Unveiling M3ta Moguls: A Deep Dive into the NFT Metaverse Scheme
M3ta Moguls, a venture that claims to be a part of the NFT metaverse, leaves a trail of uncertainty and questions.
In this exploration, we delve into the lack of transparency surrounding its ownership, delve into its compensation plan, and ponder the relevance of NFTs in today’s market.
Ownership and Background of M3ta moguls.
M3ta Moguls’ website fails to provide any information regarding its ownership or executive team.
Moreover, its website domain, “me3tamoguls.com,” was privately registered on March 28th, 2022.
It wasn’t until July 2023 that a press release credited “William Coyle” as the CEO. This led us to conclude that “William Cycle” is likely a reference to William Coyle Jr.
Yet, interestingly, Coyle’s LinkedIn profile places him in Quebec, Canada, but also mentions an association with Crypto Mutual Capital Trust in Costa Rica, a crypto Ponzi scheme that ultimately collapsed.
The Lack of Transparency of this project.
A common red flag in the MLM industry is a lack of transparency regarding leadership.
M3ta Moguls’ opacity regarding its ownership raises concerns and questions about its legitimacy.
M3ta Moguls’ Product Offerings and plans
M3ta Moguls presents itself as a platform for selling bot-generated NFTs using the USD Coin stablecoin.
They offer various tiers of NFTs, each with its own price point, ranging from Select to Bundle.
It’s worth noting that affiliate marketing materials suggest an additional fee of 29.95 USDC per NFT purchase, though this detail isn’t disclosed on the official website.
Understanding the Compensation Plan
The compensation plan rewards affiliates with “sphere rewards” (SR), an internal points system that can supposedly be converted to cash or cryptocurrency within the M3ta Moguls ecosystem.
Unfortunately, M3ta Moguls does not provide information on the exchange rate for SR.
Affiliate Ranks and Referral Commissions.
This Ponzi offers five affiliate ranks with specific qualification criteria.
Affiliates earn commissions and bonuses based on the sale of NFTs, and these rewards are paid out in SR.
The referral commission structure utilizes a unilevel compensation system with caps on payable levels.
The Controversial 2X Pace Bonus.
It also introduces the 2X Pace Bonus, which rewards affiliates for selling 3 NFTs within 14 days of joining.
This bonus doubles level 1 and level 2 referral commissions, potentially creating a disproportionate incentive structure.
Monthly ROI and Rank Achievement Bonuses
This peoject offers a monthly passive return to affiliates who purchase specific NFT bundles.
This return is said to be funded by a “Collectors Pool,” although the details of this pool remain undisclosed.
Additionally, the company provides one-time Rank Achievement Bonuses to affiliates who reach certain milestones.
Joining M3ta Moguls.
Affiliate membership is contingent upon purchasing a 170 USDC M3taPass or one of the NFT tiers, ranging in price from 300 to 2000 USDC.
All four NFT tiers can also be acquired for 4300 USDC.
In a landscape where NFTs and metaverse projects have faced significant scrutiny, This fraud emerges as a questionable player.
The lack of transparency in ownership, the use of an internal points system for compensation, and the overall structure of the venture raise concerns about its legitimacy.
Furthermore, the promise of a monthly ROI and potential Ponzi scheme elements add to the skepticism surrounding M3ta Moguls.
In a market that has moved beyond NFT hype, it’s essential to exercise caution and perform due diligence before considering involvement with such ventures.More about ponzi schemes, read ABOUT a busd SCAM