In the month of August, myWorld/Lyconet top leader grace us with important information about their share program and how to supposedly get your money’s worth. Although this information was much needed, one is, as always, not a lot smarter than before. MyWorld/Lyconet is and remains a pyramid scheme that, despite being a “shopping community”, is mainly financed by recruiting new marketers and them investing, as well as existing marketers’ investments.
And yes, it is an investment, as
myWorld calls it so itself in the KYC
process. “Lyconet is obligated to
monitoring the performance of my
investment and notifying me of any
Dennis Scibiorksi reintroduces the KYC process: A photo of the passport or ID card must be uploaded, then one takes a picture of one’s face and uploads it so it can be matched. Then, in the Lyconet back office, the application form must be filled out and digitally signed, truthfully of course. But it is in fact impossible to go through the KYC process “truthfully” especially since “no” is not accepted for many of the questions in the application form, BEKM reported on 07/13/2023.
Then all steps are done to get one’s “shares” assigned. This must happen until the end of the month (August), otherwise you give away “cash money”, which means that you no longer have the possibility to get your “shares”.
Furthermore, the MSP program/share program/stock program is explained: In the Marketer Backoffice under the point MSP you can see your “MSP International”, which were accumulated by all past purchases in the Cashbackworld. 1000 MSP corresponds to one share. The “Personal Score” shows how many company shares have been “notarized” (name certificate). As of 08/07/2023, the “share value” is €590 according to myWorld. How this increase of € 90 came about will remain a mystery, while stock market experts can only shake their heads. In addition, according to myWorld, there is a “legal and regulatory” lock-up period of 18 months until one is allowed to sell those “shares” for the first time. Then you could keep them, participate in further performance, collect any/all dividends, OR “liquidate”/monetize them, as it is described in the video.
From this Pot, the company receives half of the marketers’ shares, from which monthly payouts should take place through possible sales and dividends, starting January 2025 according to the factsheet.
What about the “My Cloud Score”, the other half of the MSP generated by marketers? From this Pot, the company receives half of the marketers’ shares, from which monthly payouts should take place through possible sales and dividends, starting January 2025 according to the factsheet. For the monthly distributions a marketer must have, who would have guessed it, active status. This means that the marketer and his customers have to generate a monthly 2000 Euro purchase volume at partner companies, or one activates the monthly order/shopping point pack. One must be active by the end of the month (August) at the latest and then stay active.
That’s quite a few hurdles to overcome to become, be and stay a “shareholder” at myWorld/Lyconet, and that’s on top of all the purchases and investments one has already made over the years – as always and as before, with no guarantee of ever receiving a return on investment.
Peter Gruber describes the Elite Seminar in the “August Outlook” as “amazing” and immediately promotes the next Elite Seminar on July 6th and 7th of 2024, where the currently advertised “MSP Asia” will be activated on site. Tickets are again sold in “packages”, we remember top marketer Larissa Poppel, who then tried to get rid of her remaining tickets shortly before the start of the elite seminar, in combination with an educational video and a mailout. She probably made more money doing this than any with “incentive” at Lyconet, that is because of her status and position as a top marketer.
Sharif Omar once again talks about the “20-year Anniversary of Cashback” and that although they tried to sweep a connection to Lyoness under the rug for years. As a matter of fact, Lyoness Europe AG is the company that Hubert Freidl founded 20 years ago (2003) in Switzerland, and not myWorld/Cashbackworld. MyWorld will, according to Sharif Omar, allegedly introduce one of the first e-wallets on the European market, in cooperation with Sky 2, which should bring live cashback to the customers, and one should be able to use the myWorld app like one’s own bank account and pay with the app at merchants.
Finally, Peter Gruber informs about “sales incentives” for so-called “referrals”. If a marketer from the downline places a “one-time order”, one receives the same benefits – classic MLM culture. Such sales incentives are also available for recommending the Elite Club membership