An Essential Elements in Virtual Land Buying Transactions as Digital Asets in Metaverse Based onn Indonesian Positive Law Unsur Esensialia dalam Jual-Beli Virtual Land sebagai Aset Digital di Metaverse berdasarkan Hukum Positif Indonesia

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Published Jan 1, 2023
DOI https://doi.org/10.15294/ipmhi.v3i1.57585

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Billa Ratuwibawa Nyimasmukti
Fakultas Hukum, Universitas Gadjah Mada
Mustika Setianingrum Wijayanti
Fakultas Hukum, Universitas Gadjah Mada
Dewi Bella Juniarti
Fakultas Hukum, Universitas Gadjah Mada

Abstract

Virtual land as a blockchain-based digital asset in the metaverse is becoming popular and is considered to have high investment potential. There are no ordinance governing the ownership and the trading transaction (buying and selling) of virtual land in Indonesia, giving rise to debates regarding the fulfillment of the essential elements of trading virtual land which consists of objects and prices. Consider, the determination of a thing included in the object is based on the provisions in the law of objects conforming to the Civil Code which is closed. In addition, the price used in trading is stated in cryptocurrency, even though based on Article 35 of Central Bank of Indonesia Regulation Number 18/40/PBI/2016 and Article 8 paragraph 2 of Central Bank of Indonesia Regulation Number 19/12/PBI/2017 have explained the prohibition on payment with cryptocurrency or virtual currency. Whether or not the essential elements in a transaction can result in the transaction being declared null and void. The normative-juridical method uses secondary data, including: primary, secondary and tertiary legal materials. In addition, this research utilizes the legal and conceptual approach used by this research. The results indicated that the object element in the virtual land trading transaction in the metaverse has been fulfilled, but the price element is not fulfilled thus the framework of the agreement that should be embedded in the virtual land transfer transaction using cryptocurrency is swap assets, not trading.


 

Article Details

How to Cite
Nyimasmukti, B., Wijayanti, M., & Juniarti, D. (2023). An Essential Elements in Virtual Land Buying Transactions as Digital Asets in Metaverse Based onn Indonesian Positive Law. Ikatan Penulis Mahasiswa Hukum Indonesia Law Journal, 3(1), 40-59. https://doi.org/10.15294/ipmhi.v3i1.57585
Issue
Vol 3 No 1 (2023): IPMHI Law Journal, January 2023
Section
Articles
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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Author Biographies

Mustika Setianingrum Wijayanti, Fakultas Hukum, Universitas Gadjah Mada

Mustika Setianingrum Wijayanti merupakan mahasiswa tingkat akhir departemen Hukum Bisnis Fakultas Hukum Universitas Gadjah Mada. Penulis mempunyai minat serta ketertarikan dalam bidang hukum bisnis dan teknologi. Selama masa perkuliahannya, penulis turut aktif dalam kegiatan akademik hingga non-akademik seperti kompetisi nasional contract drafting dengan tema berfokus pada Financial Technology Peer-to-Peer Lending (P2P), berbagai organisasi, hingga internship. Saat ini penulis sedang melakukan penelitian mengenai teknologi blockchain dan non-fungible token (NFT) serta menjalani internship di startup teknologi yang juga bergerak dalam bidang teknologi blockchain. Penulis dapat dihubungi melalui alamat e-mail: [email protected], dan LinkedIn: Mustika Setianingrum Wijayanti. 

 

Dewi Bella Juniarti, Fakultas Hukum, Universitas Gadjah Mada

Dewi Bella Juniarti adalah Dewi Bella Juniarti lahir di Bogor, 29 Juni 1999, saat ini sedang menyelesaikan pendidikan S-1 di Fakultas Hukum Universitas Gadjah Mada. Selama menempuh pendidikan, ia aktif berorganisasi dalam Forum Penelitian dan Penulisan Hukum dan Komunitas Peradilan Semu. Selain itu, dilain kesempatan ia mengikuti kompetisi seperti karya tulis ilmiah, perancangan kontrak dan turut serta aktif dalam beberapa konferensi. Penulisan yang pernah diterbitkan oleh penulis adalah jurnal berjudul Fullfilment of Defendant’s Right in Perma Number 4 of 2020 reviewed from Principle of Due Process of Law. Penulis dapat dihubungi via e-mail: [email protected]. 

 

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