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OpenSea Delists Sands Vegas Casino Club NFTs After Cease & Desist Orders

Cameron Murphy

Apr 25, 2022 09:40


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Sands Vegas Casino Club Gambler NFTs are delisted by OpenSea.


Sands Vegas Casino Club was served with cease-and-desist orders for NFT sales earlier this month by two US states.


Sands Vegas Casino Club is said to have sold NFTs to finance a Metaverse casino, despite the fact that they were classified as securities.


OpenSea, the main NFT marketplace, has had a tumultuous year. Trading volumes on OpenSea reached a new high in January before plummeting in February and March.


In April, NFT market conditions improved, with OpenSea Ethereum (ETH)-based NFT trade volumes already exceeding March levels.


With a week left in April, the Ethereum-based NFT trading volume is $2.68 billion, according to Dune Analytics. Trading volumes in March were $2.49 billion dollars.


With the NFT market strengthening, OpenSea looks to be treading more carefully in order to avoid regulatory repercussions.

OpenSea Delists Sands Vegas Casino Club NFT Sales

The sale of Sands Vegas Casino Club Gambler Ape NFTs was halted by OpenSea this week. Despite regulatory action against the virtual casino, OpenSea continued to enable trading of the Gambler NFTs this time last week.


Sand Vegas Casino purchased 27 plots in Sandbox in January 2022, according to the Sand Vegas plan.


Between March and August 2022, the virtual casino sought to satisfy all regulatory/legal standards.


According to the OpenSea Help Center, NFTs are delisted if they are found to:


  • Infringe on intellectual property that is protected,

  • Encourage someone to commit suicide or injure themselves,

  • Incite people to hatred or violence,

  • Denigrate or dox another person,

  • Otherwise, you are in violation of our terms of service.

  • The virtual casino's financing source will be cut off as a result of the delisting.

  • The owners of the Gambler NFTs are said to get half of the casino earnings.


The delisting of OpenSea comes as a result of cease-and-desist orders issued by the states of Texas and Alabama.


The casino's website is still up and running, and the SVCC NFTs are still available, however the Twitter handle @sandsvegascasino is no longer active.


Alabama and Texas have issued cease-and-desist orders against Sands Vegas.


Alabama and Texas have issued cease-and-desist orders against Sands Vegas Casino Club this month.


The online casino allegedly sold NFTs to support its activities, according to the two states. The NFTs were an unlawful securities offering, according to Alabama and Texas state statutes.


According to a news statement by the Texas State Securities Board, the virtual casino provided,


"11,111 Gambler NFTs in conjunction with the creation of metaverse casinos in popular metaverses like the Sandbox (SAND), Decentraland (MANA), Infinity Void, and NFT Worlds," according to the report.


According to the news release,


"Gamblers may visit the metaverse casino through avatars and play poker and other games using bitcoins. These activities benefit purchasers of Gambler NFTs. They not only become proprietors of the metaverse casinos, but they also allegedly get half of the revenues."