Vision One – The legacy of Voo, Zeniq and Safir: New cooperative, old patterns?

Despite technical problems, unanswered questions and the insolvency of former companies, the Vision One project currently presents itself as a fast-growing cooperative with global ambitions. However, internal communications and new product announcements raise critical questions about its economic substance, legal classification and structural links to former crypto platforms such as Zeniq and Safir.

Between a new beginning and reuse

Officially, Vision One Genossenschaft positions itself as a new, collectively organised project. Presentations for members mention over 5,000 shareholders, promising participation in innovative offerings such as the BondEXone bond marketplace and the Copper One raw materials project. A return of the flight booking app Voo Travel is also announced.

But this new beginning raises questions. Numerous elements, from the structure to referral marketing to bonus promises, are strikingly similar to the structures that characterised earlier crypto distribution systems.

VOO insolvencies remain unmentioned

As documented by the research portal BEKM.eu, VOO Aviation Service GmbH and VOO Flights GmbH were declared insolvent on 2 July 2025. These companies were among the central pillars of the original ‘Voo’ concept.

There has been no mention of this in Vision One’s internal communications to date. Instead, there is talk of a ‘reorganisation’, technical failures are played down, and queries about customer credit balances or outstanding services remain unanswered.

Copper as an argument – but without proof?

The ‘Copper One’ project advertises the concept of ‘real value coverage’: investors are supposed to be able to purchase shares in physically existing copper that is allegedly stored securely. However, publicly available information on storage locations, legal ownership or independent audit reports is not yet available.

Instead of reliable evidence, marketing narratives dominate: rising commodity prices, global shortages, investment opportunities. This rhetoric draws on familiar sales mechanisms, such as those used in previous token-based projects.

Zeniq? Not officially – but somehow it is

Vision One emphasises that it is not affiliated with earlier platforms such as Safir or Zeniq. Nevertheless, it is precisely these sales networks that are being targeted through so-called ‘legacy incentives’: anyone who updates their old account by mid-July will allegedly regain access to minting rights, bonus programmes and trading credits.

From a journalistic point of view, clear parallels can be seen here with well-known MLM-like structures, particularly with regard to referral logic, tokenisation of participations and a lack of regulatory clarity.

Conclusion: Nice façade, unstable foundation

Vision One presents itself as a cooperative that aims to combine community values and modern financial technology. However, a look at its structure, marketing and proximity to previous networks shows that the break with the past remains largely formal in many respects.

Key questions, such as those relating to liability, investor rights, economic substance and transparency, remain unanswered. For investors and members, this means that anyone who gets involved should not be guided solely by the new name, but should carefully examine what risks may have been carried over from the past.

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Note: This article is intended solely for information, journalistic analysis and independent opinion-forming within the meaning of Article 5 of the German Basic Law and Section 51 of the German Copyright Act (UrhG) (right to quote). All information is based on publicly available sources, official announcements and careful editorial research. Despite the utmost care, we cannot guarantee the accuracy, completeness or timeliness of the information contained herein.

Sources: Insolvency reports VOO Aviation / VOO Flights:

-KSV1870 – Insolvency report VOO Aviation Service GmbH (as of July 2025)

https://www.ksv.at/en/insolvenzfaelle/voo-aviation-service-gmbh-201717A

– ORF Steiermark – ‘VOO Aviation files for insolvency’ (02.07.2025)

https://steiermark.orf.at/stories/3311830

– Firmenmonitor.at – VOO Aviation Service GmbH (current insolvency file)

https://www.firmenmonitor.at

The images used are from internal communications and are used exclusively for journalistic analysis in accordance with Section 51 of the German Copyright Act (UrhG) (right to quote) and Article 5 of the German Basic Law (GG) (freedom of the press).