Owing to MyCOM deliberately omitting particulars of their MLM alternative of their advertising and marketing, this isn’t a typical BehindMLM evaluation.
Hiding data is a standard incidence throughout the assorted aspects of father or mother firm Tesora Monetary’s operations, which made placing collectively this evaluation a headache.
On that foundation alone I’d suggest avoiding MyCOM and Tesora Monetary. MLM firms solely go to those lengths to cover data once they’re as much as no good.
If you wish to know what precisely MyCOM and Tesora Monetary are as much as, learn on.
MyCOM is headed up by founder and CEO Jaime Villagomez.
Villagomez can also be founder and CEO of Tesora Monetary Group (dba Tesora Worldwide) and all its hooked up shell firms.
Villagomez runs MyCOM and Tesora Monetary Group from Utah within the US.
MyCOM launched in 2017 as an ecommerce platform MLM firm.
4 years later, right here’s how that’s going:
MyCOM’s market is a failure on each measurable metric. Thus it’s not stunning Tesora Monetary and Villagomez have jumped on the crypto bandwagon.
Earlier than we get into that although I need to go over what MyCOM is pitched as.
Primarily you’re wanting on the traditional closed ecommerce portal with cashback. Versus precise cashback, associates, clients and companies are paid in COMS – which Villagomez stresses “isn’t a cryptocurrency”.
That’s disingenuous although, as a result of sooner or later there does seem to have been a crypto part to COM factors:
That distinction apart, COMS would possibly as properly be an in home MyCOM cryptocurrency.
Retail clients obtain COMS once they buy merchandise on MyCOM’s empty market. They will’t money them out.
Retail retailers are paid in COMS, which they’ll money out.
Whether or not MyCOM associates can money out COMS isn’t specified, which possible means they’ll (hush hush).
Oh and for some motive COMS will be immediately invested into, which is not sensible aside from as a cash spinner for MyCOM.
On the MLM facet of issues whether or not commissions are paid on MyCOM funding isn’t specified.
What we do know is MyCOM expenses retailers charges, which funds the cashback (known as “shareback” as a result of causes).
Of this collected cashback price from the service provider, MyCOM retains 30% and pays
- 30% to the purchaser
- 1% to 4% to the referring MyCOM affiliate (primarily based on how a lot they’re paying in charges)
- 4% to the MyCOM Professional Advisor assigned to the shop
- 15% to “regional managers”
- 20% by a ten-level deep unilevel staff
MyCOM deliberately hides this unilevel compensation construction. You gained’t discover it anyplace on the web or of their advertising and marketing movies.
The rationale I’ve seen cited for the deception is as a result of MyCOM doesn’t need to be seen as an MLM firm. They really feel this can higher place them to draw retailers (see screenshot above, that’s going swell).
Shady enterprise practices apart, MyCOM’s Market failed as a result of it’s an outdated mannequin.
MyCOM expenses clients for entry primarily based on a three-tier pricing mannequin:
- Primary – no value
- Plus – $60 yearly
- VIP – $120 yearly
The extra you pay the extra COM factors you’ll be able to earn.
Oh and as a possible buyer, you need to be referred by an current MyCOM affiliate.
That’s going up towards the multitude of free apps and browser cashback/voucher extensions – all of which offer vastly superior protection of accessible retailers.
No charges, no restrictive ecosystem to purchase into, and a few of them truly supply moneyagain.
That’s what MyCOM’s Market enterprise mannequin is competing towards. So it’s no marvel the idea failed.
That is the Achilles’ heel of each MLM ecommerce cashback platform. Charges have the be charged someplace or there’s no commissions to pay out.
With respect to affiliate charges, MyCOM expenses:
- Enterprise Guide – $360 yearly
- Skilled Rep – $600 yearly
- MyPoint Professional – $900 yearly
Once more, how a lot you spend immediately impacts incomes potential.
MyCOM’s enterprise charges are:
- Free – no value, capped at $500 Shareback
- Plus – $100 yearly, capped at $50,000 Shareback
- VIP – $300 yearly, capped at $150,000 Shareback
Similar story.
MyPoint membership is $900 yearly or $75 a month. It seems to be a purely “improve your revenue potential” membership price.
Whether or not commissions are paid out on the above membership charges will not be disclosed. I’d assume so, in any other case what else is MyCOM doing with these charges?
Anyway now that we’ve established what MyCOM is and why it failed, let’s transfer onto the following section of Tesora Monetary: crypto shitcoins.
There are a ton of shell firms inside Tesora Monetary, only some of which have been elaborated on.
The first firms we’re going to reference are Bitcoin Belief, Tesora Belief, Tesora Custody and Tesora Trade.
Tesora Monetary’s main shitcoin is Bitcoin Belief.
Primarily based on the corporate’s roadmap, Bitcoin Belief (BCT) is an ERC-20 shitcoin.
ERC-20 shitcoins will be arrange in 5 minutes or so on the ethereum blockchain, at little to no value.
MyCOM associates make investments immediately into BCT by their backoffice.
As per the above instance from Jaime Villagomez’s backoffice, Tesora Monetary sells BCT to associates for 0.9994 USDT every.
The first motive for BCT funding, as per Tesora Monetary’s personal advertising and marketing, is the implication that affiliate buyers will finally be capable of withdraw greater than they invested.
Attributable to aforementioned secrecy, I wasn’t in a position to confirm whether or not commissions are paid on BCT funding.
As soon as invested in, BCT is parked with the corporate. In trade for doing this, Tesora Monetary rewards affiliate buyers with extra BTC. Inner worth goes up, and thus associates money out greater than they invested.
In different phrases BCT is your typical MLM crypto passive funding scheme.
Constructed into this a shitcoin manufacturing facility (why cease at one shitcoin), purportedly hooked up to themed smart-contracts.
Certainly one of these shit tokens is “mobility token”:
In a mobility token promo video uploaded in August 2020, My ECOM pitches “you’ll be able to drive you dream automobile, without cost”.
The concept is associates spend money on mobility tokens, get extra mobility tokens as a return, money out different folks’s cash and that cash is used to repay the automobile mortgage.
The mobility token scheme has a spot on Tesora Monetary’s web site below “AutoMobility”.
There you discover a hyperlink to a different web site, “automobility.it”.
So far as I can inform, Auto Mobility is an unbiased Italian enterprise that predated MyCOM.
Naturally there’s nothing a few mobility token on Auto Mobility’s web site.
The one reference I discovered was one submit on Auto Mobility’s official Fb web page, dated August 2020.
Appears form of odd Auto Mobility isn’t promoting free automobiles throughout its web site.
Different themed shit tokens Tesora Monetary pushes is a enterprise startup (energy begin) and actual property (energy home). Similar nonsense, spend money on tokens, park tokens, get extra tokens, money out – free every part.
Tesora Belief is a secret passive funding alternative. It has a spot on myCOM’s web site however the firm is deliberately opaque about specifics:
“Holding property” appears like one other avenue to park tokens, get extra tokens and money out by.
The linked web site area, “tesora.io”, naturally doesn’t work.
Tesora Custody is a passive bitcoin funding alternative, accessible by myCOM.
Deposit your bitcoin into Tesora Custody and earn extra cash!
There is no such thing as a sense in holding your bitcoins with out buying and selling, place them on deposit, and make them give you the results you want!
Seems like your typical crypto buying and selling Ponzi scheme ruse.
Lastly we have now “Mining Farm by Tesora Group”, one other passive funding alternative.
Mining Farm by Tesora Group permits by Tesora tokens [sic] for group members to take part with out having to handle the expertise.
That is the solely reference to a “tesora token” I got here throughout.
By providing a number of passive funding alternatives by their MLM alternative or in any other case, Tesora Monetary Group and Jaime Villagomez have created and are selling a number of securities choices.
With all of this happening within the US, this implies myCOM and Tesora Monetary Group have to register their securities choices with the SEC.
Neither MyCOM, Tesora Monetary Group, any of the recognized shell firms or Jamie Villagomez are registered with the SEC.
And now you realize why that is all stored secret and quietly marketed behind closed doorways.
To recap;
- myCOM is a failed ecommerce platform MLM firm that hides the very fact its an MLM firm;
- father or mother firm Tesora Monetary Group has jumped on the crypto bandwagon, launching a number of passive funding schemes;
- neither myCOM or Tesora Monetary Group are registered with the SEC, that means the corporate is committing securities fraud and working illegally.
You recognize the drill. This gained’t finish properly.