Seemingly trapped in Russia and desperately making an attempt to cowl beforehand failed launches, Blockchain Sports activities has launched JGGL (pronounced “jiggle”).
JGGL is an app that sees customers enter varied prompts to generate AI slop “music”.
Oh and naturally JGGL brings with it a brand new layer of securities fraud.
JGGL’s public-facing enterprise mannequin is fairly simple; have AI bots of unknown origin regurgitate slop from undisclosed sources and get charged charges for each motion.
Not so disclosed, as in not disclosed in any respect, is Blockchain Sports activities promoting digital shares in JGGL for as much as $100,000:
Marketed as “founder packs”, JGGL’s digital shares seem directed to present Blockchain Sports activities traders – most of whom have already misplaced cash.
$JGGL tokens are used to pay charges to make use of the app. Whether or not $JGGL is one other cryptocurrency Blockchain Sports activities has created isn’t disclosed.
On the regulatory entrance JGGL, like Blockchain Sports activities, isn’t registered with monetary regulators in any jurisdiction. Providing unregistered shares is prohibited in each jurisdiction with a regulated monetary market.
On the MLM aspect of issues, JGGL presents up a seven degree deep unilevel compensation plan.
- degree 1 (personally recruited promoters) – 10%
- degree 2 – 5%
- ranges 3 to 7 – 2%
Word that is on the Founders Packs. Blockchain Sports activities seems to maintain all app income (if we’re being trustworthy, JGGL app income is more likely to be negligible).
Moreover, 5% of JGGL Founders Pack funding quantity is shipped to the Legends Pool.
JGGL promoters earn a share within the pool by producing $500,000 in downline funding quantity. $1,000,000 in downline funding quantity will get you three shares.
Clearly with nothing marketed or bought to retail clients, the MLM aspect of JGGL operates as a pyramid scheme.
Blockchain Sports activities is run by by convicted fraudster Dmitriy Saksonov (aka Dima Saksonov).
Since late 2023 Blockchain Sports activities has been a part of Jeremy Roma’s four-times collapsed Daisy International Ponzi scheme.
JGGL marks the fourth reboot of Blockchain Sports activities. The unique Ponzi was a shitcoin rip-off constructed round SPORTS and FTBLL tokens.
Blockchain Sports activities’ second iteration was an NFT Ponzi constructed round ATLA token, focusing on Daisy International traders.
After that got here some AI drifting nonsense. Now we have now one other AI ruse with JGGL.
JGGL’s launch coincides with a not too long ago launched fifth Daisy International reboot, equally using an AI buying and selling bot ruse.
