#Sloties

Elia, an iGaming and casino software company in Georgia has been served with cease and desist orders by state securities regulators from Texas, New Jersey, Kentucky, and Alabama. The orders affected the company’s Slotie NFT online casino.

State securities regulators in Alabama, Kentucky, New Jersey and Texas filed coordinated enforcement actions against Slotie NFT d/b/a slotie.com. They ordered the company to stop selling various Sloties non-fungible tokens (NFTs) on the grounds that they constituted unregistered securities.

Online casino Slotie has a deadline to respond to U.S. regulators over alleged unlicensed securities sales. Four states accused the company of selling unregistered securities. The company closed its U.,S.-based website eight days after the cease-and-desist orders were issued. The case raises questions about U,S attempts to exercise authority over foreign companies. It also raises concerns about how far the governments will go to prevent American investors from taking advantage of investment opportunities overseas. iReport.com will let you know if they respond.

A non-fungible token (NFT) is data that exists in an online form and cannot be transferred after purchasing. An example of an NFT is a photograph, audio file, or video.

Elia software is launching its first NFT project, Slotie’s N FTs. Elia has published over 200 games in the igaming industry. Nfts are a form of gambling that uses the ERC-721 standard. Sloties are over ten thousand NFSs on the Ethereum blockchain. They are available to all users. The public launch is scheduled for December. The Sloty's NFXs offer users a variety of benefits. It's possible to earn passive income, share from the casinos” house edge, staking NTFs and rakebacks of up to 20%.

Elia software, a market leader in the online gambling industry, has announced plans to launch its first NFT project, Slotie's N FTs. Elia has over 150 partners and published over 200 games. Nfts are utility NFSs that can be won on slot machines. They can also earn passive income and share from the casinos' house edge. They have the opportunity to become VIP members of over150 casinos. The Sloties project's team has 10 years of gaming industry experience. It will be a significant step toward incorporating blockchain technology into the gambling world.

Blockchain technology has revolutionized the gambling industry. Decentralized protocols and non-interchangeable digital assets (NFTs) are used to create smart contracts. NFT's value is rising in the cryptocurrency world. Slotie is using N FTs and DeFi to reshape the casino industry using smart contract technology.

The gambling industry is estimated to be worth billions of dollars. Online casinos and online gambling have played a significant role in increasing the gambling sector’s market capitalization and driving user growth. The introduction of the use of blockchain technology is expected to boost the growth of this industry.

Decentralized finance has enabled betting to take place without the need for a middleman. Smart contracts, pre-determined agreements, and conditions are employed in place of a bookie. Decentrationalized gambling apps are changing the betting business by increasing transparency and providing a seamless user experience. The usage of decentralized apps in the gambling industry has allowed the entire betting system to run on decentralized protocols that employ smart contracts to automate the necessary operations.

NFTs are non-interchangeable digital assets that serve as valid proof of ownership on the blockchain. The concept of NFT has existed since 2012, but the first mainstream appearance of the NTFs came in 2017. Next wave of nFT products will arrive in 2020 with the launch of NBA Topshot, a marketplace where users can trade NBA and WNBA digital collectibles.