The remarkable promise of some online advertising platforms can at times be too good to be true. As a matter of fact, certain platforms have ridden on the cryptocurrency mania to defraud unsuspecting investors.
Consequently, the task of ascertaining how legitimate burgeoning platforms are has become supremely important. Let’s pass one of these companies, Futurenet, through that litmus test.
Essentially, FutureNet has the likeness of a social media network platform such as Facebook. In fact, the platform touts itself as the ‘social media for business'. The hub can be utilized by businesses in the crucial role of promoting their digital information online.
This connected marketplace requires users to advertise certain products on their social platform and recruit members. These products are not tangible but rather the opportunity to advertise.
The stated mission is to:
“develop the first social platform whose innovative communications instruments and products offer people globally the possibility to use their online potential optimally.”
Some Red flags
For one, the fact that the site is based in Marshall Islands is something that raises eyebrows. While it may turn out to be just a tax avoidance strategy for instance, it does not help credibility wise. Conversely, the choice of location could be a ploy to escape keen regulation in more established markets.
Even though the network is free to join, there are certain payments that come later. These are in the form of levels you qualify for along the way. The basic member package is $10 while the highest Royal package is an eye-popping $1,685. This is screams Ponzi scheme since there is a cyclic flow of money with the payments sustaining those who work on the platform. They in turn recruit others with the promise of earnings which they can prove.
With a promise of advertising money, it is easy to attract many social media users. Interestingly, you can’t access even the slightest information on their site without signing up for an account. This lack of transparency is not consistent with ethical company practice.
Is it a scam?
Yes, I am positive that the platform is a scam. This an opinion based on the layout and practices of FutureNet.It is difficult to make a bold claim about how long such a platform can last because it seems solid for now.
Currently it is possible to make a profit with them, even at times higher than other ad platforms. However, as with many fraudulent schemes majority of the members are left high and dry when the plug is pulled. This can bring along massive losses and zero ROI. Therefore it is not advisable to make investments on FutureNet. Unless you have money to spare or are an avid risk-taker, you have no business there.