Gymnasium Community is a GYMNET BEP-20 token Ponzi scheme.
Launched in early 2022, Gymnasium Community is/was headed up by CEO Claudio Catrini.
At present, right here’s how Gymnasium Community and its GYMNET Ponzi scheme are going:
On or round August 2022, Gymnasium Community introduced Gymnasium Avenue. Gymnasium Community markets Gymnasium Avenue as “the Metaverse counterpart of Wall Avenue.”
What Gymnasium Avenue actually was is an excuse to combine NFT and metaverse scamming into Gymnasium Community. It additionally launched VBTC.
Like GYMNET, VBTC is believed to be one other BEP-20 shit token. These will be created on demand at little to no value.
On the chief facet of issues Claudio Catrini is now a Gymnasium Avenue “Advisor”:
We’re unsure if this implies Catrini is a puppet or if he’s actively hiding his involvement.
Gymnasium Avenue’s web site cites Frank Roehrig (proper) as CEO of the corporate.
Supporting Catrini hiding his involvement is Roehrig not having a verifiable MLM historical past. Roehrig has a FaceBook profile that seems to have been bought/created earlier this yr.
Roehrig’s LinkedIn profile represents he has a non-MLM gross sales and advertising and marketing background.
Gymnasium Avenue’s enterprise mannequin sees associates buy $100 NFT positions.
Consider NFT positions as revenue positions. Gymnasium Avenue associates can then make investments as much as $200 per NFT place they personal, damaged up into $50 investments.
This involves a complete of $300 ($100 NFT buy + $200 funding), which Gymnasium Avenue pitches a 100% ROI on (200% in Ponzi math).
What associates hope to money their nugatory VBTC tokens for are subsequently invested funds. This makes Gymnasium Avenue a Ponzi scheme.
The MLM facet of the enterprise is usually the identical as Gymnasium Community. The one distinction I can see are necessary NFT place bought have been baked into rank qualification standards:
- Members need to buy a $100 NFT place
- Rookie Is need to buy $250 in NFT positions
- Rookie IIs need to buy $500 in NFT positions
- Rookie IIIs and Beginner Is need to buy $1000 in NFT positions
- Beginner IIIs to Professionals need to purcahse $5000 in NFT positions
- Senior Professional Is to Champion IIs need to buy $10,000 in NFT positions
- Champion IIIs to Co-Coach IIIs need to buy $20,000 in NFT positions
- Coach Is to Coach IIIs need to buy $25,000 in NFT positions
- Vice Presidents need to buy $30,000 in NFT positions
- Presidents need to buy $35,000 in NFT positions
- Legends need to buy $40,000 in NFT positions
I’m not 100% certain on the $250 Rookie buy requirement, seeing as Gymnasium Avenue NFT positions are $100 every.
These necessities seemingly embrace the $50 investments, along with the $100 NFT place purchases.
Gymnasium Avenue Advertising, pushing associates to take a position $17,500 to unlock 22 compensation ranges, references “Land & Miner bundles”.
Inside Gymnasium Avenue’s Ponzi scheme “land” refers to NFT positions. “Miners” seek advice from the $50 investments.
Whereas an affiliate can simply make investments manually, Gymnasium Avenue additionally gives “tremendous bundles”:
What we study from Tremendous Bundles is that Gymnasium Avenue returns seem like paid out for 12 months (“electrical energy”). After this reinvestment is required to proceed incomes.
Trying ahead, Gymnasium Avenue can also be trying to incorporate a “staking” Ponzi scheme into their enterprise mannequin:
Like Gymnasium Community, Gymnasium Avenue requires fixed recruitment of recent affiliate traders to maintain itself. When this inevitably slows down, Gymnasium Avenue collapses.
At time of publication SimilarWeb is monitoring just a few thousand month-to-month visits to each Gymnasium Community’s and Gymnasium Avenue’s web sites.
For an MLM Ponzi scheme, even one with its personal shit tokens, that is an inevitable highway to break down.
One final change to notice between Gymnasium Community and Gymnasium Avenue is Gymnasium Avenue’s Community supplies a company tackle in Dubai.
Particularly, Gymnasium Community and Gymnasium Avenue are purportedly run by way of the shell firm Meta Networks FZCO.
Dubai is the MLM crime capital of the world.
BehindMLM’s pointers for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re attempting to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
