Shoe companies and credit card brokers are in the metaverse. So are major pro sports leagues and teams. Serie A, the top Italian soccer league, became the first to broadcast a live game there in May.

Avatar fans cheered as real AC Milan players defeated Fiorentina.

A study by blockchain analytics company Chainalysis claimed earlier this year that more than 70 casinos utilizing cryptocurrency operated there, taking in $2.8 billion. By contrast, the state of New Jersey’s regulated online casino market has reported $4.1 billion in revenue since 2013.

“There is that risk that this could be yet another bubble that may burst, but I personally don’t think that it will happen,” Martin Lycka, SVP for American Regulatory Affairs and Responsible Gambling told PlayUSA.