NFT scams and metaverses: cybersecurity

1 https://www.forbes.com/sites/jonathanponciano/2022/01/20/nfts-shatter-monthly-trading-record-with-4-billion-in-sales-heres-why-theyre-still-booming- despite-the-crypto-crash/?sh=67b8df607910

2 https://www.gartner.com/en/newsroom/press-releases/2022-02-07-gartner-predicts-25-percent-of-people-will-spend-at-least-one-hour-per- day-in-the-metaverse-by-2026

3 https://www.gartner.com/en/newsroom/press-releases/2022-02-07-gartner-predicts-25-percent-of-people-will-spend-at-least-one-hour-per- day-in-the-metaverse-by-2026

4 https://www.bloomberg.com/professional/blog/metaverses-80-billion-etf-assets-by-2024-virtually-a-reality/

This material has been prepared for informational and educational purposes only. It does not provide personalized investment advice. It has been prepared without taking into account the personal financial situation and objectives of the people who receive it.

The purchase, sale and transaction of non-fungible tokens (NFTs) or other digital assets and related products is highly speculative and may result in a loss of the entire investment. These products are intended only for people who can bear the economic risk of investing and who do not need cash for their investments. Buyers, sellers, and users of these digital assets should familiarize themselves with these risks and considerations before engaging in transactions in these other digital assets. Risks and considerations include, but are not limited to: extreme volatility; limited transferability and liquidity; changes in government regulations, including tax considerations; and the potential for fraud, illegality, hacking or other disruptions in the blockchain or problems with the use and retention of “private keys” needed to access a digital asset.

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Regulation of digital assets continues to expand globally, and as such, federal, state, or foreign governments may restrict the use and trading of some or all digital assets, contributing to their volatility. Digital assets stored online are uninsured and do not enjoy the same protections or guarantees as bank deposits in the United States or other jurisdictions. Digital assets can be exchanged for US dollars or other currencies, but are generally not backed or supported by any government or central bank. Before buying, investors should note that the risks applicable to a digital asset may not be the same risks applicable to other forms of digital assets. Digital asset markets and exchanges are not currently regulated in the same way and do not provide clients with the protections available in the equity, fixed income, options, futures, commodities firsts or exchanges.

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