WeShare Crowdfunding Review: Gold Crowdfunding reboot
WeShare Crowdfunding (stylized as “We$hare Crowdfunding”) identify James C. Hill as the company’s Founder.
Under the pseudonym “J.C.”, Hill was named a “principal” of OneX by the SEC back in 2012.
Last year Hill (right) launched Gold Crowdfunding, which WeShare Crowdfunding appears to be a reboot of (the Gold Crowdfunding website domain redirects to WeShare Crowdfunding).
Gold Crowdfunding saw affiliates pay $10 to join, and then participate in a seven-tier cash gifting scheme.
Cash gifting schemes require a constant supply of new participants entering in at the bottom of the scheme, the failure of which likely caused Gold Crowdfunding to collapse.
Looking to salvage what was left of Gold Crowdfunding, Hill appears to have rebranded the opportunity WeShare Crowdfunding and relaunched.
Read on for a full review of the WeShare Crowdfunding MLM business opportunity.
The WeShare CrowdFunding Product Line
WeShare Crowdfunding has no retailable products, with affiliates only able to market affiliate membership to the company itself.
The WeShare Crowdfunding Compensation Plan
The WeShare Crowdfunding compensation plan sees affiliates sign up and then gift funds to other participants.
This activity is tracked seven levels deep, although I’m not sure if it’s a matrix or unilevel compensation layout.
In any event a WeShare Crowdfunding affiliate starts by gifting $200 to existing participants (James Hill gets a $40 cut).
After recruiting a number of new participants, an affiliate then pays another $320 to their upline.
I’ve seen five new investors quoted, but I’m not sure if that was mandatory or just a suggestion (WeShare Crowdfunding do not provide a copy of their compensation plan on their website).
In turn, new investors brought in by their recruits are also passing up gifting payments from those they’ve recruited.
This process continues up seven-tiers in total, culminating in thousands of dollars being gifted in the upper tiers of the scheme.
Joining WeShare CrowdFunding
Affiliate membership with WeShare Crowdfunding appears to be free, however affiliates must gift at least $200 into the system in order to participate.
As such the defacto minimum cost of WeShare Crowdfunding affiliate membership is $200.
A disclaimer on the footer of the WeShare Crowdfunding website reads:
I am choosing to participate in utilizing weShare Crowdfunding’s “Donation Distribution Formula”.
This means that when you make a donation to my project, that I may be choosing to use part of your donation to make donations to help other projects within our intentional community.
Under the guise of funding bogus projects within an “international community”, WeShare Crowdfunding continues where Gold Crowdfunding left off.
Despite the fancy term, “Donation Distribution Formula” is just another name for cash gifting.
You sign up and send a gifting payment to those who joined before you, which in turn qualifies you to receive the same from those recruited after you.
As with Gold Crowdfunding, WeShare Crowdfunding will collapse when recruitment of new gifting recruits slows down.
Gold Crowdfunding collapsed within a year and what with reboots rarely lasting as long as their predecessors, one can expect WeShare Crowdfunding to collapse sooner rather than later.