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If you’re visiting this webpage, it’s probably because you’ve come across the Forsage app, perhaps on social media or through direct invitation by a relative. Forsage is a relatively new entrant in the MMO industry that has garnered quite a bit of attention, from investors and government regulators alike.
The million-dollar question is: is Forsage a scam?
I’ve had my fair share with similar programs and I’ll help break down for you the ins and outs of Forsage. In the end, I’ll top it all off with my expert opinion on whether this company is too legit to quit.
What is Forsage?
- Name: Forsage
- Owner: Lado Okhotnikov
- Website: forsage.io
- Price: Joining fee from 0.05ETH
- Rating: 1/10
From what I’ve gathered from the corporate website, Forsage is an international crowdfunding platform for the new generation. It’s allegedly the first-ever investment platform to utilize smart contract technology, using a marketing matrix centered around Ethereum’s blockchain.
If all of this seems like gibberish, I agree. I couldn’t for the life of me figure out what the hell Forsage is about from their description alone.
After breaking their jargon down to more understandable terms, Forsage basically works like this. You join by paying a 0.05 ETH fee and are asked to recruit new members to do the same. This new recruit invites other people to join who also pay the same entrance fee. This process continues ad infinitum, and all transactions are logged through Forsage’s blockchain network.
However, after scouring their site for several hours, I haven’t found an official statement of what clients use their platform. Also, shouldn’t the site explain how it handles crowdfunding? Also-also, where in the world do the funds go?
The sour cherry on top of this steaming pile of red flags is that in the Philippines, where Forsage is headquartered, the company is not regulated by their SEC. Smells pretty fishy if you ask me…
What Do You Get from Forsage?
When you pay the 0.05 ETH to join the Forsage network, you don’t get a packaged product to promote or sell in return. Instead, all of your efforts go into recruiting new members.
Upon registration, your initial investment is divided and placed into two programs: the X3 program and the X4 program.
In the X3 program, there are three open slots below you in a horizontal line. The investments made by the first two slots go directly into your Ethereum wallet, while the fee from the third slot goes to your upline (the person who invited you). Each filled slot earns you 0.025 ETH in return.
As for the X4 program, there are six open slots: two directly below you with two below each of them. Earnings from the slots directly under you go to your upline, while slots three, four, and five go to your wallet. The sixth slot, if filled, goes to your upline and also a pool which is divided amongst members, known as “spillover.”
Can you get paid from Forsage? It’s possible. Due to the decentralized nature of the Ethereum blockchain, all of the membership fee payments go upline instead of going directly into the hands of the top leader without a 30-day payout period.
There are reports from Forsage users who have earned around $480,000 in nine weeks, while others earn upwards of $20,000 daily. Sounds a bit too crazy if you ask me.
I’m not saying it you can’t potentially earn money from Forsage, but it takes a heck of a lot of work to do so. That, and luck—if you earn more than $1,000 a day upon joining the Forsage team with little to no attempts at recruiting, it’s most likely due to the sweat and tears of those under you.
Is Forsage A Scam? Check Out These Red Flags!
So, the question in everyone’s mind: is Forsage a scam? 100%, with a doubt, Forsage is a humungous Ponzi scam masquerading as a revolutionary crypto crowdfunding platform.
Take a look at these red flags and see if you agree.
Red Flag #1. No Information on the Team/Founder
The Forsage website offers nothing regarding founder Lado Okhotnikov. Online sources state that he’s a Russian native running this Philippines-based MLM organization while possibly residing in Tbilisi, Georgia.
Red Flag #2. No Substantial Product Offering
Forsage does not manufacture or distribute tangible products. This means your job is not sell products from a warehouse in the Philippines to consumers. There’s absolutely nothing to consume expect for the whole MLM bull they’re trying to pass off as a crowdfunding platform.
Red Flag #3. Earnings Solely Dependent on Recruitment
Like any MLM organization without a tangible product, your earnings are completely dependent on how many people you recruit. When your X3 and X4 slots are filled, you need to re-invest into the Forsage network by paying twice as much for the previous level. Only then can you begin to multiply your earnings, assuming you manage to recruit new people.
Red Flag #4. Cautions from the Philippines SEC
If the Philippine’s SEC warns against investing in something, you better tuck tail and run. Without regulation, Forsage has free reign over what to do with the money you invest. The decentralized nature of the Ethereum blockchain is somewhat comforting, though there’s no way to know how the money is used. It’s only a matter of time before Forsage collapses like every Ponzi scam before it.
Verdict: Forsage Is a Ponzi Scam
So, what we’ve learned about Forsage is that it’s an international crowdfunding platform that uses smart contract technology to do something with your money, and you’ll earn a portion of it back for every new recruit you find.
Indeed, you can make money with Forsage, but it’s only a matter of time before there’s no one left to recruit and nobody earns anything. All that you’ll have to remember about Forsage is a Lado Okhotnikov-shape hole in the wall.
Instead of begging your friends, neighbors, and coworkers into joining the Forsage network, why not put your efforts into a project with real results? I’m talking about affiliate marketing.
By marketing another person or company’s products online, you can earn a commission for each sale that you create. You can also sleep soundly at night knowing that you’re selling a something of value instead of forcing an overinflated promise of overnight wealth down the throats of everyone around you.
And you don’t need 0.05 ETH to join this affiliate marketing training academy. It’s totally FREE to join and get started.
Hey, it’s Kenny here. I’m a single dad, freelance writer, an affiliate marketer. I have been making a living online since 2016, after quitting a 10-years engineering profession. When I’m not on the laptop, I’ll be in the kitchen experimenting with new cuisines.