According to a press release from the Texas State Securities Board and related reports, the state securities regulators of New Jersey, Kentucky, Alabama and Texas have commenced coordinated enforcement actions against Slotie, a company based in the country of Georgia. According to the press release, "The actions accuse Slotie NFT ("Slotie") of illegally and fraudulently selling nonfungible tokens, often referred to as NFTs, to raise capital for online and metaverse casinos."

The company is alleged to be soliciting investors online to purchase Slotie NFTs that purportedly provide the investors with ownership interests in online and metaverse casinos and the right to share passively in the income of the casinos. Slotie also is alleged to be illegally offering and selling WATTS, which according to the press release is another type of NFT that "plays a key role in the illegal scheme" by purportedly enabling investors to double profits, along with granting ownership of a plot of land in the metaverse.

The Texas State Securities Board characterized the NFTs as an "unregistered DeFi [g]ambling investment." According to the press release, Slotie is "illegally and fraudulently dealing in Slotie NFTs" by "concealing its assets and liabilities, its anticipated use of capital, the identity of partnering casinos, and key risks tied to the metaverse casinos." Cease and desist orders entered against the company by the various states provide further information concerning the purported violations.

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