said what our services are. Those are what make us different. To make a balance, we introduced our POAP economy. We also share a portion of our revenues with the community. Also, investors may ensure as there are utilities, there is always demand for the token.
TruePNL: Do you plan to partner with other projects with the same visions as yours? If so, what do you plan to benefit or expect from these partnerships?
As mentioned, we have established several partnerships (IBM, Microsoft, Viliagle Capital, Coin Telegraph) that help us to develop our projects to desirable levels.
We plan to partner with any projects where their users may have disputes or legal troubles. In this case, all web3 Metaverse projects, GameFi projects, DAOs, decentralized social media and DeFi projects are the primary audience in our B2B business model.
How do we benefit from them? I go simple with that.
There is a DAO and a disagreement between members on what subject to expend the money on! Some people say A, and some say B. They need a third-party neutral body to adjudicate their disputes. So, we get fees for that, they are happy as the dispute is gone, and the DAO will continue with transparent rules.
It’s the same for web3-based freelancing platforms where freelancers have problems with employers? They use Escrow. But who can adjudicate if they have a dispute? If the platform does that, it’s no different from centralized platforms. Apart from B2B, B2C is active as well.
Do you want to have no project? Do you know where to have a company to have less tax? MetaCourt will provide all web3-related legal services. In the above case, it connects you, for instance, to the service provider offshore.
It’s not just about arbitration.
TruePNL: What are the key challenges or obstacles that MetaCourt foresees in achieving widespread adoption of its web3 legal ecosystem, and how does the team plan to overcome them?
There are several of them. The first one is acceptance of arbitration processes. People need to learn the use and usefulness of this process.
At MetaCourt, we follow a streamlined arbitration process. Once you’ve initiated the arbitration, a panel of five skilled arbitrators, whose identities remain anonymous, will be assigned to your case. They will thoroughly examine the information provided and cast their votes accordingly. The decision in favour of one party is determined by obtaining the majority of votes, and this verdict will ultimately be enforced.
Secondly relates to regulation and its application in the Metaverse — many national laws have national jurisdictions. This approach does not work in Metaverse or any other system that does not respect national borders.
We are at the point when we do not know whether Meta -specific regulations will be developed. However, there are sources of international laws that could be used. That is our way of identifying universally applicable rules.
Apart from What Dusan mentioned, from a Product design perspective, this: As web3 adoption grows, scalability and performance become critical factors. MetaCourt anticipates the need to handle significant legal transactions and resolve disputes efficiently. Therefore, integrating seamlessly with existing blockchain platforms, metaverses, NFT ecosystems, and other web3 technologies is vital for MetaCourt’s success.
That’s why we have a MultiChain route ahead of us :) It must be added that protecting personal privacy is a challenge per se. Thus, we value the privacy of our users. Users should be free to choose anonymity throughout the arbitration proceedings, safeguarding their confidentiality while actively participating in resolving the dispute.
Regarding trust, it must be mentioned that we prioritize the assurance of the arbitrators’ capabilities. Our platform incorporates an assessment process that evaluates the knowledge and qualifications of panellists. We aim to provide reliable and competent service providers well-equipped to adjudicate disputes. In addition to this assessment, we are implementing a decentralized knowledge assessment test for every service provider on our platform, along with the necessary staking requirements. This ensures you can trust the arbitrators’ expertise, especially in Web 3.0 disputes, where traditional legal systems may need more familiarity.
So, these are some of the most significant challenges that our project deals with. Of course, there are many others, but to learn more about them, we advise you to check our White Paper. Educating is the key to mass adoption for every web3 project to finalize.
One of the primary obstacles is the need for more understanding and awareness of web3 legal services among potential users.Many individuals and organizations may need to familiarize themselves with the benefits and functionalities of MetaCourt’s ecosystem. To overcome this, we plan to invest in educational initiatives, including targeted marketing campaigns, community engagement, and partnerships with industry influencers and thought leaders.
By raising awareness and providing educational resources, they aim to bridge the knowledge gap and demonstrate the value of their ecosystem.
We sincerely thank the MetaCourt team for a fantastic AMA event and thank you to all users for submitting their questions.
The AMA winners are the following Twitter handles:
@spanser77, @KingAlperen52, @Nic1cool, @werdninja, @JACKALLTRADE2, @Lopyou54804819, @OxNoleksum.
Winners will share $200 USDT between them. Congratulations!
