Courtesy of Republic Realm
A rendering of Metajuku, a metaverse shopping experience created by Republic Realm.
The North American Securities Administrators Association is warning investors about the strong potential for scams in the metaverse.
The organization, which represents state and provincial securities regulators in the United States, Canada and Mexico, issued an Informed Investor Advisory Wednesday that the lack of regulation in the metaverse — combined with the ability to operate from anywhere in the world — makes it easy for criminals to prey on unwary investors.
While the metaverse may offer various potential investment opportunities, including virtual real estate and nonfungible tokens, the NASAA said investors should know that, just like with physical-world investments, promises that sound too good to be true often are.
“Our experience with so-called investment opportunities found in the metaverse, is that we see the same old financial scams simply dressed in new clothes and offered to investors in the metaverse. Investors need to be wary of any investment that is promising unrealistic returns with minimal risk,” NASAA President and Maryland…
