What does WEWE Global sell?

The business model of a multilevel marketing scam

Let’s walk through the typical WEWE global sales pitch, and attempt to understand what the investment opportunity being offered here actually is.

We will review the talking points from a debrief presentation Michael Faust prepared after attending the WEWE Global Summit in Dubai in 2022.

Faust doesn’t have a sparkling record, having previously promoted “Project Lantern” and “Hyperverse / Hyperfund” - both of which turned out to be scams, so it will be interesting to hear what attracts him to WEWE Global.

While the lack of any legal entity, legal jurisdiction or even a product may ring alarm bells for some, Michael insists that this is in fact an advantage.

The DAO is described as a community who reach decisions through consensus. This governance process is described as

Everyone who participates in WEWE Global has a say, and once you reach a certain level of confidence in this opportunity you get to submit ideas … and then the people who make up the DAO get to vote on these ideas. The more you have achieved, the more your vote is worth.

This type of experimental governance has worked well for some open source software projects, where influence is driven by the most active members. However this governance structure creates some perverse incentives that present some challenging questions when the handling of members investments is at stake.

Governance here is structured in such a way that only members “of a certain level” can submit ideas and the votes of these same members is worth more than everyone else. It would seem that those members at the top of the pyramid scheme would wield all the influence.

The next several slides are dedicated to describing what LyoPay is. This is very curious, as within 4 months from the creation of this video, WEWE Global rewards transitioned from using the LYO token over to using another token called LFI.

This transition, is described in the below by Simple Passive Income - a YouTuber who is one of the WEWE Global resellers based in South Africa.

It would be interesting to see who in the DAO made the suggestion to change the reward payment token, the tally of votes for making this decision, and how much the technical team who maintain the WEWE Global web interface were paid for implementing this change.

As to be expected with a scam like WEWE Global, none of the DAO decisions appear to be visible in a decision making register, there is no tally of votes available to members and we are in the dark on what entity made the change to the website … a “fully transparent ecosystem” indeed.

I suspect the real reason may be that the market price of this token (prices in either BTC or USD) has fallen precipitously over this period, and even those at the top of the pyramid are wondering if they will recoup their return on investment.

We haven’t even got to the investment opportunity and already there are some red flags here to be concerned about.

In the next article, we’ll continue our deep dive into WEWE Global and discover what the mechanics of the “investment opportunity” actually is

DO NOT INVEST YOUR MONEY IN WEWE GLOBAL

IT IS A MULTILEVEL MARKETING SCHEME

DON’T RISK YOUR SAVINGS ON FALSE PROMISES

NO MATTER HOW CONVINCING THE SALES PITCH