MMM NFT Review: Mmm-nft.art Untrustworthy NFT

MMM NFT Review
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Summary

MMM NFT does not have any tangible things to sell. They say you can make money by buying NFTs, then waiting for your picture to rise in value and selling it for 30% profit. You can also earn by inviting other people to join the scheme.

MMM NFT is an outrageous company. Internet marketing is one trend that has grown in popularity alongside the expansion of internet use. Sadly, many con artists have taken advantage of this situation by launching pyramid schemes disguised as legit multi-level marketing (MLM) businesses. In most cases, you may see advertisements for them in the media. You read about ordinary people making thousands of dollars with little time or effort. However, while some MLM companies are genuine enterprises, pyramid schemes are always fraudulent.

MMM NFT Review, MMM NFT Company

An example of these pyramid schemes is MMM NFT. Instead of selling directly to customers, their business model incentivizes members to bring new people to their organization. Usually, to join a pyramid scheme, you have to fork out some cash. After making your initial investment, your earnings will come from recruiting new members rather than selling products or services.

The people you bring in will, in turn, bring in others, and so on. These pyramid schemes can take many forms. Con artists frequently use the appearance of “investment” opportunities to lure victims. Someone approaches you with a fantastic proposition: invest with them, and they’ll return your money plus some interest. They, however, never explain how the money is accumulating interest.

There are laws against pyramid schemes, but they are still difficult to eradicate. It can be challenging to discover the people who initiate such groups and the people they recruit. If the government succeeds in dismantling one, the group’s founders will likely launch another organization under a different name.

About Mmm-nft.art

According to its website, the company describes itself as a “digital revival of a legend.” This is about a notorious Russian scammer called Sergey Mavrodi. As noted, pyramid schemes tend to resurrect under a different name to fool people. Before he died in 2018, Mavrodi had been running a pyramid scheme called MMM Global.

The company used to market itself as a scheme where the older members assist the new members in making money. From the mmm-nft.art website, the company admits that Sergei Mavrodi is the mastermind behind MMM NFT. Unfortunately, they note, he died before he could implement it. This admission is a red flag that the company is phoney.

Mavrodi’s negative reputation precedes him and is enough to dissuade you from joining the business. The company makes many promises through the website about how you can make a lot of money effortlessly. Although they do pass a warning that the company does not guarantee success, this is still not enough. All businesses are risky, and this is not the determinant of whether or not a business is legit.

The website does not have clear instructions for getting started in the industry. They have just stated that they will be sending them soon. The company has a group of people it calls “Curators.” These people help those struggling to understand the business or make money.

Founders and Team

It is critical to know the people behind every enterprise. In this company, they have already stated that the company’s founder is Russian Sergei Mavrodi. However, they have deliberately failed to indicate who is currently running MMM NFT.

It is convenient for them to mention Mavrodi since he is dead. However, customers are interested in the current leaders. The association with Mavrodi is enough to tell us that even the current leaders are crooks. It is no wonder they have concealed their identities. The company has also not mentioned its existing employees on its website.

MMM NFT Products

The products an MLM company offers might be a good indicator of its legitimacy. Unfortunately, it can be challenging to determine which are legit and which are scams. You need to know three things about a business before you can trust it:

The standard of their goods or services must be very high. If the goods are of poor quality, you risk losing consumers, failing to turn a profit, and being left with inventory no one wants.The company must not hide its practices from the public eye. How much money will you make, and how long will it take you to make it?

Mmm-nft.art Review, Mmm-nft.art Features

A healthy financial foundation is essential for the business. You shouldn’t put your money into a company that might go bankrupt before you get it back.   

MMM NFT does not have any tangible things to sell. They say you can make money by buying NFTs, then waiting for your picture to rise in value and selling it for 30% profit. You can also earn by inviting other people to join the scheme. Here, you can make up to 5% of their purchases. This is how their compensation plan works:

An affiliate pays at least $100 through Binance Coin (BNB). The expectation is that you will get the promised 30% return at the end of the month. In the beginning, you are at the top level. When you invite another person, they take the lower level (level one). If the person in level one invites another person, they occupy level two, and so on. There are five levels, and the commission start at 5%, then 2%, 1.5%, 1%, and 0.5% at the lower level.

Contact Details

The company has provided no information about its location or contacts. If a customer has an issue, they cannot reach them. It is common for people to have concerns about such a business. As such, contact information is necessary. The company may be based in Russia because the website has the Russian language as an option. However, it isn’t easy to verify this, given the scantiness of the information on the website.   

MMM NFT Regulation Status

The enormous stakes of internet investment have led governments to impose strict licensing requirements. This company is illegal since it operates as a pyramid scheme. For starters, its home base remains a mystery. Protecting customers’ financial information is an important one. In the event of insolvency, customers should suffer no damages. This company cannot guarantee anything like that.

Regulation of pyramid schemes is a formidable challenge. This is because MLMs are not technically illegal. However, a pyramid scheme can quickly develop out of what started as a multi-level marketing company. The corporation must demonstrate that its operations are ethical and above board to secure a license to conduct business.

They were unable to obtain a license because this was not the case. It would have posted evidence of its certificate online if it were legitimate. An honest business will also publish its financial records and the number of its customers. They should also provide withdrawal data to prove that people are making money. Because the company is keeping this information secret, it is evident that it is fishy.

The Bank of Russia has also flagged MMM NFT identifying it as one of the companies engaging in illegal activities in the financial market.  

Conclusion

MMM NFT is a pyramid scheme. Its lack of an operating license and its affiliation with a Russian scammer is enough evidence that you are dealing with a sham. If you want to join MLM, there are many legitimate crypto companies in the business.

Remember, it’s probably a pyramid scheme if someone approaches you with an offer to make money quickly and easily. Do your homework on any organizations you’re considering joining, and don’t be afraid to ask questions.

 

 

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