18/06/2024

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Is Kok Coin Legit Or Ponzi Scam?

Is Kok Coin Legit Or Ponzi Scam?

As the Digital World is moving on, the usage of new Blockchain Technology based Cryptocurrency is going on. Cryptocurrency is a relatively new way to invest and manage our wealth in the future.

In this digital bull run, Kok Play is one type of Digital Service and also a cryptocurrency token, named Kok Play Coin.

Kok Play allows investors and trader to access their digital content Platform and made an investment opportunity and transaction with Kok Play Crypto Token.

Probably, for this type of Digital Service and investing through a Digital Coin, some people consider the KOK Play Service game to be a scam or some think, it is real.

Here, in this researched content, I will review What the KOK Play Company is all about whether it is an MLM Cryptocurrency Scam or Authentic Crypto Investment Token.

What is Kok Play?

KOK” stands for Keystone of Opportunity and Knowledge. Kok Play provides a digital content platform that allows people to access their digital content. This is based on the latest Blockchain technology where people can invest and trade their money through Kok Play coin.

KOK Play claims to be a fully decentralized digital content platform by working with the motto: ‘Fair & Shared Digital Contents Ecosystem Enabled by Blockchain and AI’.

Mostly, the company focuses on digital content such as live streaming, games, webtoon, music, K-dramas, and movies. Moreover, there is also the option for online and offline shopping. There are 4 languages available on the site, English, Korean, Japanese, and Chinese.

The Kok token base DApp is managed on the blockchain. Some claim that it is NFT (Non-Fungible Tokens). NFTs are used to sell or auction digital goods and artifacts.

kok token chart

The KOK token is listed on Coinmarketcap as shown in the chart. It is ranked 621 in the global market. It evolved into ERC-20. An ERC-20 token is a standard that governs the creation and issuance of smart contracts on the Ethereum blockchain.

The Man behind KOK Play Coin

Basically, There is no information about who founded the KOK Play project on its website. But, As per the White Paper of KOK Play, Young Cho is the CEO, Kiwoon Baik is the Vice Chairman.

CEO Young Choung and VC Kiwoon Baik..webp

Andrew Park is the CSO, and Yongseok Kwon is the CTO of Kok Play.

CSO Andrew Park and CTO Yongseok Kwon

Note: Kok-play.io domain was first registered in August 2019. The parent company of Kok Play is Medium inc. whose domain is themedium.io was registered on 15 October 2018.

Kok Play Company Profile

Company Name KOK Play
CEO Young Cho
Started 2019
Products and Services Crypto Token & Digital Content Platform
Website https://kok-chain.io

How the KOK token works

Using the KOK Play app on your Android or IOS mobile phone, you will get access to their environment where everything is in one program and the app is used in the decentralized web. The app has a KOK Token Mining feature including access to online games, online shopping malls, Wen Series broadcasts, etc.

Affiliates can generate extra revenue through selling games, shopping portal fees, and general KOK token transaction fees. This token operates on the base DApp blockchain and NFT which is USD to sell or auction digital goods and artifacts.

KOK Play’s Products and services

Kok Play has not any retail products or services. Affiliates of Kok Play market KOK Affiliate Memberships to others.

There are three available investment plans:

  • Buy $100 – $1499, and get a 3% return per month
  • Buy $1500 – $9999, and get a 5% return per month
  • Buy $10,000 or more, earn 7% monthly returns

Once 200% ROI is reached, affiliates need to reinvest to continue earning.

How to Join Kok Play

To join this digital content platform, all you need to do is install the Kok Play Android or iOS app. Once you do this, you can start registration by entering the required details and setting a password. Here is the step-by-procedure for Join Kok Play.

  • Step #1: Install the Kok Play app on your Phone.
  • Step #2: Enter the required details and register by setting a password.
  • Step #3:Deposit a minimum of $100 to start mining. It can be deposited into the wallet with BTC, ETH, or USDT.
  • Step #4: After Deposit money and start mining and Invite more people to earn extra money in your wallet.

KOK Play Affiliate Ranks

As per the compensation plan of Kok Play, it offers 9 affiliate ranks with different eligibility criteria.

Level Criteria
Affiliate Sign up and invest in KOK tokens
1 Star 5 directly recommended people
2 Stars 1 star each on 3 lines with 5 direct recommendations
3 Stars 2 stars each on 3 lines with 10 direct recommendations and over $30000 in referral volume
4 Stars recruit three 3 Stars
5 Stars recruit three 4 Stars
6 Stars recruit three 3 Stars
7 Stars recruit three 5 Stars
8 Stars recruit three 6 Stars

Note: Keep in mind, recruited affiliate members by you should also have active investments earning a daily ROI to count towards rank eligibility.

Kok Play Compensation Plan

1. Referral Commissions 

Referral commissions are earned by joining people as new affiliates

KOK Play pays referral commissions using a Unilevel compensation structure that places an affiliate at the top of a Unilevel team.

  • Recruit 1 Affiliate and Earn a 100% Referral Commission Rate at Level 1 (Personally Recruited Affiliate).
  • Recruit 2 affiliates and earn 100% at level 1 and 20% at level 2.
  • Recruit 3 affiliates and earn 100% at level 1, 20% at level 2, and 10% at level 3.
  • Recruit 4 affiliates and earn 100% on level 1, 20% on level 2, and 10% on levels 3 and 4.
  • Recruit 5 affiliates and earn 100% on level 1, 20% on level 2, and 10% on levels 3 to 5.
  • Recruit 6 affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5, and 5% on level 6.
  • Recruit 7 affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5, and 5% on levels 6 and 7.
  • Recruit 8 affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5, and 5% on levels 6 to 8.
  • Recruit 9 affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5, and 5% on levels 6 to 9.
  • Recruit 10 affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5, and 5% on levels 6 to 10.

The more people one brings to the company, the more one earns.

Referral commissions are paid as a percentage of KOK token returns paid daily.  The more people sign up for the company, the more an affiliate can earn. These commissions are typically calculated monthly across the Unilevel team.

Generation Profits

Generation Profits or the mining reward is earned after staking a certain amount of cryptocurrency. In this Platform, the Kok Play cryptocurrency token is equal to the % of the USD value of the token deposit that will be paid as a reward. These commissions are paid on team levels.

Level Staked amount Reward Percentage
3 Stars $100 or more 3%
4 Stars $1,500 or more 5%
5 Stars $10,000 or more 10%

Affiliate ROI Commission

By Investing $300 or more, Bonus commission rates are paid on monthly returns to personally recruited affiliates.

Level Requirement
1 Star 1% Bonus
2 Stars 3% Bonus
3 Stars 3% Bonus
4 Stars 3%Bonus
5 Stars 4% Bonus
6 Stars 5% Bonus
7 Stars 6% Bonus
8 Stars 10% Bonus

Is Kok Play Scam or Legit?

Products And Services

The company has digital content platforms using cryptocurrency and AI technology for the betterment of advertisers and creators. But, in reality, there is no interesting unique quality content on the platform. Mainly it shows those films, dramas, and Games that are easily available on Youtube Free Version, Playstore, and AppStore.

Kim Kyung-Nam, a lawyer at the Seoul-based ForYou legal firm is opening in that Kok Play’s claims that it would overthrow “existing media conglomerates and make huge profits” were “baseless’.

According to a published article in Korea Times Daily, The lawyer claimed that Kok Play had thus far created just 10 TV programs that could also be “viewed for free on YouTube.” Kim added that it was “only a matter of time” before investors “exit and a run on the coin occurs.” Kim Kyung-Nam concludes, Even this program can be viewed for free on YouTube.” What is certain is that those who entered Coqcoin must escape now.”

About Company

As per Linkedin, Kok Play Foundation is located in Dubai. But, as per their official, their executives are based in South Korea. Moreover, their parent company, themedium.io was registered on October 15, 2018, which shows, it is a new organization, not the old one. And, the parent company, Medium have also a Token name, MDM. As you can see on coinmarket.com, the Token is not so popular. In April 2022, Russian authorities say KOK PLAY is a pyramid scheme and their website domain has been abandoned since.

Earning Method

At the moment of researching the company and writing the post, the company has any products and services. So, how you can earn money? The Affiliate of the company is earn money by promoting their joining membership. When some buy and join the company by paying $100 or more to the KOK Tokens, the affiliates will earn money, indirectly, not directly. The company will give the amount in KOK Tokens, which you need to exchange into dollars.

Reddit Post

For those of you not very versed in crypto currencies, decentralized networks need people to lend their computer processing power to run the network. This is usually done by offering rewards for contributing based on how much you contribute to the network in the currency of that network. This process is known as mining and is pretty common but is not a very lucrative business most of the time.KOK models itself as an exclusive crypto start up project with the offer to buy in “at the ground floor” as the sales pitch goes. You buy in to get their tokens (which they do actually have an ERC-20 token). An ERC-20 token is a coin that is made on and run on the Ethereum network (the second largest crypto currency). They are really easy to make, kind of like a phone app, and are literally a dime a dozen these days (there are like 2-3k erc-20 tokens).The scam then combines a ponzi scheme disguised as “crypto mining” with a pyramid scheme ala good old fashioned multi-level marketing. Where the more you recruit the higher your passive rewards in the ponzi scheme goes. Rates are excessively too high from 3-7% per month (36-84% APY) and going up to 200% per month. Which is grossly excessive for a passive income crypto staking program, especially one thats centralized and has no users or network users yet.

Snorkle25

Pros and Cons of KOK play

Pros:

  • Founders of the Kok Play seem to be experienced in Technology Field and seem to be well-dedicated.
  •  Kok Play has a Digital COnetnt platform that claims to offer a variety of services and investment opportunities.
  • The Percentage of Commission is good to earn.

Cons:

  • They claim to rival Google Play and the Apple Store, but they have yet to create their own currency
  • Kok Play looks like Pyramid Scheme. Because the main source of revenue comes through recruiting affiliate members.
  • The founders are associated with failed crypto scams.
  • KOK play does not claim to be registered with any financial regulator.

Conclusion

To Sum up the review, after Analyzing these all facts, I decided to keep KOK PLAY in Red Zone. I hope you have seen all about the real facts of the company and its Token. Now, It depends on you, Would you like to join or not? If you say, what I will do, My Answer is, I will not join those kinds of companies or schemes.

Now, I want to know you:

Have you already invested in Kok Play Coin? or thinking about it?

Let me know in the comment section now.

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