Metaverse is a term coined in by American science fiction writer Neal Stephenson. Science fiction writer Neal Stephenson first coined the term metaverse in His novel Snow Crash detailed a meld of virtual reality VR and augmented reality AR. The metaverse consists of a network of ostensibly three-dimensional worlds during which customers create avatars of themselves to interact with the virtual world. ‘ Metaverses and the idea of a singular metaverse current thrilling new industrial and social alternatives, acknowledged Travis J. Iles, the Texas State Securities Board commissioner. NFTs could be thought of as securities. For one, Schwarzberger and Warnke might truly believe what they’ve been telling potential consumers that NFTs should not regulate as securities because securities legal guidelines don’t apply to NFTs.