Snap Inc. (NYSE: SNAP) has released a minigame on Snapchat’s platform called StockStars that allows users to practice investing skills. Last summer, Snapchat officially launched ‘Snap Minis’, which are essentially ‘mini apps’ created by third-party companies that users can access through the platform. Some examples of previous Snap Minis include BallotReady, a voter registration tool and guide, and Headspace Mini, which offers users a guide to meditation techniques. This latest Snap Mini was developed by Invstr, a company that offers educational investment tools including a simulated market environment that allows users to practice investing using a fake portfolio.
StockStars will provide Snapchat users a game-like approach to investment practice. Users will be granted a fake portfolio of USD 1 Million that they can then use to buy and sell stocks and cryptocurrencies in a simulated market that uses real time data. Additionally, users can compete with friends in timed investing challenges spanning anywhere between 1-minute to 5-days to see who can generate the most profit.
Snapchat’s user demographic mostly includes people aged between 15 and 25, though numerous users are even as young as 13. In this day and age, social media can influence market trends as can be seen with Reddit and Gamestop as well as Twitter and Dogecoin. While this may seem like fun and games in the short run, it also creates extreme volatility and risk for many inexperienced investors. An environment in which one can practice investment strategies risk-free could be invaluable.
HenisBenJul 14, 2021 at 01 49 am
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