Is IDAA Games Coin a Ponzi Scheme? Alpha Games Exposed 2023
IDAA GamesCoin, a cryptocurrency initiative merging gaming and blockchain tech, is linked to the global gaming platform, IDAA . The platform employs GamesCoin as its in-game currency, touted for its potential as a digital asset.
Within the context of being an MLM company, IDAA is a sprawling mess:
In this review, our focus centers on IDAA Games and GrowthPool.
IDAA operates as an MLM opportunity, primarily involving Alpha GamesCoin token investments. Within the IDAA platform, GrowthPool is presented as a separate MLM income opportunity.
Notably, IDAA Games lacks transparency regarding ownership or executive details on its website.
The domain for IDAA Games’ website, “idaa.games,” was registered on April 16th, 2020, with the private registration last updated on April 15th, 2023.
Similarly, GrowthPool also lacks clarity regarding ownership or executive information on its website.
The domain for GrowthPool’s website, “growthpool.org,” was registered in December 2021, with the private registration last updated on November 9th, 2023.
An identifiable name associated with IDAA is Anton “Toni” Federspiel, believed to be from Austri.
Federspiel is a prominent advocate for IDAA and stands out as one of the highest earners in the defunct OneCoin Ponzi scheme.
During a marketing presentation in October 2023 conducted by Federspiel, a slide identified Alex Suarez as the founder and President of GamesCoin Group.
IDAA Games is associated with the GamesCoin Group, and it’s presumed that Suarez owns it, although this information is not explicitly stated.
There is no clear evidence of Suarez having any history in MLM.
On the IDAA Games website, they claim connections to the UAE through Independent Digital Assets Alliance LLC.
Reportedly, Independent Digital Assets Alliance LLC is registered as a shell company in Sharjah, which is in close proximity to Dubai, known as the MLM crime capital of the world.
While caution is advised for any MLM company linked to or based in the UAE, IDAA Games seems to operate from Germany, in contrast to its claimed UAE ties.
According to the IDAA Games invoice provided, the company functions under the name Youre Family GmbH, a registered German company.
The seemingly innocuous name “Youre Family” is likely employed to deceive banks and evade regulatory scrutiny.
In November 2023, SimilarWeb analyzed the primary sources of traffic to IDAA Games’ website, with Austria (33%), Germany (26%), Italy (20%), and Switzerland (7%) being the key contributors.
The GrowthPool homepage appears to be a simple affiliate sign-in form, lacking any informational content.
When considering involvement or financial transactions with an MLM company, it’s crucial to exercise caution if there’s a lack of transparency regarding ownership or leadership. Always think carefully before joining or investing money in such cases.
Products
IDAA Games offers no sellable products or services. Affiliates can solely promote the IDAA Games affiliate membership.
Compensation Plan
IDAA Games’ compensation plan can be split up into IDAA Games itself and GrowthPool.
IDAA Games
Joining IDAA Games as affiliates means investing in Alpha GamesCoin (AGC) with various packages:
- Start: €199 EUR for 8 AGC
- Basic: €499 EUR for 22 AGC
- Bronze: €999 EUR for 46 AGC and an NFT
- Silver: €1990 EUR for 99 AGC and an NFT
- Gold: €2990 EUR for 159 AGC and an NFT
- Platinum: €4990 for 275 AGC and an NFT
- Diamond: €9990 for 565 AGC and an NFT
- Professional: €19,990 for 1155 AGC and an NFT
- Senator: €50,000 for 2950 AGC and an NFT
- Founder: €100,000 for 6100 AGC and an NFT
Investing in AGC is based on the expectation that its value will increase, supposedly linked to the development of blockchain games that are not currently available.
IDAA Games compensates affiliates through a binary structure for AGC investments, but specific details about the compensation plan are not provided.
GrowthPool
GrowthPool issues referral commissions using a unilevel compensation structure.
In this structure, an affiliate is positioned at the team’s apex, and each personally recruited affiliate falls directly beneath them on level 1.
When level 1 affiliates bring in new members, they join level 2 of the original affiliate’s unilevel team. This pattern continues: if level 2 affiliates recruit, they go to level 3, and so forth, theoretically extending to an infinite number of levels.
GrowthPool sets a limit of five levels for payable unilevel teams. Referral commissions are calculated as a percentage of USDT invested across these five levels:
- Level 1 (affiliates recruited personally) – 10%
- Level 2 – 4%
- Level 3 – 3%
- Level 4 – 2%
- Level 5 – 1%
Joining IDAA Games
IDAA Games affiliate membership is free. Full participation in the attached income opportunity requires:
- a minimum €199 EUR investment into IDAA Games and/or
- an undisclosed investment of tether (USDT) into GrowthPool
Conclusion
IDAA Games presents itself as a questionable MLM crypto investment opportunity linked to blockchain gaming. GamesCoin, its in-game currency designed for the global gaming market, holds some potential for the future.
Despite being developed for the global gaming market, blockchain gaming, except for instances like Axie Infinity, has failed to gain traction and is essentially stagnant.
The appeal of blockchain gaming appears limited, with only crypto enthusiasts attempting to exploit gamers through various schemes, while actual gamers steer clear.
IDAA Games has introduced its Alpha GamesCoin token as part of a classic pump and dump scheme. Notably, individuals like Alex Suarez and early investors, including Toni Federspiel, possess a substantial amount of AGC that they aim to liquidate. To achieve this, they rely on bringing in new participants to exploit.
Essentially, IDAA Games operates under the guise of a gaming-related venture, although the gaming aspect is practically nonexistent. Notably, IDAA Games has been attempting to launch this scheme for the past two years.
On a separate note, GrowthPool operates as a straightforward Ponzi scheme. Investors contribute tether, and their funds are siphoned off by earlier investors. The hope is that later investors will fall victim to the scheme, completing the cycle. Additionally, there’s a pyramid scheme element, constituting the MLM aspect of GrowthPool.
Whether it’s IDAA Games or GrowthPool, both are Ponzi schemes where the majority of investors are destined to experience financial losses.
