Metaversy: Crowd1 migrates virtual shares fraud to crypto
With its Digital Partners Network Ponzi in tatters, Crowd1 has revealed its next Ponzi play: Metaversy.
Metaversy is a new blockchain based trading game where you as a player can trade virtual shares in companies which only exist in the Metaverse!
This will be the most revolutionary game you’ll ever play! At the cutting edge of the digital frontier, where crypto and blockchain meets the Metaverse, this is a game as exciting and rewarding as Wall Street, but without the suits!
Metaversy, a crypto stock market through which Crowd1 will continue to offer unregistered securities and defraud consumers.
Metaversy is operating from “metaversy.com”, whose domain registration was last updated April 21st. This is all very new and very fast.
You get a sense of this with a visit to Metaversy’s website. It’s “coming soon”.
Like PlanetIX, Crowd1 is packaging its latest fraud offering as a game. As far as games go, it sounds incredible boring.
This is from Jonathan Strom, Crowd1’s COO in an April 27th marketing video;
Now, Crowd1 takes the next step with Metaversy, an online virtual trading game.
Offering all of the real elements of the real world in a virtual environment.
Players will be able to follow different virtual companies, with virtual news and events in the market, that might b impacting the values in the game.
The game will challenge the players to make time limited decisions, whenever to buy, sell or hold their assets in the game.
If that sounds like a paper-thin convoluted ruse to sell virtual shares to suckers, it’s because it is.
Here’s what Crowd1 expects affiliates to pay them on top of their existing losses:
Only Crowd1 affiliates who’ve bought into Metaversy can earn by recruiting new suckers into the scheme.
Oh and naturally even if you buy in, commissions are limited by how much you invested into Metaversy yourself.
Metaversy will be strategically launched in stages through the Crowd1 network, before going to the public market. Just as PlanetIX did.
Crowd1 affiliates invest in the hope of cashing out funds invested by unsuspecting consumers later on.
I’m glad PlanetIX was mentioned, because that provides a pretty good roadmap for how things will turn out.
PlanetIX launched as some bullshit NFT game nobody outside of Crowd1 cared about. And even then, competing against the original Digital Partner Network virtual share scheme (which at the time was the then current iteration of Crowd1’s original Ponzi), it’s never really taken off.
As interest dwindles…
…PlanetIX has sought to do away with the game facade and push investment fraud to the forefront:
Crowd1 affiliates invest in IXT token, park them with the company (staking), receive passive returns (more tokens) – all in the hope of eventually cashing out subsequently invested funds. As classic a Ponzi as any other Crowd1 has launched.
Metaversy too will have no interest outside of Crowd1. And even then, with no direct conversion path from DPN virtual shares into Metaversy, how many affiliates are gullible enough to hand over even more money remains to be seen.
Meanwhile overall interest in Crowd1 continues to decline:
Mounting investor losses and new schemes being launched without first addressing existing losses isn’t a good combination.
On the regulatory side of things Crowd1 is run by Jonas Werner, a Swedish national who fled to Dubai last year.
By way of not regulating MLM securities fraud, not cooperating with foreign authorities and limited extradition treaties, Dubai provides scammers like Werner a safe-haven.
To date Crowd1 hasn’t publicly addressed regulatory action or the arrest of its promoters.
Pending the inevitable decline in Metaversy once the most gullible are onboard, we’ll keep you posted.