  This article addresses the lack of comprehensive studies on Web3
technologies, primarily due to lawyers' reluctance to explore technical
intricacies. Understanding the underlying technological foundations is crucial
to enhance the credibility of legal opinions. This article aims to illuminate
these foundations, debunk myths, and concentrate on determining the legal
status of crypto-assets in the context of property rights within the
distributed economy. In addition, this article notes that the intangible nature
of crypto-assets that derive value from distributed registries, and their
resistance to deletion, makes crypto-assets more akin to the autonomy of
intellectual property than physical media. The article presents illustrative
examples from common law (United States, United Kingdom, New Zealand) and civil
law (Germany, Austria, Poland) systems. Proposing a universal solution, it
advocates a comprehensive framework safeguarding digital property - data
ownership - extending beyond the confines of Web3.
  This article presents a comprehensive, multi-layered approach to the analysis
of tokens as digital content and virtual goods. The approach, universally
applicable to various of such goods, scrutinizes property on three distinct
layers: first, the rights to the virtual good itself; second, the rights to the
assets linked to the virtual good; and third, the rights to the intellectual
property intricately associated with the token. Additionally, the paper
provides concise analysis of the conflict of laws rules applicable to virtual
goods. It also delves into issues concerning formal requirements for the
transfer of intellectual property rights, licensing, the first sale
(exhaustion) doctrine, the concept of the lawful acquirer, and other crucial
aspects of intellectual property in the realm of virtual goods, particularly
within the emerging metaverse.
