Wenyard Review: Stock market trading game?
There is no information on the Wenyard website identifying who owns or runs the business.
The Wenyard website domain (“wenyard.com”) was registered on the 23rd of September 2013, however the domain registration is set to private.
Wenyard’s website does have an “about us” page, however the company only provides the following marketing copy:
Over the recent years, the two small European countries of Malta and Gibraltar have become the heart of the global online gaming world. Many of the world’s most famous gaming companies reside in these places.
In the pubs and in restaurants the brilliant minds of the IT developers, the business management and operational staff meet to enjoy the vibrant life of the Mediterranean.
During these meetings and informal talks, some of these brilliant young people decided to create a new game. It should be based on different levels of skill, real world events and the dynamics of the real financial world.
A whole new concept based on virtual stock trading with real life input was to be invented.
Out of the collaboration between several brilliant businesses and IT developers Wenyard was born.
Riiiight.
A parent company name is provided, “Leonard Virtual Property Ltd” operating out of Gibraltar, however this company is not mentioned anywhere else on the internet outside of Wenyard’s website.
The address provided for Leonard Virtual Property Ltd is that of “HLB Gibro Group”, who advertise on their website that they can ‘can help you incorporate and manage onshore and offshore companies in almost any international jurisdiction‘.
For all intents and purposes it would appear Leonard Virtual Property Ltd is little more than a virtual operation.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The Wenyard Product Line
Wenyard has no retailable products or services, instead affiliates pay a participation fee and then can play what the company calls the “Wenyard Trading Game” (NASGO).
The game engine in Wenyard is developed by a group of people who have worked in the financial sector for many years.
It is built so that actions in the game creates different reactions in exactly the same way as in the real financial world.
There is a stock exchange, you can trade in commodities and real estate, there are investments with high risk and low risk. Several days per week you receive the trading newsletter “WenNews”.
There you can read about events that may affect the financial performance, such as political moves, new regulations on environment and finance issues, acquisitions, innovations, start-ups and more.
You can play Wenyard on your computer, on your tablet and on your mobile. Wenyard is always close to you.
How this integrates into the MLM opportunity is not clear, however “Wenyard Future Options” would clearly appear to be the selling of unregistered securities to Wenyard affiliates.
Wenyard Future Options are shares that affiliates can purchase
(provided with affiliate membership), trade amongst themselves and cash out.
The Wenyard Compensation Plan
The Wenyard compensation plan revolves around affiliates purchasing membership to the company, and then getting paid when they recruit others who do the same.
There are three levels of affiliate membership within Wenyard:
- Broker – €95 EUR
- Pro Broker – €295 EUR
- Executive Broker – €795 EUR
In order to qualify for commissions, an affiliate must have personally recruited at least two new affiliates (with one on either side of their binary).
Momentum Recruitment Bonus
When a Wenyard affiliate recruits a new affiliate, they are paid a bonus in Wenyard Future Options (WFOs), equal to the amount issued to the affiliate they just recruited.
How much WFOs a newly recruited affiliate is issued depends on how much money they pay for Wenyard affiliate membership:
- Broker – €100 worth of WFOs
- Pro Broker – €600 worth of WFOs
- Executive Broker – €2400 EUR worth of WFOs
Note that due to the fluctuating “value” of Wenyard’s WFOs, the amount of WFOs issued per affiliate signup will vary.
The Momentum Recruitment Bonus is available to new Wenyard affiliates and is active for 72 hours upon payment of their membership fee.
The timer is extended when an affiliate recruits a new affiliate as follows:
- Broker – extra 24 hours
- Pro Broker – extra 48 hours
- Executive Broker – extra 72 hours
Note that if an Executive Broker personally recruits at least nine affiliates whilst their Momentum Recruitment Bonus is still active, they are awarded 10% of the Momentum Bonus generated by their personally recruited affiliates.
Binary Commissions
Residual commissions in Wenyard are paid out using a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (right and left):
Sales volume is generated on either side of the binary when new affiliates are recruited and pay their affiliate membership fee:
- Broker – 100 points
- Pro Broker – 300 points
- Executive Broker – 800 points
Points are tallied up on either side of the binary each week and paired using a 2:1 ratio, with a minimum pairing requiring 400 points on the weaker binary side.
This equates to 400 points on the weaker side and 800 points on the stronger side, which when paired generates a €40 EUR commission.
Volume is flushed once paired, and rolled over for a maximum of six months if it is not paired that given week.
Wenyard cap weekly affiliate binary commissions at €100,000 EUR.
Matching Bonus
Wenyard offer a Matching Bonus on the binary commissions earnt by recruited affiliates.
How much of a Matching Bonus is paid out depends on how many affiliates an affiliate has personally recruited:
- personally recruit 3 affiliates = 10% Matching Bonus on personally recruited affiliate’s binary earnings
- personally recruit 6 affiliates = 20% Matching Bonus on personally recruited affiliate’s binary earnings
- personally recruit 9 affiliates = 20% Matching Bonus on personally recruited affiliate’s and their personally recruited affiliate’s (level 2) binary earnings
Oneliner Bonus
Wenyard’s Oneliner Bonus appears to be a straightline bonus that pays out commissions once a set number of recruited people have joined the company after you.
- 250 affiliates join after you – €5 EUR a week
- 500 affiliates join after you – €50 EUR a week (must have recruited at least 3 affiliates)
- 750 affiliates join after you – €75 EUR a week (must have recruited at least 3 affiliates)
- 1000 affiliates join after you – €100 EUR a week (must have purchased a Pro Broker affiliate membership and recruited at least 6 affiliates)
- 1500 affiliates join after you – €250 EUR a week (must have purchased a Pro Broker affiliate membership and recruited at least 6 affiliates)
- 2500 affiliates join after you – €500 EUR a week (must have purchased an Executive Broker membership and recruited at least 9 affiliates)
- 5000 affiliates join after you – €750 EUR a week (must have purchased an Executive Broker membership and recruited at least 9 affiliates)
- 7500 affiliates join after you – €1000 EUR a week (must have purchased an Executive Broker membership and recruited at least 9 affiliates)
- 10,000 affiliates join after you – €1500 EUR a week (must have purchased an Executive Broker membership and recruited at least 9 affiliates)
- 15,000 affiliates join after you – €3000 EUR a week (must have purchased an Executive Broker membership and recruited at least 18 affiliates)
Commissions Withheld
Note that only 70% of a Wenyard affiliate’s commissions are paid out, with the other 30% going into a mandatory account that must be spent on WFOs.
Joining Wenyard
Affiliate membership to Wenyard is available in three options:
- Broker – €95 EUR
- Pro Broker – €295 EUR
- Executive Broker – €795 EUR
Conclusion
The basic thrust of the Wenyard MLM opportunity is that affiliates buy in for between €95 to €795 EUR, which how much they spend directly affecting what they earn, and then 30% of any commissions generated being used to assign value to the company’s virtual WFO currency.
On their own WFOs have no inherent value, so the options are thus solely pegged to how much money affiliates are depositing into the system.
Pretty much what it comes down to is the amount of shares being generated (via membership purchases, the Momentum recruitment bonus and mandatory 30% repurchase), not exceeding 30% of their commissions affiliates are forced to spend on them.
The stock market game the company has attached is little more than a gimmick, having nothing to do with affiliate commissions, how they are paid or revenue generation (other than Wenyard being able to directly manipulate the dollar value of WFO’s, irrespective of the money being spent on them).
Undermining this Ponzi investment layer is a relatively simply pyramid scheme, with affiliates paid to recruit new affiliates, and able to increase their commissions based on how many new affiliate investors they bring into the scheme.
Both layers rely on a constant influx of new affiliate money to sustain themselves, with the WFOs investment side particularly vulnerable as WFOs are presumably able to be cashed out. If the WFO value drops below a certain threshold and triggers a mass sell off, the entire system collapses.
And unless I’m missing something, the Oneliner bonus is going to drain the scheme of funds pretty quickly once the admin and his or her friends start to hit that 10,000 – 15,000 affiliate mark (and thereafter everyone under them).
Of course Wenyard can just assign a close to $0 value on the options from their end (and pass it off as some “feature” in their game), meaning (newly-invested) affiliates will bear the loss.
Also of note is the involvement of Towah, who are best known in the MLM industry for withholding millions of dollars in Bidify (now MyCenterBid) affiliate funds.
The payment processor has also run into some potential regulatory issues in the UK, after one bank grew fed up with the company’s lack of payment and requested the FSA investigate.
Given the obvious hybrid Ponzi / pyramid scheme nature of Wenyard’s business model, I can’t help but put a big question mark over Towah’s involvement as a payment processor. Couple that with the anonymous ownership of the company and that only raises more unanswered questions.
Approach with extreme caution.
A comment in a Norwegian forum said “Maybe it can be the next WGI?”. It’s probably someone who has tried to copy World Games Inc. (2003-2004), a pyramid scheme organized by the Australian Gregory James Kennedy.
I’m not very familiar with WGI, but it managed to recruit 200,000 Norvegian investors in 2003-2004 as “the next big thing on the internet”, a provider of online money games with the whole world as a market.
Wenyard is presenting the share options as a “virtual game”, i.e. “earn real money in a virtual market”. That’s a major difference from WGI, so I believe someone have misunderstood the whole idea here when they tried to copy the program.
Normally, people will NOT spend their hard earned money on virtual shares. Most people know that virtual shares are worthless.
WGI sold ITSELF as a company, i.e. people bought the options because they later could be converted into real shares at an IPO (Initial Public Offering). The owners of the options would get real shares in the company, while other investors would have to buy shares at full price.
The internal stock exchange in WGI was intended to make the options tradeable among the investors, so the options could rise in price. It provided a system where people could SEE the options rise in price, a system where they could cash in some profit by selling some options.
Wenyard seems to have focused on the technical solution rather than the whole IDEA. The whole idea was about virtual options that later would be converted into real shares in the next big thing on the internet.
I believe the “brilliant minds” of the management is the main problem in Wenyard. 🙂
“Pubs and restaurants” may have contributed to the problem too, along with “the vibrant life of the Mediterranean”. People really feel like “brilliant minds” after a few beers.
In short, Wenyard will most likely fail rather quickly. Ideas will often fail when self proclaimed “brilliant minds” are involved.
SELF DEVELOPMENT IDEAS?
Wenyard seems to reflect some flawed self development ideas, e.g. some ideas about “affirmations” (“always tell yourself how brilliant and smart you are”), some ideas about finding a mentor and copying each and every detail of his work.
Ideas like that will normally not work very well.
FROM A SWEDISH FORUM, SOME DETAILS
Wenyard is probably also selling additional WFOs, if people want more WFOs than they will get in the membership packages.
The WFOs will have fixed variable prices in the pre launch period:
1st week €0.10 (week 43 2013, October 21st)
2nd week €0.30
5th week €1.00 (we are here now)
10th week €2.00
12th week €3.00 (final price before launch)
The idea here was probably to stimulate people to join as early as possible (and as fast as they can without thinking).
Link to the Swedish forum:
https://www.flashback.org/p45867829
THE RESPONSE IN THE MARKET … has been extremely low.
The TalkGold forum has 1 post / 0 replies
The MoneyMakerGroup forum has a few replies
The Swedish forum has 1 reply
A Norwegian forum has posted Wenyard in the forum group “Hobbies”, and has received a few replies. 🙂
It looks like the program lost all of its momentum after the first 2 weeks.
WGI had an experienced con artist, Gregory James Kennedy, rather than those self proclaimed “brilliant minds”.
SELL THE WHOLE IDEA, NOT THE TECHNICAL “SYSTEM”
I have read some old forum posts about his “honest eyes” and the arguments he used, e.g. the idea that parents or grandparents could invest money in the names of their children or grandchildren. The “system” would then make the value of the options grow, and give their children or grandchildren a solid financial platform at the age of 18.
Gregory James Kennedy didn’t sell the idea of a “virtual game”, he sold the idea of GROWING VALUES in the next big thing on the internet, the idea of OWNERSHIP in a money making machine with a nearly unlimited potential.
Self proclaimed “brilliant minds” will typically focus on the system itself and will try to make a COPY of it. They may also try to make a “better copy” than the original, e.g. offer slightly more rewards than the original.
Another difference is that Gregory James Kennedy focused on “ordinary people” rather than typical pyramid scheme participants.
Ordinary people will accept investment ideas, but they will not accept ideas if they primarily are revolving around recruitment. “You don’t need to recruit anyone” is vital if you want to recruit ordinary people.
FOCUS ON ORDINARY, TRUSTWORTHY PEOPLE
WGI recruited people from all walks of life, rather than typical recruiters. It recruited a former police man as one of the “World Leaders”, the top positions under the “Master Distributor” level.
Tor Anders Petterøe (TOWAH) was another of the “World Leaders” in WGI. Rumour says that he has contributed to Wenyard’s plans, but that’s probably about technical details for the system itself. He has also delivered the payment solution. I don’t believe he has been very deeply involved, he has probably only delivered some information and his own solutions.
but do ponzi also in the Scandinavian countries? Sweden and Norway are the top countries that enter wenyar, in short, are scams everywhere it seems so sad: (
Ponzi and pyramid schemes are available everywhere, but they will require some size of the population to work.
The interesting fact is that a majority of the population will become “immune” to new schemes of similar type, they won’t fall for the next scheme. A minority will become “addicted”, they will join new schemes.
You can analyse some old schemes and see what TYPE of ideas people can fall for, e.g. people were willing to believe in “the next big thing on the internet” idea.
People are the same all over… even stupid people. It’s just random chance that you’re born here instead of there. It’s “God’s lottery” if you want to think of it that way, doesn’t make you better or worse.
With modern communication methods, scams are everywhere. “Nigerian Scam” now reach email inboxes all over the world, when it used to be just fax machines during the 1990’s.
With Liberty Reserve (RIP!) scammers can setup HYIP in minutes with existing website and ready-made script. They just need some new ad copy and change some minor details.
This review can actually be interesting for “educational purposes”, i.e. it can show where and why some ideas will work and fail.
I’m not very familiar with WGI, but I believe the idea about a virtual stock exchange was intended for REAL companies rather than for virtual ones. Virtual options was only a part of the idea, not the whole idea.
I have looked at Wenyard’s idea and I have tried to analyse it briefly. And then I have recalled some forum comments from memory about WGI’s idea. There’s huge differences between those two ideas, even if the technical solutions are relatively similar.
The so called “brilliant minds” have probably been too affected by their OWN ideas about how things work.
WGI revolved around the idea of ownership in the next big thing on the internet, with a virtual stock exchange as a part of the system where the options would rise in price and value, where everyone could make money even if they didn’t recruit anyone. They would make money from the end result, from the ownership in a money making machine.
Wenyard revolves around the idea of a virtual stock market GAME with no prospected end result. There’s no idea of real shares in a real company visible anywhere in the plan. The only ones who will be rewarded are the recruiters, and they will primarily be rewarded with virtual values.
Wenyard’s idea is missing the part where everyone can make money from ownership in real companies, companies that eventually would be traded on real stock exchanges. That part of the idea is rather VITAL if you want to sell the idea to ordinary people.
I have pointed out that the so called “brilliant minds” seems to have been affected by some specific ideas, e.g. from American selfdev books.
* The mentor idea is one of those ideas. “You don’t need to invent new ideas from scratch, you can just copy and improve existing ideas from a mentor”. The idea sounds rational enough, but it will normally not work very well in reality.
* It has been affected by probably hundreds of motivational ideas. Ideas like that are typically about very one sided methods to see the realities, e.g. “positive mindset”, “self suggestions”, “affirmations”.
* It has been affected by network marketing ideas, e.g. the idea that people who join early should be rewarded, people who recruit other people should be rewarded handsomely at the expense of people who don’t recruit.
In short, ideas from selfdev books and other sources seems to have dominated the whole project.
The idea of “everyone can make money, they don’t need to recruit anyone” was a rather VITAL part of WGI’s ideas.
People must be misled to believe they’re actually are buying something of REAL VALUE, e.g. virtual options that eventually will be converted into real shares in a real company, a legitimate investment that will rise in value and generate yearly profit for years to come, and will eventually be traded in a real stock exchange rather than in the virtual one.
That was the very CORE of WGI’s ideas. “Make people BELIEVE it’s about real VALUES”. The whole program was built up around that idea. It wasn’t built up around a virtual stock exchange idea, that was only a technical solution.
CONCLUSION
The CORE of WGI’s ideas was “Give people IDEAS they can believe in and WANT to believe in, ideas similar to ideas they already have, or new ideas that can extend ideas they already have accepted”. Virtual options can only meet those criterias if people BELIEVE they eventually will lead to real investments.
That’s the core of ANY misleading or fraudulent idea. They must simply reflect something people already are willing to believe in, and something they feel ATTRACTED to.
Self development ideas work in a similar way. They will reflect ideas people can be attracted to and can be willing to believe in. They don’t need to reflect the reality, i.e. those ideas don’t need to work in the long term. People will often convince themselves that the ideas really works, i.e. they will interpret the realities in favor of of their own ideas.
Wenyard seems to have been heavily affected by self development ideas, i.e. The CORE IDEA has been replaced by some identifiable motivational ideas that probably will fail.
A core idea should typically be about motivating people to JOIN, rather than about motivating people to RECRUIT. The so called “brilliant minds” in Wenyard don’t seem to know the difference.
The organizers here are people who believe in a rather onesided combination of selfdev ideas and network marketing ideas, e.g. the focus is placed on how to motivate people to increase their own recruitment efforts rather than on how to attract the victims.
That’s an extremely “one sided” and “narrow minded” way to interpret the realities. It can be identified as ideas commonly repeated by network marketers as a part of their belief systems.
In reality, victims will NOT be attracted by the recruitment efforts, they will be attracted by their own ideas about something.
Wenyard is reflecting that it has been organized by “network marketing addicts”, by “true believers” with very limited sets of experience, using their OWN ideas rather than looking at the realities.
That’s the idea!
Which one of them?
I analysed WGI’s ideas briefly, where “honest eyes” Gregory James Kennedy sold the idea of long term investments in a legitimate money making machine with nearly unlimited market.
I also analysed some selfdev plus network marketing ideas, where the idea of success revolves around your own personal motivation and recruitment efforts. That idea is rational enough if you understand its limitations and can use it correctly.
The first one will focus on creating an idea the VICTIMS can believe in and feel attracted to (making the victims eager to join and invest their own money). It will focus primarily on an IDEA people can believe in, to ATTRACT investments from all types of people.
The second one will focus on ideas the RECRUITERS can believe in and feel attracted to (making the recruiters eager to increase their own recruitment efforts). It will focus primarily on a reward system, to STIMULATE recruitment efforts.
They will use different types of sales arguments. The first one will use arguments like “Try to imagine what your investment will be worth in a few years”. The second one will use arguments like “Look at the compensation plan and all the rewards it will pay you for recruitment”.
Analysing more “brilliant mind” ideas found on the Wenyard website …
The “brilliant mind” will often become rather dysfunctional after some time, e.g. it won’t be satisfied by simply creating a program that works, it has to be a program that knocks out anything previously seen in the market, something people will remember for years to come as “God’s Gift to the World”. 🙂
Like I pointed out in a few previous posts, the MAIN focus is on the reward system rather than on a BUSINESS IDEA people actually can believe in.
The business idea is VAGUE. It’s about buying virtual options in a GAME, but it’s difficult to find out WHY you should invest your hard earned money for that purpose, e.g. HOW that investment eventually will become profitable.
ZeekRewards sold a COMPLETE business idea = daily profit sharing from a penny auction website, with some ideas to make the profit sharing become “product purchases” and “work” rather than investments.
People didn’t have any problems identifying HOW the bid purchases would become profitable. If they first believed in the penny auction idea, the rest of the system would expplain itself.
Wenyard’s idea is extremely vague. You must add something from your own imagination to believe in that idea.
I tried to search for some background information for WGI, the original to the current Wenyard copy. I searched for “Gregory James Kennedy”, and I found some information of interest.
1, An old forum post by S. Holmes, one of the contributors on this site (post #4):
http://www.webproworld.com/webmaster-forum/threads/47026-Pleas-review-my-site-https-www-aspiritus-com-rope77
That post contains a lot of background information and links. I haven’t had time to check it, I have only had time to look at WHERE to find info.
2. The Norvegian newspaper dagbladet.no did some investigation in Companieshouse.gov.uk when WGI was “sold” to another company in 2005. It was actually “sold” to one of the other organizers, Jost Vincenz Steinbruchel from Switzerland.
Link (disabled):
dagbladet.no/nyheter/2005/04/01/427654.html
3. The Norwegian newspaper dagbladet.no posted a story in May 2005 about a court decision in Western Australia. WGI’s predecessor World Games Services was declare to be an illegal pyramid scheme in Seeptember 2004. The decision was upheld by a higher court in Brisbane in 2005, by Justice Tamberlin.
Link (disabled):
dagbladet.no/nyheter/2005/05/10/431370.html
To understand the COPY (Wenyard) for whether it will work or fail, we will also need to look at the ORIGINAL (WGI) for how it worked and failed.
Most of the links there were “dead”, but this one contains a rather detailed description of WGI’s “modus operandi”, described by the court:
http://www.austlii.edu.au/au/cases/cth/federal_ct/2004/1138.html
So this “pre-IPO virtual options” idea was quite old… It was recycled by Interush in China and Hong Kong, and partially by Vantone in China (helped along by Ming Xu of WCM).
(Ozedit: offtopic derail attempt removed)
Have they ever launched a business or a company that is experiencing hyper growth?
Do they actually have any idea of what is required, why you may want to keep a low profile as you prepare everything for the launch and ensure you meet your commitments for the launch date?
Are they saying that the 20,000 people who joined Wenyard the last 5 weeks are all gullible, unintelligent, naive and can in no way make an informed decision yet the owners of this site and others making negative remarks are more informed?
Do these same people actually know their facts?
Did Towah take the money from Bidify members?
NO….this is actually factually incorrect but too often people are not interested in facts…just sensationalism.
Do the people making comments actually know the fine details of all the contractual relationships, who owns the IP, who contracts to the company, where their funding came from, etc?
Obviously NOT, and being a private company they do NOT need to disclose this because in the hands of the wrong people (and those who hide behind anonymous names and webpages) will take that information and twist it to promote their own agendas.
So before you take everything on this site as “someone’s truth” do YOUR OWN informed due diligence, and if you are NOT comfortable to join before everything is disclosed then don’t join and wait.
It just may be that NOW is NOT the right time for YOU to join but 20,000 people growing at almost 800 a day ARE choosing to get involved and they don’t need misleading posts and websites to sway them.
As the owner of an MLM company, there’s only one reason to keep a “low profile” – that being you’re probably doing something you shouldn’t be. Or you’re worried people won’t sign up to your latest scheme because of something MLM-related you did in the past.
So uh, why is Frode Jorgensen running proclaiming otherwise?
Discussion starts here – https://behindmlm.com/companies/bidify/nbs-push-for-norway-fsa-towah-investigation/#comment-190645
Does any of that have anything to do with Wenyard’s business model? No.
By all means fail to disclose who is running Wenyard, it’s still a huge red flag that anybody considering affiliate membership should take into consideration.
Wholly agreed. Then ask yourself how running an investment-based virtual stock market “game” attached to a recruitment-driven MLM opportunity is going to play out with regulators.
* And you know the “20,000” figure to be correct, how, exactly ??
* Since November 19, Wenyard has featured on all of the “usual suspect” HYIP ponzi forums, indicating a large amount of “members” will be confirmed HYIP ponzi players who simply don’t care about legality or logic.
* That fact alone tells you all you need to know about the chances of Wenyard a) being legitimate and b) lasting more than a few months at best.
History tells us no legitimate business has ever appeared on any of the HYIP ponzi forums.
Even if Wenyard WAS legitimate, once the HYIPers get in there, it’s dead in the water.
The owners of Wenyard are NEW to MLM but are aware of how demanding a pre-launch period can be and how demanding members can be wanting to tie up the time of the corporate team. Wisely they appointed top leaders to build the member base while they put together all their management team, set up offices, hired support staff, ensured all the patents are finalised, and ensure the development of the game is completed and fully tested by launch time.
I have ALSO been an owner of MLM companies with 24 years experience in the industry as a distributor, consultant, corporate executive, and developer of IT solutions so I DO have first hand experience of what it takes to launch a company.
The owners and management WILL make themselves visible in the near future and all these concerns will be addressed.
However I have known owners of companies personally, ate meals with them, enjoyed vacations with them, been in their homes, toured their facilities and they and MANY still closed down, did NOT operate their company ethically, still ripped off people…..so knowing who runs the company is irrelevant.
To be honest the companies where I had NO or little relationship with often are the ones that are still doing well. I also have very strong business relationship with people who I deal with virtually who I never met in person and in most cases had more integrity and were more trustworthy that those who I knew in person!!!!
As for the business model I always like to bring thing back to simple facts
1. Do people pay money to play games online?
2. Do people pay money to attend educational courses or buy software to learn how to trade in shares, forex, commodities and property?
3. Is it legal to set aside part of a sale to pay commissions to people who sell a product or a service
Answer: YES to all 3
If they still believe it’s a pyramid scheme just politely say, “I don’t think this for you. Thanks for looking anyway. If you change your mind let me know”
How do I know how many members are in Wenyard? I look in my back office and I can view my team in real time. Full transparency.
As for Towah and Bidify it is interesting. I had some Bidify leaders that made all these statements of how Towah ripped them off. I know the owners of Towah for 7 years, have used their payment solutions, so I offered the Bidify people the opportunity to speak to the Towah owners directly and guess what….NOT ONE of them them took up my offer. The owners of Towah were happy to address their queries and explain the FACTS.
Like the FACT that the BANK froze millions of Euros of funds Towah had with this bank when thousands of people in Bidify decided to charge back their purchases. These members did NOT hand back their earnings they did receive but were happy to charge back their purchases when BIDIFY radically changed their business model.
The FCAT is the bank is expected to release the funds next May and those owed money will get their money….but then again people are not interested in FACTS! They just like to make a lot of noise to push an agenda or pass the blame on to someone else.
Did they stop to think of what impact it had on Towah to suddenly have a massive amount of chargebacks, have millions of Euros frozen, and much more….but instead of rolling over, Towah invested MORE money into their business and became stronger!
(Ozedit: offtopic derail attempt removed)
My comments have mostly been about WGI (World Games Inc.) and Gregory James Kennedy. And I have clearly identified that I’m not very familiar with it, e.g. I had to recall some old forum posts from memory.
I had 10 of the first 14 posts (you had #15). I don’t believe I have touched what you’re writing about or anything related to it. You’re probably making up your own imaginary problems to have something to complain about? 🙂
Here’s the answers:
* No, I don’t know all the fine details.
* No, I don’t know who owns the IP. Probably owned by an ISP?
* No, I done know about the contracts.
* No, I don’t know where the funding came from.
If you really feel any of those points are important, please feel free to share your information about it. You will be the first one to focus on those points.
@Michael
Who are the owners of Wenyard? Withholding this information from prospective affiliates is not good enough. They might be new to MLM but that’s not an excuse.
Then you should know better. Hell, we shouldn’t even be having this conversation about what is the obvious sale of unregistered securities behind a stock market game facade.
After they’ve got as many people to invest as possible? Not good enough.
None of those have anything to do with getting people to invest in stocks with an attached MLM compensation plan.
If the above is what Wenyard are basing their legitimacy on, they’re in for a rude shock…
Has this been released in writing by Towah? It’s news to anyone following I’m sure.
One final note on your repeated derail attempts, BehindMLM is not an MLM business opportunity. Trying to strawman argument your way out of Wenyard’s owners hiding themselves is offtopic.
I have no idea what you are referring to in regard to repeated derail attempts. You said you are an owner of a MLM and present yourself as an authority making a lot of strong views.
(Ozedit: Offtopic derail attempt removed. BehindMLM is not an MLM business opportunity.)
Yeah so uh, that never happened. Final warning.
As a company owner surely you should know that there are very sensitive negotiations, agreements, and discussions that are based around the whole Bidify-Towah situation.
Just because it is not all made PUBLIC KNOWLEDGE does not mean that Towah is not working hard to solve the situation. Remember Towah was also caught up in this matter through the actions of thousands of Bidify members in North America only concerned with getting their money back with NO thought of the consequences.
So if anyone wants to blame anyone for their funds in Towah being frozen by the bank blame the members who charged back their transactions who caused the situation or look at the company that radically changed the business model that led to the chargebacks.
The point is DISCLOSURE is not always in everyone’s BEST INTEREST!!!
No the point is, along with making up stuff about myself, that nothing you’ve said about Towah can be verified.
Meanwhile millions of dollars have disappeared and neither Bidify, MyCenterbid or their affiliates have any answers.
As for disclosure, hiding the ownership details of an MLM company is never in the best interest of anyone except the owner(s). It is terrible advice to suggest people hand money over to unknown entities.
So, in your world, discovering you have inadvertently become involved in a HYIP ponzi fraud and ensuring you get your money back is somehow reason for criticizing, is that what you’re contending ??
And that is the difference. I do have first hand experience because we were using Towah as a payment solution at the time of the Bidify situation and our company and many others were impacted by what happened to Towah.
I DO know the owners of Towah personally and in 7 years have NEVER had one incident where they gave me reason to question them. As I said I offered Bidify leaders the chance to have a person call with the owners of Towah and none took it up. Towah was happy to talk about it with key parties concerned and address their concerns.
Again…..you will see full details of the ownership of Wenyard and if people are NOT happy to join without those details then DON’T join now and wait. The point is let people decide and give them the credit that they are intelligent enough to make their decisions.
NOT AT ALL….what I saying is people are saying Towah stole their money. What I saying is the BANK froze the funds because of the chargebacks. Let’s just make sure the FACTS are told and opinions and statements are made on accurate information.
So Towah is disclosing information to you, a client, about their other non-related clients? Information that they feel is too sensitive to even share with said client or the affiliates whose money has disappeared?
Right. I don’t think I need to further elaborate on the boatload of “I can’t believe it’s not butter!” there.
Clearly if the sole reason for people’s money disappearing was chargebacks, then it’s not sensitive information. To date Towah has publicly diclosed nothing. What kind of BS excuse prevented them from taking thirty seconds to draft out a PR and explain to people where their money went and what the current situation is?
Shit doesn’t add up B.
If they are accepting money and affiliates signups from the general public, I reiterate that this answer is not good enough.
I wholly agree. However it is impossible to make an informed and educated decision on whether to join an MLM opportunity without full disclosure of who the owner(s) are. This is basic MLM 101.
Wenyard (or Michael Faust himself) seems to have been inspired by CarbonCopyPro. He’s partly trying to copy some of CCPro’s arguments and methods.
I identified something similar to that in post #8, something about one sided ideas. But there I wasn’t able to identify any specific program, only the TYPES of ideas the organizers had been inspired by.
@Oz
Someone has copywrited your article here …
downline4life.com/wenyard-review-stock-market-trading-game/
“Change a few words here and there, and Voila! A brand new article”.
Copywriting is a marketing idea. People are using it to be picked up by search engines for specific keywords. Normally it isn’t about the content of the article, but about the potential SEO value it has.
I don’t need to be inspired by anyone else. Quite capable of creating my own commentary 🙂
Two or three months and it will be slapped by Penguin or Panda. They aren’t the first autoblog to rip off content here.
I had archive duplicate content issues myself that I only sorted out a few months ago. Noticed it when my articles weren’t showing up but the scrapers were. We should see BehindMLM gain rank strength over the coming months.
You simply reflected some selfdev ideas and some common ideas used by network marketing addicts, e.g. the mentor idea and the “fake it till you make it” idea.
You have probably got some ideas from former CCPro people, e.g. Aaron & Sophia Rashkin, Michael Force, or someone else (I’m not able to recall the names now).
Michel Faust is claiming that the reason why Bidify members are not receiving the money they are owed by Bidify, is that ‘the BANK’ has frozen money that Towah has in this bank.
So Mr. Faust claims that neither Bidify (= Frode Jørgensen) nor Towah (= Tor Anders Petterøe) are responsible for this situation, but that the fault lies with ‘the BANK’.
As Mr. Faust are making these allegations, he should state WHICH bank he is referring to. If not, his allegations must be regarded as just loose talk, and probably a lie, thrown out to mislead people about who the culprits are.
However, if Michael Faust is referring to the bank Newcastle Building Society (NBS), the following should be noted:
According to an article in the Norwegian major newspaper Dagladet ( dagbladet.no/2013/10/09/nyheter/towah/utenriks/tor_anders_petter/pyramide/29687410/ ) NBS has written a letter of complaint against Towah to the British Finincial Services Authority (FSA).
NBS complains that Towah owes 2.3 millon Euro to NBS, which has not been paid. This money has been paid out to Towah customers by NBS, and has not been reimbursed by Towah.
Additionally, NBS requests that FSA should investigate Towah, and that Towah Group Ltd shall be declared bankrupt.
So, if Michael Faust is referring to Newcastle Building Society, the situation is in fact the opposite of what mr. Faust claims: ‘The Bank’ doesn’t owe money to Bidify and its customers; Towah owes money to the NBS bank.
It always amazes me how you all have so much time to sit around coming up with all these theories and assumptions. Frankly I don’t have time for this. While you are busy trying to pick holes in everything I’ll be focusing on making a positive impact in people’s lives.
When was the last time you actually did something that contributed something that actually changed someone’s life for the better, changed their circumstances. It is easy to sit on the sideline and throw comments but I’d rather get on the field helping a team of people achieve their goals.
You write like you think you know all about me and feel you have a right to throw your unfounded comments around with total disregard. The fact is you know absolutely NOTHING about me, my motives, my intentions, my values, my beliefs, or what I do each day to make a difference in the lives of others.
It’s the reason I gave up commenting on forums and sites like this because it just attracts people who love to pull others down to life themselves up.
I don’t see you denying them either. 🙂
That’s the danger of network marketing… Pretty soon all the rah rah marketing talk sound all alike. 😀 Esp. the BAD ideas… And you used quite a few of them.
Bad ideas like: 800 people a day are joining
You do know that’s called “bandwagon fallacy”, right? Just because more people believe it doesn’t make it true.
Bad ideas like: people who already joined don’t need “misleading” websites to sway them
What makes you say those who already joined were not mislead into joining in the first place?
Bad ideas like: I say Towah’s funds are frozen by the bank for chargebacks and it’s not Towah’s fault
Do you have public proof of this? If not, what makes your opinion more valid than any one else’s?
It is, however, not my intent to insult you, but to… inspire you to make more LOGICAL arguments of your points, rather than those “PR talk” that we’ve seen before. And we’ve seen lots.
The points you tried to make have been made by plenty of people before for various other schemes.
The comment was founded in some of the other posts, including your own posts.
And I didn’t write anything about it either. I don’t see any of those topics as something worth discussing. However, I can guess that most of it revolves around recruitmment driven income opportunities? You don’t need to answer that.
Exactly where did you find that “pull others down” thing? My comment was rather neutral, and the examples I used should normally not offend anyone. I used some former CCPro consultants as general examples, and both examples were top producers.
My comment looks less neutral after you removed all the spaces between the words, but you can’t blame me for that.
I interpreted the exaggerated claim “20,000 people in 5 weeks” to be “fake it till you make it” ideas and other selfdev ideas. That number of participants is CLEARLY not reflected on the internet.
Some of those ideas are rather dysfunctional, i.e. people will mislead themselves more than it will affect others.
One person posted a comment more than a year ago, explaining that the “fake it till you make it” idea was to direct focus towards goals (what people WANT to become), rather than about misleading other people. But the idea is rather dysfunctional for that purpose too.
Another person had a more complicated description, involving some “Law of Attraction” ideas, where the focus people had on success should attract other people. People should focus on their own goals of becoming successful leaders, and that should apparently attract followers. The idea didn’t work very well.
(Back to topic)
It’s difficult to find more information of interest about Wenyard. Michael Faust has a couple of videos on Youtube, but I believe that’s about his personal marketing of Wenyard rather than about Wenyard in general.
There’s too little response in the market to find more information to add (I have mostly found marketing material).
(post #35)
I have relatively realistic and normal ideas, i.e. I’m not into the “changing people’s lives” business. I haven’t tried to give the impression of it either.
If your idea of changing people’s lives involves recruitment driven income opportunities, you’re only misleading yourself. That type of “life changing activities” will mostly have negative effect in the long term.
The topic here should be about Wenyard, i.e. I’m not very interested in discussions about “life changing” over several posts.
hello cm ² is true there are about 30,000 people since he was born weynard members, administrators were presented at a convention in Italy.
Some have taken a lot of money even in pre launch with the gift cards 20,000 30,000 Euros, and accumulated shares to 500,000 euros to play in the virtual stock market, while continuing to write hypothesis.
There people who are becoming rich as possible? the fact that it is a ponzi no one doubts, the speech that the people here in 1 month earned 30,000 Euros and perhaps it will take a further 250,000, I know money.
How many of those members are imaginary members?
There’s hardly ANY activity from Wenyard members visible on the internet, after the first few weeks. It made it difficult for me to check the program when I first tried to check it, I only found a few forum posts.
In total, I was able to find posts on the internet from 15-20 different people in early December, when I searched for “Wenyard”, not counting any non-members e.g. in forum threads. So Wenyard probably has more than 20 members total. 🙂
The only types of people I have found joining Wenyard are “Don’t put all your eggs in the same basket” types of people, and some inexperienced ones joining their first, second or third program ever.
Michael Faust probably belongs to the first group, i.e. I don’t identify in details.
If I should estimate the number of members, I would have estimated it to be less than 800 English speaking members total, 70-80 days into the pre-launch period.
Those gift cards can ONLY be used to sponsor new members, if I have interpreted it correctly?
People are probably using them to buy additional positions.
If the current share price is €1.50 – €2.00, the number of shares will be 250,000 to 375,000. The first ones to join Wenyard each paid €795 for 24,000 shares (€0.03 per share).
@roberto
Take a look at the Wenyard thread in the MMG forum (disabled link, page #2 in the thread).
moneymakergroup.com/Wenyard-Wenyardcom-t460508.html&st=15
“Mlmpronews” is making a claim in post #9, November 20th 2013, that he earned €4,000 in referral commissions in one day.
His screenshot in post #24, December 9th 2013, shows that he has 13 people recruited, and has €1,668 in mandatory account. We can use that info to calculate his real earnings:
He has earned
€5,560 TOTAL
– €1,668 mandatory account
= €3,892 CASH EARNINGS
– €795 (his initial payment)
= $3,097 NET WINNINGS (after 1 month)
All his other earnings are in worthless shares, but he has probably earned a lot of worthless shares. He has 19,546 shares in the screenshot from December 9th.
€3,097 in net profit for 1 month’s work is rather acceptable (if we assume he’s not working full time promoting Wenyard). But I used this example to show the difference between the claims people are making and the realities = his REAL earnings are only a small fraction of what he claimed to have earned.
I may have misunderstood that in my post #43. It has to be about the “Mandatory Accounts”, where 30% of the payouts are reserved for the stock market game.
€500,000 in mandatory accounts will indicate that the total payouts have been €1.67 million (100%), cash payouts (or gift cards?) have been €1.17 million (70%), mandatory account is €500,000 (30%).
Those numbers should normally indicate around 4,000 members if all members enter at the €795 Executive Broker level.
A problem here is that some of the rewards seems to be paid out as gift cards, and those gift cards can only be used to pay for upgrades or new memberships. A system like that will generate a lot of “false payouts” (no MONEY involved) and “false memberships” (no MONEY involved).
Those gift cards are non-monetary payouts. They can ONLY be used to buy new member positions.
It will be like
1. paying OUT monopoly money
2. using monopoly money to pay for new memberships
3. paying OUT monopoly money (commissions from point #2)
A system like that will make the program LESS able to pay out real money. The program will also get a lot of fake membership accounts = your own investment will be diluted.
hello there are several ewallet riguardande that the value of the wfo (actions) that you are reassessing up to 3 Euros, and where they end ewallett fees from all the bonuses and those who have made the network.
Now just let one of 15 people with pakketti from 795 € to 8,000 € cash with the gift card , that get paid on another processor and then give a code to those who register in order to reverse the gains from network to end up in quell’ewallet 70%.
That is crazy a play like that is generating these large gains in + there is a risk that after 30 days of game virtual one that has accumulated more than 200,000 Euros , or maybe it is able to collect third quarter but cmq earn a lot compared to the 795 € offered initially.
Then there are the photos of the directors, they really are recognized across Europe about 30,000 people is seen from the dashboard, you read the nick of people just signed up.
oh, well i do not know what to think, it was enough to get recruited 9 people a bundle of money seems like many have done.
Ah I love it. One big giant house of Ponzi cards.
Lol, “shares”. We call it monopoly money round here.
Sucks to be one of those 9 people hey.
Does Wenyard use more than one type of e-Wallets?
The normal Towah e-Wallet should be used for monetary transactions (money IN to Wenyard, money OUT from Wenyard).
ANY other types of e-Wallets will not be about monetary transactions, they will be about worthless “monopoly money”.
WFO-money stored in internal e-Wallets are worthless “monopoly money”, they are not worth anything at all. They are only worth something if you can trick someone to give you real money in exchange for the monopoly money, but then you will be doing something fraudulent.
Wenyard SEEMS TO BE rather dead, except for spamming activities = the same people posting duplicated stuff multiple places to promote the opportunity.
It seems to have an unexpected payment delay, but there’s only a few comments about it.
People are using “alternative methods” to get money out of the program, but that can be related to other circumstances than payment delays. From the MMG forum February 24:
When searching for “Wenyard” from Norway, the first 10 search hits have been relatively unchanged since early December 2013.
* 3 of them are inactive local forum threads
* 1 of them is a blog, bragging about his search results
* 1 of them is realscam.com
* 1 of them is Facebook/Wenyard
* 2 of them are Wenyard.hu and Wenyard.es (Hungary and Spain)
* I don’t remember the last 2 search hits.
There IS (or have been) a lot of marketing activity going on, but most of it seems to be about “spamming the internet” = more activity than results. I tried different search methods to look at the activity.
* Last month
* Last week
* Last 24 hours
* Last hour (gave 8 unique search hits, plus many duplicates)
The thread has many views (27,000), but relatively few posts (appr. 120 posts, most of them by the same 2 or 3 people). The low number of posts can be related to that Wenyard isn’t active in the US. It seems to mostly have some activity in non-English countries (e.g. Italy, Hungary, Spain).
In 3 months, I have counted 3 or 4 people who have joined Wenyard through the MMG forum, e.g. by asking questions and then PM’ing other members (or using links in signatures).
A virtual stock market pegged to nothing is failing? Well I never!
2 months later, search results are relatively unchanged.
* 1 of the dead forum threads have disappeared
* 1 new Wenyard Facebook page among the first 10 hits
* etc. (nothing important)
2 of the dead forum threads are topping the list when searching from Norway. Both are Norwegian forums, but the threads have been dead for 6 months and should normally have disappeared.
MMG forum:
177 posts total (around 55 new, mostly updates from TS). One of the most eager posters has quietly disappeared.
It feels like watching the grass grow, e.g. all the excitement we feel when the grass has grown a couple of centimeters since we started looking 6 months ago.
Wenyard made some changes in the beginning of July, e.g. converting WE-coins to WE-shares.
moneymakergroup.com/index.php?s=&showtopic=460508&view=findpost&p=1108872785
“People with bad intentions” probably mean some people trying to get money out of the system. 🙂
It was a very detailed update, and I have only quoted less than 5% of it.
You can’t create money out of nothing, so naturally it’s going to fail.
They’ve taken affiliate’s money and stashed it who knows where, while inevitably the virtual stock market they’ve created goes nowhere.
Hardly surprising given it’s not pegged to anything other than Wenyard affiliate speculation, which in turn is rooted in “we’re all gunna be rich!”
I was about to declare this “officially dead” less than a week ago, when the MMG thread had been inactive for more than 5 weeks (since July 5th), but then it suddenly popped up 2 posts “the long wait is over”.
Wenyard had several warning signs right from the start. It had a vaguely defined market, i.e. it’s difficult to identify any clear idea in marketing.
WRONG TYPES OF IDEAS?
First it tried to attract “early joiners” during a 3 month pre-launch. That method will rapidly slow down after a few weeks, the program will be nearly dead before it even have launched.
Then it tried different “fake it till you make it” methods, e.g. fake income claims and fake growth claims, pretending to look more popular and more profitable than it really was. That idea is designed for a different type of program, e.g. for training based opportunities (CCPro etc.).
In short, it looks like they have used the wrong types of ideas all the way. The marketing doesn’t match the product, i.e. people seems to have applied their own favorite ideas rather than looking for the right ones. That’s rather dysfunctional, it’s like believing the market will think and feel exactly like one self.
I’m not able to identify the right types of ideas either. The NASGO software is an online stock market simulator, if I have interpreted it correctly. Software like that has a relatively limited market in itself.
The software tries to keep the stock prices low (so people will buy stocks). It started relatively high, but it had to reduce the prices because people then tried to sell and didn’t find any buyers (many people want to cash out, very few people want to invest more money, very few new investors have brought in any fresh money since pre-launch).
People can’t withdraw cash, they can only buy more shares or withdraw “recruitment coupons” (giftcards used to buy upgrades, can be used to recruit people).
The first ones to join have probably managed to withdraw some cash. Usually there’s no problem withdrawing cash when a program has fresh money coming in the front door. “Recruitment coupons” will bring in PEOPLE, but they won’t bring in any fresh MONEY from the outside. They will kill the stock prices and eventually kill the program itself.
Wenyard is actually a failed Ponzi scheme (pyramid/Ponzi hybrid, with the pyramid scheme as the main component), failed 2 months after the launch in early February 2014, but kept alive until July 2014, then being reorganized for 4 weeks (e.g. WE-coins converted to non-withdrawable WFO), then rebooted in August 2014.
Failed?
The Alexa statistics for Wenyard.com and nasgo.net indirectly show rapid growth in December 2013, very slow growth January – April 2014, then reduction in activity between late April and August 2014.
Less than 5,000 members can easily generate statistics like that. It currently is ranked at around 23,000 globally (3 month average). It simply hasn’t attracted many new investors since late 2013 (the first 6-8 weeks of pre-launch).
No money coming in from new investors = no money being paid out either = failure for that type of program. It failed relatively early, less than 2 months after NASGO was launched in early February 2014.
“Guaranteed ROI”?
The virtual stock game is a type of Ponzi component in itself, but without guaranteed ROI (a stock market doesn’t “guarantee” any fixed ROI or profit). But that component has so far actively tried to prevent people from withdrawals of cash.
The ones who were promised a type of “guaranteed ROI” were the early investors, when they were offered “guaranteed increasing WFO prices” from €0.10 –> €0.30 –> €0.50 etc. up to €3.00 during the 12 weeks of pre-launch. That’s a type of “the earlier you join, the more ROI you will earn from your investment”.
Wenyard also have a “PRO investor discount”:
* €95 investors were offered €100 worth of WFO (1x investment)
* $295 investors were offered €600 worth of WFO (2x)
* €795 investors were offered $2,400 worth of WFO (3x)
That’s a “the more you pay to play, the more ROI you will earn when you withdraw your profit”.
“Gift certificates” = additional Ponzi scheme component.
Wenyard added some additional Ponzi scheme components to fix payment problems = withdrawals as “gift certificates” which could be used to buy memberships or upgrades.
* people withdraw gift certificates
* gift certificates are sold to new members
* new members use gift certificates to pay for membership
That’s a similar type of solution as TelexFree had, i.e. the new members pay directly to the recruiting sponsor, while the sponsor pay for the membership with a type of internal currency.
That method will reduce withdrawals of cash. Wenyard will get a new member, but it will not get any money (it will only get its own worthless gift card). Short term payment problems will be reduced, but long term payment problems will increase.
TIMELINE FOR WENYARD / NASGO
Late October 2013: Prelaunch (12 weeks)
December 2013: Growth, according to Alexa (week 5-9)
January 13 2014: “Soft launch” (limited trading)(week 10)
* February 7 2014: One payment problem reported, no details.
February 12 2014: Launch (full trading) (week 14)
March 19 2014: First problem with share prices (week 18-19)
April 5 2014: Some internal problems (week 21 or 22)
Late April 2014: First problem with withdrawals (week 26)
May/June 2014: “Pretend everything is okay”
July 5 2014: Reorganizing plans (week 35)
July 21 2014: Reorganizing start (week 38)
August 14 2014: First reorganizing finished (week 41)
SOME DETAILS (e.g. quotes from the MMG thread)
March 19:
April 2014:
People reported “payments just in time” in the MMG thread in March and April, but that suddenly stopped in late April 2014 …
But people also reported different internal problems.
GENERAL INFO
Generally speaking, people didn’t have problems withdrawing recruitment commissions during pre-launch. Withdrawal problems first occurred when people wanted to withdraw money from the stock trading game (the Ponzi scheme component).
Problems were delayed 30 days (internal rules = new shares must be owned 30 days first before they can be sold, “escrow rules”). Prices were immediately reduced to close to minimum the first time people could sell their shares (around March 19).
NASGO trading platform worked as long as it was in “buy only” modus, when people could use WE-coins from Wenyard to buy shares. It failed when people sold those shares, and wanted to withdraw cash.
Problems were also delayed an additional 3 weeks = the time to process withdrawal requests –> Towah e-Wallets. All Ponzi schemes have delays like that, to make sure they get money in first before they pay money out.
It means the payment problems started rather immediately when people tried to withdraw cash from the internal stock trading game.
The last update in the MMG thread is from August 20, a Wenyard Management update:
“The result was an uncontrolled spiral towards lower and lower share prices” is probably caused by people trying to sell their existing shares.
Alexa rank for Wenyard.com and Nasgo.net both show a member flee in the last 3 months, since April/May 2014 (early April for Wenyard, late May for NASGO).
Alexa statistics are “average last 3 months” (Global rank) and “average last month” (rank in country), so those websites do still have a rank around 39,000. In reality they’re on their way out of the top 100,000 list (Wenyard.com at around 80,000 Global rank, NASGO.net at around 100,000 Global rank).
I like how they keep pretending their virtual stock game has actual fluctiations. Lord knows it’s just some guy sitting in a room punching in whatever he wants the stock prices to be at any given time.
The only thing the shares are pegged to is how much new investor funds are coming in and what they’re paying out.
“Financial game of skill” – lol.
They probably have a software organizing and controlling the NASGO game, a type of “stock market simulator”, raising the prices when there’s more buyers than sellers, and lowering the prices when there’s more sell-orders than buy-orders.
The Wenyard WFO (“Wenyard Future Options”) were controlled manually, but they don’t have any function other than to show up in the back office as some type of “investment” (current price, number of WFOs, portfolio value).
NOLINK://mlmpronews.com/images/wenback0912.jpg
“The problem is …”
* Lack of new investors eager to buy when old investors want to sell. It will need an increasing stream of new investors putting money “directly” into the game (rather than as 30% of commissions).
* Poorly backed up by real money. The NASGO software is probably designed for a 100% virtual game, not for cash withdrawals.
* The so called “brilliant minds” mentioned in post #2. Statements are simply FILLED with “pseudo professionalism” from people ACTING like they BELIEVE professionals will do, rather than checking how professionals actually work in reality. That’s the main problem.
“Current status”
* It doesn’t work as a game.
* It doesn’t work as an investment driven opportunity.
* It doesn’t work as a recruitment driven opportunity.
Wenyard seems to have collapsed completely in early or mid September. Last post in the MMG forum is dated September 19, from a dissatisfied member sharing his frustrations.
Alexa rank is based on 3 months average, so it’s still ranked as #69,500 globally, but it’s real ranking is much worse.
Wenyard had some appeal to very specific types of people, much like a “cult” except for the types of ideas (“marketing cult” rather than a religious one). The most dissatisfied ones seemed to have joined it “by accident”.
“Cult” was used in the meaning of “positive thinking beliefs where most people would have complained”, or “too much ‘visions and missions’ and too little substance”.