The Metaverse, while it has tremendous potential to provide legitimate business opportunities, can also serve as a window for scams targeting unsuspecting individuals.

That is the justification given by the director of the Texas State Securities Board, Joe Rotunda, for the decision he made together with his counterparts from Kentucky, New Jersey and Alabama to stop immediately Slotie sale of non-fungible tokens or NFTs.

Slotie is a virtual casino that takes advantage of emerging technologies such as the Metaverse, a digital world where interaction between participants is enabled to facilitate transactions such as purchases, games and now even gambling.

The virtual gaming center that is the subject of the emergency cease and desist order began operating…