Metaverse May Be Tempting But It’s Unregulated: Proceed With Caution
Follow the money – into virtual reality.
As talk of the Metaverse and NFTs gains traction, speculators have rushed to snap up digital assets in the hopes of striking it rich. Stories abound of people and businesses paying huge sums to buy virtual real estate in the Metaverse or newly minted blockchain artwork in the form of NFTs.
Watching this 21st century gold rush from afar, the financial industry has begun to take notice. Not to be left behind, banks are creating lending and investing vehicles for these digital assets.