How to Manage Virtual Assets in the Metaverse?

How to Manage Virtual Assets in the Metaverse?

How to Manage Virtual Assets in the Metaverse?

How to Manage Virtual Assets in the Metaverse? 366 222 Shlomi Ron

“We see clients with digital assets that can go from emails, cloud-based pictures, crypto currencies – to NFTs. So each asset requires an ad-hoc estate planning. That means you have to do your estate planning while you’re alive.”

-Sara Adami-Johnson
Senior Wealth Planning Consultant
BMO Private Wealth Group

With the recent explosion of the metaverse and Web3 technologies, people have accumulated virtual wealth from crypto currencies, NFT artworks, virtual businesses to virtual lands.

Back in November 2021, the largest virtual real estate deal was marked by Republic Realm buying virtual land in The Sandbox metaverse for a record $4.3 million! And if you look at the NFT Market alone, it surpassed $40 Billion in 2021 (Bloomberg).

All in all, Morgan Stanley is predicting the metaverse could offer a $8-trillion investment opportunity.

With so much wealth being created, the question becomes; how do you manage all these virtual assets not only during your lifetime but also the day after?

I find it fascinating! Especially because this new breed of virtual assets carry financial value that from business and personal perspectives – make it crucial to write the right story to effectively manage them and protect your legacy.

To help me unpack this exciting topic, I had the great pleasure to speak with Sara Adami-Johnson, Senior Wealth Planning Consultant BMO Private Wealth Group. BMO, is of course stands for the Bank of Bank of Montreal.

In this episode, we talked about her journey leading to wealth planning of high-net worth clients with specialty in virtual assets, her definition for the metaverse, challenges managing virtual assets today and the day after, examples, misconceptions, her top 3 tips – and much more.(see full topic list below).

It’s all in the latest episode of the Visual Storytelling Today podcast.

Watch the full video recording of this interview:

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Topics we discussed:

Use the time stamp markers on the above video to easily navigate.

  • 0:00 Introduction
  • 1:46 Backstory
  • 7:33 Metaverse definition
  • 14:06 Client questions
  • 18:59 Tech Changes
  • 22:08 NFT legal
  • 25:48 Examples
  • 31:32 Virtual assets
  • 34:46 Common misconceptions 3
  • 8:47 What’s next?
  • 41:47 Top 3 tips

Shlomi Ron

Shlomi Ron is the founder and CEO of the Visual Storytelling Institute, a Miami-based think tank with a mission to bring the gospel of visual storytelling from the world of art to more human-centric and purpose-driven marketing. A digital marketing veteran with over 20 years of experience working both on the agency and brand sides for Fortune 100/500 brands such as Nokia, IBM, and American Express. He started VSI to combine his marketing expertise with his passion for visual stories stemming from his interests in classic Italian cinema and managing the estate of video art pioneer, Buky Schwartz. At VSI, he helps brands rise above the communication noise through visual storytelling consulting, training, and thought leadership. Select clients include Estée Lauder, Microsoft, and Cable & Wireless – to name a few. He currently teaches Brand Storytelling at the University of Miami’s Business School. Thought leader and speaker at key marketing conferences. He is also the host of the Visual Storytelling Today podcast, which ranks in the top 10 best business storytelling podcasts on the Web. His book: Total Acuity: Tales with Marketing Morals to Help You Create Richer Visual Brand Stories. Outside work, he is a nascent bread baker, The Moth fan, and longtime fedora wearer likely to jive with his classic Italian cinema interest.

All stories by: Shlomi Ron

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