Joff Long Reveals New Luvv Crypto Token Plus CryptoAdix, BetaGroops and Heather App
Joff Long Reveals New Luvv Token Unregistered Securities
It seems that Jeff Long’s project LUVV does not seem to be capturing the attention of several investors. Or at least, the reception has been moderated. According to Alexa statistics for the Luvv project, there is a sudden spike in interest that has been followed by a steady decline.
At the moment, Long is announcing the Luvv token, which is going to be supported by the ERC20 standard. According to Long, the token will be extensively used in their Luvv ecosystem.
Additionally, Long is asking users to pay between $100 and $200 dollars per month or $1,000 during a year as inner circle fees. Investors will be receiving Luvv tokens for their funds (100,000 if the investor paid $200 or 1,000,000 if the user paid $1,000 dollars). Additionally, the inner circle members will be put into a ‘profit rotator.’
That means that users would be a in a queue of people that will be receiving money of the transactions made using Luvv tokens and other business related to Long. Every time a transaction is processed, the person that is at the top of the queue gets paid and goes to the queue again. Once the next transaction is paid, the second person on the list gets paid, and it goes to the queue again. And in this way, we can keep with thousands of transactions.
At the same time, Long is working with CryptoAdix, BetaGroops and Heather App. CryptoAdix, for example, promises members to earn cryptocurrencies just by ‘checking out offers’ that will be delivered via Telegram.
BetaGroops, for example, looks like a KickStarter/GoFundMe platform. The description of this platform reads as follows:
“A Saas platform that would allow product creators to create and manage a list of beta users who help fund, test & perfect their ideas to prepare for launch to the public!”
However, the BetaGroops project will not be available for users until the first quarter of 2019. The Heather Ap will allow users to manage the everyday agreements made with other individuals. But it is not clear how the app will work.
In order to be a security, the Luvv token would have to be sold to users with an expectation that their funds will passively increase in the future. This can be confirmed with the ROI it would pay to users on the platform.
During the presentation video, Long talks about the platform and how it will be working. He says that the value of these tokens alone are worth the cost of this program ‘and more.’ Investors would be able to collect a ROI offloading their Luvv tokens to bagholders. Moreover, Long is also projecting a value of over $200 in a month or $1,000 in just a year.
At the same time, they are also planning to create an e-commerce platform in which the Luvv tokens would be used. But there would be no clear reason why to use these Luvv tokens just to buy in a small marketplace with limited offers.
Those users that are outside Long’s inner circle will not be interested in these Luvv tokens, becoming just a speculative cryptocurrency.
Jeff Long and Luvv are not registered with the SEC to offer securities in the United States. That means that the Luvv token offering is currently offering illegal securities, according to the US securities law.
Users are investing $100 or $200 dollars a month, or $1,000 dollars a year, with the promise of receiving an expected ROI. The company explains that the membership fee that users pay today is the way of positioning users to profits in the future.
The Inner Circle Membership Website Explains:
“Think of it like you found a $2,400 per year business opportunity and you’re being allowed to make $200 per month payments and you’re happy to do so because every month you pay, you’re securing yourself a potential $20-$200 per day.”
Users that pay for the $100 inner circle membership will only be able to enter five rotators and investors would not get any tokens. Furthermore, Long explains that there is a guarantee of 90 days if the project does not deliver anything promised to the users.
“If after a period of 90 days, for whatever reason I have not delivered on everything I have said I would deliver on… I will issue you a FULL refund of what you have paid,” he said.