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The VLM approach is expected to become synonymous with legitimate business practices, and it will eventually be the norm for multilevel marketing.
Multilevel Marketing, or MLM, is a very controversial business structure. It is a model that facilitates legitimate business ideas and pyramid schemes alike. Viral Looping, or VLM, is designed to address these concerns and offer a more viable alternative.
The Perception of MLM Schemes
In the public eye, multilevel marketing, or MLM companies, are something to avoid altogether. Although the business model is sound, this model’s top-down narrative makes it akin to building pyramid schemes and Ponzi Schemes. Unfortunately, many companies in the MLM industry are of that nature, eroding any confidence in multilevel marketing altogether.
On paper, there’s nothing wrong with the concept of recruiting new sales representatives. Everyone who joins the matrix has their objectives to complete and receives ample incentives to keep recruiting new sales representatives as part of their downline. It creates a cascading effect of recruitment that can make businesses widely successful.
MLM programs’ main draw is how part-timers and self-employed people can still make the most of this model. Sales representatives work as hard or as little as they want to achieve success. It is also a low-risk option, as the initial startup cost for newcomers remains relatively low.
Pyramid Schemes and Trust Issues
Over the years, MLM has become synonymous with pyramid schemes and Ponzi schemes. By promising participants millions of dollars for doing very little work, many are drawn in. All it took was a sizable initial investment, and the money would be rolling in automatically. Those who were recruited by others would often not see any return on investment and lose a lot of money in the process.
Moreover, there is a lot of criticism toward legitimate MLM businesses. Many companies seem to favor hard-sell methods, which don’t always go over well with the target audience.
Even in the cryptocurrency world, there have been several MLM scams. Companies such as OneCoin and MMM Global have embraced the multilevel marketing model as a way to scam cryptocurrency enthusiasts all over the world. Billions of dollars have been lost to these pyramid schemes.
The MLM concept faces an uphill battle where public perception is concerned. The time has come to evolve this model into something more modern and trustworthy.
From MLM to Viral Looping
In this modern era, Viral Looping is the trend capable of replacing the MLM business model. At the core, both models are identical, with the key difference of empowering the users instead of the companies operating this business model. Everyone needs to be treated fairly when promoting a business or project.
With Viral Looping or VLM, there is no one at the top of the structure to manage and oversee things. Instead, everything is managed by the Jigstack DAO, a decentralized autonomous organization run by the community. Removing central figureheads from their power positions leads to more streamlined business models and a better reward structure for everyone.
Under the Jigstack DAO banner, Viral Looping is one of the multiple revenue streams provided to participants. As our DAO is structured as a conglomerate, t can govern a collection of high-quality network solutions that generate revenue. The entire governance aspect is in the hands of Jigstack users who hold the Jstak token.
Thanks to blockchain technology’s transparent nature, the Jigstack DAO will provide a system that cannot be manipulated or tricked.
Changing the Narrative
In this internet-connected world, technology and business models need to adapt or perish. Influencers have become a catalyst for driving business growth thanks to social media.
Viral Looping will do the same for running a business by recruiting sales representatives. The VLM approach will become synonymous with legitimate business practices, and it will eventually become the norm for multilevel marketing.
Thanks to cryptocurrency technology, participants in MLM projects will feel safe and appreciated. As there is no central figurehead to pull the strings and use it for nefarious purposes, Viral Looping will bring legitimacy to any company exploring this business model and looking to expand its reach.