Visionrare is a game developed in the form of a crypto marketplace and designed for “fantasy startup investing,” which allows users to spend real money to buy fake NFT shares of real startups.
The game tries to simplify the complexity of venture capital through an auction format in relation to the actual fundraising cycles of startups and their real performance.
While it gives users an opportunity to compete with friends by betting on startups they believe will succeed, they will also be allowed to bid on NFT shares of hundreds of different startups at auction while competing for the most powerful fake portfolio.
For each start-up, Visionrare auctions serialized “VisionShares” per financing round with bids starting at $5. Once a user accumulates a certain number of shares (minimum of 5), they can join a league and compete with other users for an imaginative experience, ascending and descending a leaderboard while competing for a share of the collective value of VisionShares based on the performance of their own portfolio.
Although Visionrare does not have permission from the startups in which it acquires shares, there is a strategy that gives startups room to review their profiles and get a healthy percentage of their NFT shares to distribute at their discretion.
For more information, read the original story in Tech Crunch.