Kok Play is a digital content platform. It allows people to access their digital content. It also has physical products and KOK Token as an investment opportunity and transaction.
The online site of Kok Play states that the company’s activities include digital content having games, live streaming and webtoon, entertainment content with categories music, K-drama, movies and also brings the online-offline shopping option.
The official website is available in 4 languages including English, Korean, Japanese and Chinese.
This post will help you to understand, whether Kok Play is a genuine investment opportunity or an MLM Cryptocurrency scam.
|Opportunity Type||Crypto MLM|
|Products||Crypto Token & Digital Content Platform|
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What is Kok Play?
In the Kok Play White Paper, Panjong Kim (left) is claimed to be the CEO and Andrew Park (right) to be the CSO of Medium Foundation which operates Kok Play.
Young Choe is an important personality of Kok Play. He is the Cheif Architect of Medium Foundation and CTO of Kok Play. Several videos and interviews of him are available on YouTube promoting Kok Play.
The domain www.kok-play.io was registered on 20 August 2019.
Kok Play claims to be a fully decentralized platform. It works with the tagline “Fair, Share and Enable.”
The Kok token is operated on the Base DApp blockchain. Some claims show it is NFT (Non- Fungible Tokens). NFT are used to sell or auction digital products and artworks.
Kok token is listed on Coinmarketcap.com and ranks at 234th position in the global market, it is developed on ERC-20.
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Joining Kok Play
It is quite easy to join and start investing with Kok Play. Below are the steps to do so.
- Install the Kok Play android or iOS app.
- Register by entering the required details and setting a password. At this step, one can add the invitation code of the existing users to receive benefits.
- Make a deposit of a minimum $100 to start the mining. Money can be deposited with ETH, BTC or USDT in the wallet.
- Deposit the money and start mining.
- Invite more people to earn extra.
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Kok Play Ranks
Similar to MLM, the Kok Play works with ranks that here are termed as stars. To reach every star, one needs to fulfil the given requirements.
|1 Star (Bronze)||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 referral volume|
|4 Stars (Silver)||3 stars each on 3 lines|
|5 Stars||4 stars each on 3 lines|
|6 Stars (Gold)||5 stars each on 3 lines|
|7 Stars||6 stars each on 3 lines|
|8 Stars (Partner)||7 stars each on 4 lines|
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Kok Play Compensation Plan
There are mainly three types of rewards paid to the investors from the Kok Play Compensation Plan.
- Level reward
- Mining reward
- Sponsorship reward
The rewards are paid to the investors capped at 200%. There are mainly 25 generations and 8 ranks.
Level rewards are paid to the investors investing $300 or more.
|1 Star (Bronze)||1% increased sponsorship rewards for 2-10 generations.|
|2 Stars||Additional 3% sponsorship rewards|
|3 Stars||Additional 3% sponsorship rewards and 3% more after 11 units|
|4 Stars (Silver)||Additional 3% sponsorship rewards and 5% more after 11 generations|
|5 Stars||Additional 4% sponsorship rewards and 10% rewards after 11 generations|
|6 Stars (Gold)||Additional 5% sponsorship rewards and 10% rewards after 11 units|
|7 Stars||Additional 6% sponsorship rewards and 10% compensation after 11 units|
|8 Stars (Partner)||Additional 10% sponsorship rewards and 10% compensation after 11 units|
The mining reward is earned after staking a certain amount of cryptocurrency. The Kok mining rewards are only at Kok Play and the cryptocurrency equal to the % of USD value of cryptocurrency deposit will be paid as a reward.
Rewards will be paid monthly.
|Staked amount||Reward Percentage|
|$100 or more||3%|
|$1,500 or more||5%|
|$10,000 or more||5%|
The sponsorship rewards are earned by inviting people and making them join as investors. The more people one brings to the company, the more he earns.
|1st (directly recommended)||100% sponsorship reward|
|2nd (members recommended by 1st member)||20% sponsorship reward|
|3-5||10% sponsorship reward|
|6-10||5% sponsorship reward|
|11-25||Depend on the level of the person.|
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Kok Play is Scam or Legit?
Now the question arises whether Kok Play is a Crypto Scam or Not?
So I will go through different parameters and share my personal opinion on it.
Kok Play and its executives are located in South Korea. But the LinkedIn profile of Kok Play Foundation shows their location in Dubai.
The parent company, Medium’s domain themedium.io was registered on 15, Oct 2018.
It is not a too old organization.
Before Kok, Medium also has a token named MDM which is not popular and the market cap is not available on coinmarketcap.com.
Moreover Medium claims to develop efficient hardware for crypto transactions.
The whitepaper was published in 2019 and after 2 years, nothing happened as the claim was made.
I was unable to locate provided the physical address of the Medium office in google maps. Few images of the medium office building are circulated over social media which seems mockup.
I found 2 news reports covering medium [Link 1][Link 2]. Both used the exact same images and similar content says till the second quarter of 2021 Medium made 6 Billion Won revenue and will reach 20 Billion by end of 2021 with entering the USA market.
But till now, they have not launched any extraordinary products or services then what is the exact source of such a large revenue?
Except for Young Choe (YouTube video guy), no active presence of other executives is found on different social media platforms.
Kok Play Products
Moreover, Kok Play also has one more website Kok-chain.io other than kok-play.io. Both sites are filled with bluff content.
They are claiming to launch digital content platforms using cryptocurrency and AI technology for the betterment of advertisers and creators.
Till now no significant progress can be seen in claims made by Kok Play.
On Kok Play App, I found no entraining content concerning my taste and ads were also not personalized, then how advertisers are expecting Kok Play to give business on spent.
A comment of a Reddit user conveys lots of things.
Kok Play claims don’t make sense, as large platforms are already available and I can’t find any excellent reason why people will choose this platform.
KOK Token is based on ERC-20, they are claiming to launch their own coin and swap the current token with a new coin.
It is bizarre, they are promising to launch lots of services (overtaking google) but have not built their own coin yet, and operating on the crypto token which takes just a few hours to create.
Additionally, Kok Play is selling some equipment and wellness products that are only purchasable in Korea.
Kok Play’s compensation plan offers rewards for investing and recruiting people.
They are providing a fixed monthly return on investing a certain amount for staking. Higher investments are encouraged for higher ROI. It is a major red flag.
Secondly, the recruitment-based commission is given to attract more investors. 100% sponsorship rewards are given on direct recruitment in Kok Tokens and it is compulsory to invest at least $100.
I can see another trait of a money circulation scheme.
There are various people promoting Kok Play on different social media platforms.
I found a suspicious medium post that first showed examples of crypto & MLM scams and later tried to prove Kok Play as not a Ponzi Scheme.
The reason given by them is, Kok Play is approved by the Chinese government (no evidence given) and China only allows 1-level MLM Companies.
Kok play is promising fixed commission from multiple levels of downline. Then what makes sense of saying, Kok Play is not an MLM?
The same Medium post says, Kok Play is a sub-entity of SuperAcid, And Nexon is the parent company of SuperAcid.
Nexon is a popular video game company from South Korea, but I didn’t find any connection of it with Kok Play and SuperAcid.
Unlike others, Nexon is a registered enterprise and has a real physical address. It is BS to connect these shell companies with Nexon.
The same post says, Kclavis an asset management firm invested $63 billion in SuperAcid to complete the Kok Play project.
I was unable to verify it. For such a large deal, there is no news published and no such deal is reported on the official site of Kclavis.
That medium post did not mention anything about Medium Foundation which claimed to be the operator of Kok Play in Whitepaper.
Neither Kok Play nor Medium is registered as an enterprise in South Korea.
All these facts together put Kok Player in doubt.
The Bottom Line
Now few things I can conclude about Kok Play.
Empty vessels sound louder.
Till now there is nothing significant or innovative thing done by Kok Play and they are claiming to lead the digital world for the past 2-3 years.
Created some attractive websites filled with bluff content, to make people believe in them. If their claims are genuine and Medium really wants to revolutionize the industry, then wait for 1 more year then think of investment. As their future is blurred for now.
If you find they are progressing and reliable to trust then you take a chance in it.
Rob Peter to pay Paul.
Their compensation plan is denoting it as a money circulation scheme.
They are giving extraordinary returns. High ROI on greater investment and recruit more to earn more.
There is no worthy retailable product available and people are paying for shit tokens that don’t have actual value.
Old investors are getting paid by the money of the new investors, Kok Play is a Ponzi scheme scam.
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