Web3 gambling

A metaverse casino has been hit with simultaneous cease and desist orders from four state enforcement bodies across the United States, who have deemed the firm’s nonfungible tokens (NFTs) to be unregistered securities. Over two NFT collections offered by metaverse casino Slotie, the tokens are said to offer access to the metaverse casino, staking rewards, revenue split from its games, lotteries, and native token WATT. However, the regulators don’t appear pleased with how the platform has marketed the NFTs and its alleged lack of securities registration.  On Oct. 20, Texas, Kentucky, New Jersey, and Alabama state securities boards submitted orders for Slotie to cease and desist its operations, citing the platform’s lack of state registration and the offering of unregis...