Nui Releases New COCO Token and CompChain Blockchain in Latest Pyramid Recruitment Deal
Nui just launched CompChain, which describes itself as a platform that is “challenging the scope of networking as we know it.” The platform is built on:
“immutable blockchain technology . . . [it] allows you to lock in your network for life, and tap into new products and opportunities as they’re added to the platform.”
Unlike data being stored in a traditional database, it is stored on the blockchain.
The company functions as a uni-level marketing company. Even so, it functions similarly to a traditional MLM. Nui runs CompChain, and as a result, if Nui goes under, then the same would likely happen to CompChain. Also, because Nui runs as an MLM company, there is the risk of that occurring.
Further, CompChain has an interested stipulation in its terms and conditions. According to the conditions,
“CompChain reserves the right, in its sole discretion, to terminate your access to the Site and the related services or any portion thereof at any time, without notice.”
Many MLM companies have similar conditions. Another issue to be alarmed about is that the platform does not have its own products and most funds arise from the sale of affiliate membership.
Again, this is a quality that is pretty common among MLM companies. Affiliates who register will receive $3 in CompCoin, which in itself, does not indicate that it is going anywhere.
Overall, Nui’s CompChain does seem to have some questionable practices. There is no indication as to whether joining what looks to be an MLM structure is worthwhile.