The launch of our open beta didn't go unnoticed. 😃
Visionrare was written about in TechCrunch (twice!), Sifted, the Financial Times, Bloomberg, Blockworks, the BlockCrypto, and a bunch of others (a special thanks to Jason Calacanis' efforts pronouncing our names!).
However, 24h into it, we decided to pivot to a free-to-play version of the game, and close down our paid marketplace while refunding all users that had participated so far.
After launching we received a ton of feedback, among other things, about what are considered securities in different jurisdictions. As this question is core to what we are doing, we did extensive research on this matter and consulted with a corporate lawyer before launching. However, upon launch, we were pointed to one US case in particular, that has some undeniable resemblances to what we set out to do. Even though what we are doing is significantly different and according to us compliant, we wanted to take a step back to reassure this position, especially given the grave consequences regulators impose when they judge you breached security laws. With this in mind, we decided that it would be best to switch to a free-to-play version of our game with the idea of being able to re-introduce financial elements at a later date.
So whats next?
Friday, we'll launch a second iteration of our game. It will still have the same building blocks; it will still be NFT-based, it will double down on the excitement people have for early stage companies and it will reward finding the next unicorns.
We feel empowered by a growing and encouraging community of both users and startups who want Visionrare to succeed and are, as such a young project, honoured to have fuelled a global debate on how to democratise startup investment through crypto.
For more updates, join the conversation on Discord!