This new app is like fantasy sports for the stock market - and it's offering cash prizes
Vestly
A new app called Vestly is essentially a fantasy sports app for stocks. You choose your portfolio by buying virtual stocks, and then rack up points based on its performance.
This way, you can prove that you're a better stock trader than your friends without actually risking anything, Vestly explains in its notes.
And you can also win real money.
At the end of every month, the top 100 portfolios will split $10,000, divvied up based on where they ranked, according to TechCrunch. Every six months, Vestly will roll out bigger prizes: like an Audi Q3 Quattro.
So how does Vestly, which raised a $4 million seed round, plan to make money?
The company declined to elaborate to TechCrunch about its business model, but since there are no in-app purchases, Vestly much believe the data it accumulates on which stocks people pick is valuable.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- Top places to visit in Auli in 2024
- Sustainable Transportation Alternatives
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan