M3ta Moguls fails to provide ownership or executive information on its website.

M3ta Moguls’ website domain (“me3tamoguls.com”), was privately registered on March 28th, 2022.

Further research reveals a July 2023 M3ta Moguls’ press-release, on which “William Coyle” is credited as CEO.

The press-release represents it was issued from Costa Rica:

Because of this, I believe “William Cycle” corresponds to William Coyle Jr.

Coyle’s LinkedIn profile places him in Quebec, Canada. If you look at his profile experience however, you’ll find Crypto Mutual Capital Trust and Costa Rica.

Crypto Mutual Capital Trust is a crypto Ponzi scheme that pitched 1% a day through the staking model.

Crypto Mutual Capital’s website is gone so presumably the scam, of which Coyle was co-founder and CEO, has collapsed.

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.

M3ta Moguls’ Products

M3ta Moguls sells bot-generated NFTs for the USD Coin stablecoin ($1 = 1 USDC):

  • Select – 300 USDC
  • Premier – 600 USDC
  • Silver – 1400 USDC
  • Gold – 2000 USDC
  • Bundle (includes a Select, Premier, Silver and Gold NFT) – 4300 USDC

Marketing from affiliates suggests there’s also a 29.95 USDC fee on each NFT purchase, although this isn’t disclosed on M3ta Moguls’ website.

I originally thought a 170 USDT M3ta Pass differentiated affiliates from retail customers but as per M3ta Moguls’ compensation documentation, qualifying for the first referral commission tier requires purchase of either a M3ta Pass or Select tier NFT.

This means one can buy a Select tier NFT. Other NFT tier purchases unlock higher commission tiers, meaning everyone in M3ta Moguls is an affiliate.

TL;DR: There are no retail customers in M3ta Moguls.

M3ta Moguls’ Compensation Plan

M3ta Moguls affiliates earn commissions and bonuses on the sale of NFTs.

Note that instead of paying out with actual money, M3ta Moguls pays with “sphere rewards” (SR).

Sphere rewards appears to be an internal points system that is convertible to “cash or crypto” within M3ta Moguls.

Note that M3ta Moguls do not publish the internal SR exchange rate.

M3ta Moguls Affiliate Ranks

There are five affiliate ranks within M3ta Moguls’ compensation plan.

Along with their respective qualification criteria, they are as follows:

  1. Mini Mogul – earn 5000 SR
  2. Junior Mogul – earn 50,000 SR
  3. Boss Mogul – earn 500,000 SR
  4. Elite Mogul – earn 5,000,000 SR
  5. Mega Mogul – earn 50,000,000 SR

Referral Commissions

M3ta Moguls pays referral commissions via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

M3ta Moguls caps payable unilevel team levels at twelve.

In essence, each M3ta Moguls NFT tier corresponds to its own unilevel team. To unlock each tier, a M3ta Moguls affiliate either purchases a corresponding NFT or meets sales criteria.

  • Select referral commissions (must have signed up as an affiliate with a M3ta Pass or have purchased a Select Avatar) – 25 SR per Select NFT sold on level 1 (personally recruited affiliates), 25 SR on level 2 and 20 SR on levels 3 to 7
  • Premier referral commissions (must have purchased a Premier NFT or sold 10 NFTs) – 50 SR on levels 1 to 4 and 20 SR on levels 5 to 9
  • Silver referral commissions (must have purchased a Silver NFT or sold 15 NFTs) – 100 SR on levels 1 to 4 and 40 SR on levels 5 to 11
  • Gold referral commissions (must have purchased a Gold NFT or sold 20 NFTs) – 150 SR on levels 1 to 4 and 50 SR on levels 5 to 12

Note that the sale of NFTs doesn’t appear to correspond to the tier. I.e. Gold qualification doesn’t require the sale of 20 Gold NFTs specifically.

2X Pace Bonus

The 2X Pace Bonus rewards M3ta Moguls affiliates who sell 3 NFTs within 14 days of signing up.

Once qualified for, the 2X Pace Bonus doubles level 1 and level 2 referral commissions.

E.g. Gold pays 150 SR on levels 1 and 2. If the 2X Pace Bonus is qualified for, this increases to 300 SR on each level.

Monthly ROI

M3ta Moguls affiliates who purchase the 4300 USDC NFT bundle or each NFT tier separately qualify for a monthly passive return.

M3ta Moguls states the monthly return is funded by a “Collectors Pool”. Presumably this is an undisclosed percentage of USDC spent on NFT purchases.

Rank Achievement Bonuses

M3ta Moguls rewards affiliates for qualifying at Junior Mogul and higher with the following one-time Rank Achievement Bonuses:

  • qualify at Junior Mogul and receive 500 SR
  • qualify at Boss Mogul and receive 5000 SR
  • qualify at Elite Mogul and receive 50,000 SR
  • qualify at Mega Mogul and receive 50,000,000 SR

Joining M3ta Moguls

M3ta Moguls affiliate membership is tied to the purchase of a 170 USDC M3taPass or 300 to 2000 USDC NFT.

All four available NFTs can also be purchased for 4300 USDC.

M3ta Moguls Conclusion

This time last year you might have gotten away with an NFT grift.

These days however NFTs are well and truly dead. Bagholders are out for blood, desperate to blame someone for their inevitable losses.

Not surprisingly, Metaverse grifts also died a few months ago.

Yet here comes M3ta Moguls, keen to sell gullible schmucks on more cartoon NFTs and metaverse nonsense.

M3ta Moguls’ NFTs open up the pay-plan. You could remove the JPGs and just charge a fee – M3ta Moguls as an MLM company would function just the same.

M3ta Moguls’ metaverse doesn’t exist and won’t until 2025…

…so uh yeah, that kind of speaks for itself.

I initially thought M3ta Moguls differentiated retail customers from affiliates with the M3taPass, but that’s not the case as NFT purchases open up the comp plan.

What that equates to is a defacto “pay to play” pyramid scheme. That a self-purchase isn’t required to qualify doesn’t change that, as recruitment is still required to qualify (and earn).

The monthly ROI offered to affiliates who have purchased all NFT tiers is also of concern. This is easily boiled down to investing 4300 USDC and receiving a monthly passive return.

What’s more if the return is funded by subsequent investment, that’s a clear-cut Ponzi scheme.

Without a metaverse there’s no “virtual land” to sell, but it appears M3ta Moguls also has plans for a potential “passive reward” Ponzi scheme:

Like the monthly NFT return, this is again potential for securities fraud.

The icing on the cake is M3ta Moguls appears to have wanted to launch back in early 2022 – in the months just after peak NFT stupidity.

M3ta Moguls’ official YouTube trailer was uploaded April 10th, 2022.

Its website domain and Twitter profile were both registered/created in March 2022.

For whatever reason though, nothing launched until June 2023 – sixteen months later.

If you’re keen to lose money, beat a dead horse and be left holding more worthless cartoon avatars, M3ta Moguls might be for you.

Mark Zuckerberg blew over $100 billion on the metaverse and still couldn’t sell it to consumers. Let the horse die already.