Legal Analysis of the Web3 Product’s Business Model
Stage 2. Web3 Product Launch
What’s the purpose of this task?
You will need these legal works to understand whether services provided by your Web3 product might be qualified as regulated activities and therefore whether special licenses might be required for it.
Why do I need to complete this task? What will it allow me to do?
This will help you to:
• Understand whether services provided by your Web3 product might be qualified as regulated activities
and therefore require special licenses
• Clarify the regulatory and legal requirements for
launching and advertising your Web3 product
• Prepare time and cost estimates to create the
required level of legal compliance for your Web3 product
When do I need it? When is the best time to do it?
Before you start offering your Web3 product to customers or provide any information with respect to your product selling publicly.
How should I do it? Are there any best practices?
It's necessary to undertake detailed legal reseach and obtain proper legal advice / opinions in the countires / markets where you plan to launch your Web3 product, which will include help from your chosen legal service provider as to what business model your Web3 product should have.
What’s important to remember for this stage?
If your Web3 product includes the custodial services of 3rd parties' virtual assets then you will probably need to obtain crypto authorizations / licenses. If you plan to launch an NFT marketplace with an auction model or GameFi project with a "game of chance" model then industry-specific licenses might be required.
How much time does it usually take?
This depends on the country chosen for DevCo registration and the complexity of your Web3 project’s business model. This can usually be completed within 1 to 2 weeks, however actual times vary depending on individual project requirements.
Prices for this task start from USD $1500
Prices for add-ons are indicative only. Final prices vary and are set by service providers from the Legal Nodes Network.
Add-ons are only available with a monthly plan from Legal Nodes.
Legal Nodes does NOT provide legal services. Instead, we provide Virtual Legal Officers to orchestrate your legal workload and manage relationships with your service providers. Plans start from $499 per month and gives you access to the Legal Nodes Network of service providers and add-ons, including this one!
