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Investment Scams in the Metaverse: How to Protect Yourself from Losing Real Money in the Virtual World

The Arkansas Securities Department has issued a new investor advisory entitled “Investment Scams in the Metaverse: How to Protect Yourself from Losing Real Money in the Virtual World.” For much of human existence, story tellers, science fiction writers, film makers, and technologists have fantasized about what virtual worlds might look like in the future. With advances in technology including more enhanced digital experiences that blur the line between the physical and digital worlds, the future has arrived in the form of the “metaverse.” A series of virtual worlds, the metaverse is the latest technology that for some people offers new ways to interact and collaborate, while others see it as new means to perpetrate financial scams and investment fraud. This alert highlights some current metaverse investment scams and discusses ways that investors can protect themselves.

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