Voltage Partners enters partnership with Vitaxel (upcoming ICO?)
Voltage Partners launched roughly two years ago.
The company’s business model was to come up with and develop “high value” apps, however that never really took off.
With seemingly nothing much else going on inside the company, a few weeks ago a partnership with Vitaxel was announced.
Vitaxel, a combination of e-commerce and pyramid recruitment, launched about six months prior to Voltage Partners (mid 2015).
Whereas I first thought we were looking at a merger, Voltage Partners are only going so far as working together.
Speaking on a December 18th “corporate updates” call, Voltage Partners CEO Gordon Comfort stated:
[2:08] The focus of our company has always been about committing ideas building out apps and games in the various markets around the world.
With our partnership with the new company … we’re not going to lose that focus.
Comfort reveals the partnership had been “in the works” for seven months.
The partnership appears to be sharing of products across both Vitaxel’s and Voltage Partners’ respective e-commerce platforms.
Although not yet ready for release, Comfort suggests both companies are also going to integrate an ICO at some point.
[4:27] The really cool news is the coin that will be coming out soon. That will tie all these different products together.
Why does Voltage Partners and Vitaxel need their own altcoin instead of using an existing one (or USD as they’ve been doing)?
No idea. And it makes even less sense once you factor in Vitaxel already paying commissions in ethereum.
Other than using it as a vehicle to solicit investment on the usual cliché of increasing value, I can’t see any legitimate public demand for an altcoin specific to two MLM companies.
Of note is Vitaxel is currently registered with the SEC, although somewhat strangely through the Standard Industry Classification of “Agriculture production – livestock & animal specialties”.
A quarterly report filed by Vitaxel in mid November shows accumulated losses of over $750,000 this financial year so far.
There’s nothing in the filing about Voltage Partners or an ICO.
Will two failed/failing MLM opportunities partnering up for an ICO launch turn things around?
Maybe for the owners… but if retail customers aren’t interested in either Voltage Partners’ or Vitaxel’s offering, I don’t see what adding an ICO is going to do.