Yolllo: The NFT-based Social Media Scam

Yolllo says that it is a social media site for creators that are built on NFT. But it has become known as a scam that tries to take money from rich women in Russia and Ukraine. Yolllo says it will pay both the people who make material and the people who like it.

They are trying to sell themselves as a more modern option to TikTok, Instagram, and YouTube. Based on these claims and promises, the company is getting money from customers. But there are a lot of red flags that show it’s not a real crypto business but a scam. The first red flag is that they want $50,000 for their VIP business deal.

Besides the VIP membership, they offer the following membership plans for creators:

  • Light ($100)
  • Basic ($300)
  • Forward ($1,188)
  • Pro ($3,000)
  • Expert ($10,000)
  • VIP ($50,000)

But in return for such large sums of money, you get a few “arbitrary” benefits that don’t mean much in the real world.

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Gem4Me, another MLM scam, is similar to Yolllo’s scam. People who say they want to start a digital rival to Telegram and WhatsApp give money to the company.

How Yolllo Markets Itself?

The way Yolllo markets itself reminds me of MLM scams. On their website, it says that Pasha Kidman is the CEO. This company says that it’s a “great opportunity” that you might regret missing out on if you don’t join. You can post one piece of digital art per day with their basic service. But even with their cheapest plan, you can only make one NFT.

The company is trying to make money off of the fact that NFTs are becoming more popular.

Also, they say they will give you virtual helpers and tools that are based on AI. They say that you will be able to make money from your artistic work. But the app doesn’t have a big audience, so there’s no real reason for people to make content for it. Also, you would have to spend hundreds or thousands of dollars on Yolllo to do all of this.

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Their pyramid plan is the real scam. The company shows rich women “projections” of how they can make more money.

The following are the different levels of their pyramid:

  • Producer
  • Administrative Producer
  • GA Producer
  • Line Producer
  • Prime Producer
  • Executive Producer
  • VIP Producer

A Producer is in charge of making 5 sales worth $300 for a membership. At this level, you’ll get 5% off every sale made by your first five members. Then, each of those people will bring in five more people.

As you can see, Yolllo is promoting a pyramid plan, which is against the law. Almost everyone who puts money into these schemes ends up losing their money.

Penney Ooi’s WFG is a well-known MLM scam that says it will help people make money but ends up making them lose a lot of money.

Conclusion: It’s a pyramid scheme.

Yolllo is advertising itself as a social media site based on blockchain that lets artists make NFTs and earn money. But all of that is just a trick to get you to join their MLM scam.

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OmegaPro is another MLM scam that tries to sell itself as a ‘tech’ business. The company says it is a forex broker, but in fact, it is just advertising its pyramid scheme, which is called the “Loyalty program.

The financial watchdogs of France, Belgium, Mauritius, and many other countries have put OmegaPro on a “blacklist.” So, be careful of Yolllo. You are very likely to lose all of your money and more without getting anything back.

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