Lifestyle Galaxy Review: Dragon Mine rebooted after collapse
Smart Media Technologies was initially launched in 2010 by David Martin.
Smart Media Technologies was bundled with YOBSYN, a social media network affiliates paid hundreds of dollars to access. Commissions were paid out when they recruited others who did the same.
In 2014 Smart Media Technologies affiliates were arrested in Bangalore, prompting the end of the scheme.
Martin (right) lay low, eventually to return in late 2015 with Skill Dragon.
Skill Dragon was initially supposed to be a revenue sharing type opportunity, based on mobile apps and eSports.
The concept flopped and so Dragon Mining, a cryptocurrency mining pool opportunity, was added to the company’s offering.
Dragon Mining never took off on its own, or at least not enough to entirely sustain itself.
At some point Martin decided to pull the plug and relaunch Dragon Mining as the core of the business.
That brings us to Lifestyle Galaxy, which is pretty much a rehash of Smart Media Technologies’ previously failed ventures.
Read on for a full review of the Lifestyle Galaxy MLM opportunity.
The Lifestyle Galaxy Product Line
Lifestyle Galaxy sell mining contracts to retail customers.
No details are currently provided, other than retail mining contracts will cost more than the same contracts Lifestyle Galaxy affiliates can purchase.
Retail customers can also participate in Skill Dragon’s mobile games, however this is unlikely owing to the original concept having already flopped.
The Lifestyle Galaxy Compensation Plan
Lifestyle Galaxy affiliates sign up and invest money into “mining contracts”.
- Level 1 – $500
- Level 2 – $1000
- Level 3 – $2000
- Level 4 – $2500
- Level 5 – $5000
- Level 6 – $10,000
These contracts are purportedly attached to bitcoin and ethereum cryptocurrency mining and are locked in for three years.
The more an affiliate invests the higher their comparative daily ROI payout.
Variable ROI payouts are made in either ethereum or bitcoin for the life of the contract, with affiliates required to reinvest 35% of each monthly ROI.
Lifestyle Galaxy affiliates are paid $150 each time they recruit a new affiliate.
Lifestyle Galaxy pay residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels o the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.
Residual binary commissions are paid out according to points. Binary points are generated via recruitment (200 points), payment of the monthly affiliate fee, ROI payouts to affiliates in a binary team and Skill Dragon’s failed eSports and auction ventures.
Every time 900 points generated in the binary team (split 300/600 on either side), a Lifestyle Galaxy is paid $50.
Joining Lifestyle Galaxy
Lifestyle Galaxy affiliate membership is $400 upfront and then $30 a month.
Full participation in the Lifestyle Galaxy income opportunity requires an additional $500 to $10,000 “mining contract” investment.
With crypto mining currently a favorite of the MLM underbelly, it comes as no surprise that long-time scams like Smart Media Technologies are trying to cash in on the trend.
Problem is the idea already failed under Dragon Mining.
Lifestyle Galaxy is the combination of Smart Media Technologies’ failed business ventures (mobile gaming, auctions etc.), with Dragon Mining.
There’s nothing new here, that’s literally all they’ve done.
The MLM cryptocurrency mining ruse sees a company set up mining and pay affiliates a ROI. The first one I can remember launching was BitClub Network in 2014.
Same story, affiliates invested thousands on the promise of ~3 years of mining. In mid-2016, well before the initial contract expiry the company ran out of newly invested funds and terminated all initial contracts.
With existing ROI liability wiped, the scheme restarted again. When new investment slows down they’ll probably collapse and restart again.
This is the same model Lifestyle Galaxy are using.
Some invested funds are used to power mining machines, which is done as “proof” that mining is taking place. By and large though what little mining goes on doesn’t match up with ROI payouts.
Furthermore neither the company or affiliates are able to provide any correlation between what token mining does take place and ROI payouts.
Then there’s regulatory compliance, with neither Lifestyle Galaxy, Skill Dragon or Dragon Mining registered with a securities regulator in any jurisdiction.
Money-wise the only verifiable source of income entering Lifestyle Galaxy is affiliate investment. The use of which to pay a ROI makes Lifestyle Galaxy a Ponzi scheme.
Recruitment commission paid out also add an additional pyramid layer to the scheme.
Revenue from the auctions doesn’t count because only Lifestyle Galaxy affiliates can participate in the auctions. The Skill Dragon mobile platform has already flopped, so there’s no external revenue being generated there either.
And in any event, what token revenue might have been raised pales in comparison to the thousands Lifestyle Galaxy investors are pumping into mining contracts.
As with Smart Media Technologies’ various reboots over the years, once affiliate recruitment drops off the scheme will collapse.
At that point the majority of affiliates lose money and, if history is anything to go by, David and the gang gear up to launch a new scam.