FOMO5K provides no information on its website about who owns or runs the company.
FOMO5K’s website domain (“fomo5k.io”) was privately registered on January 2nd, 2020.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
FOMO5K has no retailable products or services, with affiliates only able to market FOMO5K affiliate membership itself.
FOMO5K’s Compensation Plan
FOMO5K affiliates gift ethereum to each other via two 2×5 matrices.
A 2×5 matrix places an affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).
Levels three to five of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
Each level of the matrix requires a gifting payment to be made in order to unlock it.
Once unlocked, positions filled on the matrix level generate gifting payments.
Positions in the matrix are filled via direct and indirect recruitment of FOMO5K affiliates.
Sequential gifting payments across FOMO5K’s two 2×5 matrices are as follows:
- Matrix 1, level 1 – gift 0.1 ETH and receive 0.1 ETH from two affiliates
- Matrix 1, level 2 – gift 0.16 ETH and receive 0.16 ETH from four affiliates
- Matrix 1, level 3 – gift 0.3 ETH and receive 0.3 ETH from eight affiliates
- Matrix 1, level 4 – gift 1 ETH and receive 1 ETH from sixteen affiliates
- Matrix 1, level 5 – gift 3 ETH and receive 3 ETH from thirty-two affiliates
- Matrix 2, level 1 – gift 8 ETH and receive 8 ETH from two affiliates
- Matrix 2, level 2 – gift 16 ETH and receive 16ETH from four affiliates
- Matrix 2, level 3 – gift 31 ETH and receive 31 ETH from eight affiliates
- Matrix 2, level 4 – gift 60 ETH and receive 60 ETH from sixteen affiliates
- Matrix 2, level 5 – gift 120 ETH and receive 120 ETH from thirty-two affiliates
FOMO5K’s compensation documentation states “every level works 100 days”. This suggests that gifting payments are on a 100 day subscription.
FOMO5K affiliate membership is tied to an initial 0.1 ETH gifting payment.
Full participation in FOMO5K’s income opportunity costs 239.56 ETH.
On its website, FOMO5K states
Only a single investment of 0.1ETH ($24.20) will give you a chance to get 5,000 ETH ($1,210,171.01) every 100 days.
The chance aspect comes down to recruitment, owing to FOMO5K being a simple gifting scheme.
You sign up, gift ethereum to people who joined before you. Through active or passive recruitment, you then receive gifting payments from those who join after you.
Through one or more preloaded positions, FOMO5K’s anonymous admin receives the majority of ethereum gifted in.
This happens because each matrix increases funds re-gifted into the system. First to receive those funds are the admin’s position(s).
A few early adopters will receive what’s left, with the majority of FOMO5K affiliates ultimately taking a loss.
This happens when recruitment dies off, same as any other gifting scheme.