Kok Play Review: Legit or Ponzi Scam?

Cryptocurrency is an exciting and relatively new avenue for investment with the potential to not only change the way we do commerce, but also help us manage our wealth in the future.

KOK dabbles in cryptocurrency and other digital services. Many have thought KOK play to be a scam. In this KOK play review, we will look into what exactly the company is about and whether or not it is worth your time and money.

Before I start…

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Kok Play Review: Legit or Ponzi Scam? 10

KOK Play Review

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What is KOK play?

“KOK” stands for Keystone of Opportunity & Knowledge. It is a digital content platform that allows people to access their digital content. It also has physical products and KOK Token as an investment opportunity and transaction for those interested in cryptocurrency trading. It is the latest blockchain platform we are looking into. Others we’ve seen include Digibyte, Lisk, and Keep Network.

Kok Play Review: Legit or Ponzi Scam? 11

The company focuses on digital content like live streaming, games, and webtoon, entertainment content with categories music, K-drama and movies. Their site also has the online-offline shopping option.

KOK Play claims to be a fully decentralized digital content platform. They work with the motto: ‘Fair, Share and Enable.’

KoK Token

The KOK token is listed on Coinmarketcap as shown on the chart. It ranks at 234th position in the global market. It is developed on ERC-20.

An ERC20 token is a standard governing the creation and issuance of smart contracts on the Ethereum blockchain. The ERC20 standard was implemented in 2015. Smart contracts are typically used to create smart property or tokenized assets that people can buy and sell. ERC stands for “Ethereum request for comment.”

The official website is available in 4 languages. That is; English, Korean, Japanese and Chinese.

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Who is behind KOK play?

There is no provided information about who founded the KOK play project on its website.

However, further research on their marketing material reveals that their current CEO is Mr Jiwon Kang. Apparently he has been the CEO since January 2021 which coincides with the update of the website in 2001.

Jiwon Kang

Their original website domain kok-play.io was first registered in August 2019. The parent company, Medium’s domain themedium.io was registered on 15 Oct 2018.

Kang was the CEO and founder of two other systems, namely SuperAcid and WeredSoft.

SuperAcid is a company that failed miserably in the crypto market back in 2018. They used the Davinci Coin which was dumped on public exchanges in late 2019. Besides a brief pump and dump, nothing much happened with it.

WeredSoft is also another failed company that flat lined in traffic.

Jiwong Kang holds a Master’s degree at Hanyang University in South Korea.

Digging deeper, we discover that second in command of the KOK Community is another gentleman named Hwang Dong-Seob who is the director of KOK Play.

Hwang Dong

Hwang Dong is an Entertainment Producer in South Korea and China. He is the CEO of The Grove Entertainment and the director of Korea Entertainment Producer’s Association.

Dong has a master’s degree at Yonsei University and a doctorate degree at Hanyang University.

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KOK Play’s Products and services

KOK play does not offer any retail products or services. Affiliates can only market the KOK affiliate membership to others.

There are three available investment plans:

  • buy $100 – $1499, receive returns of 3% a month
  • buy $1500 – $9999, receive returns of 5% a month
  • buy $10,000 or more, receive returns of 7% a month

Once 200% ROI is reached, affiliates have to reinvest to keep earning.

How KOK works

KOK has a mobile application known as the KOK play app. The android and iOS version are both available on the Google Playstore and the Apple store respectively. Using this app, you can easily access the KOK play platform.

The KOK play app creates an environment in which everything is in one program and the app itself is used by the end-user to access the decentralized web.

Kok Play

The app has its own mining features and in-game currency, which is the KOK token. This app includes online games, online shopping malls, television broadcasting etc.

KOK Play states that it generates external revenue via its app. It earns the revenue through game sales, shopping portal fees and general KOK token transaction fees.

The KOK token operates on the Base DApp blockchain and by some accounts, it is an NFT (Non- Fungible Tokens). NFTs are used to sell or auction digital products and artworks.

KOK token is trading at a price of $0.84 and is down 12.3% in the 24-hour interval. It reached an all-time of $6.83 in February 2022 and is currently down 87.5%.

KOK token is listed on Coinmarketcap.com and ranks at 234th position in the global market.

According to the KOK play whitepaper, it may take about four years before all circulation of KOK token has been released from the company’s holding supply. Once the supply has been released, mining rewards are set to stop.

However, it is likely that the KOK Foundation will amend the whitepaper to follow a model that is similar to Cardano’s approach. This means that once KOK play’s full supply of tokens is in circulation, mining profit will continue but the returns will be lowered.

The plan is to integrate additional features. This includes search engines like Yandex, Google, and Youtube, social media, maps, and messengers, just to mention a few. The company also claim to use advanced blockchain technology. Therefore, the KOK chain is looking to compete with the Apple Store and the Google play store.

They have also partnered with NexFin Exchange Company and will be releasing a KOK Debit card

Furthermore, KOK play is a crypto MLM which means that they pay you when you recruit new people. However, they will pay you in KOK tokens which you can only withdraw through their app exchange.

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How to join KOK play

To join this digital content platform, all you have to do is install the Kok Play android or iOS app.

Once you do that, you can begin registration by entering the required details and setting a password. At this step, you can add the invitation code of the existing users to receive benefits.

You can now make a deposit of a minimum of $100 to start the mining. Money can be deposited with ETH, BTC or USDT in the wallet.

From there, you can deposit the money, start mining and invite more people to earn extra.

KOK Play Affiliate Ranks

KOK Play’s compensation plan offers nine affiliate ranks that have different qualification criteria.

They include:

  • Affiliate – sign up and invest in KOK tokens
  • 1 Star – recruit five affiliates
  • 2 Star – personally recruit five 1 Stars
  • 3 Star – personally recruit ten affiliates of which three must be 2 Stars and generate $30,000 in total downline investment volume
  • 4 Star – personally recruit three 3 Stars
  • 5 Star – personally recruit three 4 Stars
  • 6 Star – personally recruit three 5 Stars
  • 7 Star – personally recruit three 6 Stars
  • 8 Star – personally recruit three 7 Stars

Don’t forget that recruited affiliates should have an active investment earning a daily ROI to count towards rank qualification.

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KOK Play’s Compensation Plan

KOK Play affiliates invest $100 or more in KOK tokens.

Is it a scam?

Once invested in, KOK tokens are parked with KOK Play on the promise of a monthly return, depending on the investment package you bought in.

Returns are paid till 200%, after which a new investment is required to continue earning.

KOK Play also has an MLM structure which means it pays on recruitment of affiliate investors and all commissions are paid in KOK tokens. KOK tokens can be withdrawn through the company’s app exchange.

The KOK play affiliates are liable for the following commissions:

Referral Commissions

KOK Play pays referral commissions using a unilevel compensation structure that places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them:

Unilevel compensation structure

When a level 1 affiliate recruits new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

Once a level 2 affiliate recruits new affiliates, they are placed on level 3 and so on and so forth down an infinite number of levels.

Referral commissions are paid as a percentage of KOK tokens returns paid daily. These commissions are usually calculated every month across the unilevel team.

KOK Play does not cap the level at which referral commissions are paid:

  • recruit one affiliate and earn a 100% referral commission rate on level 1 (personally recruited affiliates)
  • recruit two affiliates and earn 100% on level 1 and 20% on level 2
  • recruit three affiliates and earn 100% on level 1, 20% on level 2 and 10% on level 3
  • recruit four affiliates and earn 100% on level 1, 20% on level 2 and 10% on levels 3 and 4
  • recruit five affiliates and earn 100% on level 1, 20% on level 2 and 10% on levels 3 to 5
  • recruit six affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5 and 5% on level 6
  • recruit seven 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 eight 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 nine 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 ten affiliates and earn 100% on level 1, 20% on level 2, 10% on levels 3 to 5 and 5% on levels 6 to 10

Now, remember that recruited affiliates must have an active investment that earns a daily ROI to count towards the referral commission qualification criteria.

Generation Profits

Generation Profits are commissions paid on unilevel team levels from level eleven and further.

Generation Profits are tied to the affiliate rank, starting from the 3 Star:

  • 3 Stars earn a 3% Generation Profits rate
  • 4 Stars earn a 5% Generation Profits rate
  • 5 Stars and higher earn a 10% Generation Profits rate

Affiliates are also eligible for the following bonus:

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Affiliate ROI Commission

Bonus commission rates are paid on monthly returns to personally recruited affiliates. They are tied to ranks 1 Star through 8 Star.

The rates are as follows:

  • 1 Stars earn a 1% bonus
  • 2 Stars earn a 3% bonus
  • 3 and 4 Stars earn a 3% bonus
  • 5 Stars earn a 4% bonus
  • 6 Stars earn a 5% bonus
  • 7 Stars earn a 6% bonus
  • 8 Stars earn a 10% bonus

KOK Reviews

KOK play has received a 3.9 star rating out of 5 stars on Trustpilot. However, most of the positive reviews seem to be from the affiliates who are trying to market the platform.

Here are some of the reviews on KOK play:

It’s a shity pyramid scheme scam they take your money upfront than they give it back slowly making you think you making money their plan is to keep your money stuck in there for as long as they can until the pyramid collapses… don’t believe shit you see in these zoom lives they are selling a scam…. no one invested 68billion dollars in this crap 💩 other wise I would have heard it on the news I am from South Korea but this scam looks like it’s originated from Malaysia or Philippines…. everything you see about ceo and all those great companies their image is being used without their knowledge

-Anime

Straight up scam. DO NOT FALL FOR THIS!

-Morgan Grossman

I want to introduce KOK Play Foundation which is a platform business company with all-in-one stop which is called Hybrid platform business. This company is one of the leading digital platform companies in the world now. After I met this business, my life has changed and I am so thankful for everything what KOK Play Foundation does it for not just me but for my family and all the memers in the world.

Thank you for your life time oppourtunity!

-Deborah Heeyun Kwack

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Pros of KOK play

  • It is a digital content platform that claims to offer a variety of services and investment opportunities.
  • The founders seem to be well educated.

Cons of KOK play

  • There is no information about the founders on the website which makes it suspicious.
  • They claim to rival Google Play and Apple store yet they have not built their own coin yet
  • The main source of revenue is through recruitment of affiliate member which makes it very similar to a pyramid scheme.
  • Many of the positive reviews are from KOK affiliate members thus cannot really be trusted.
  • The founders are affiliated with failed crypto scams.
  • KOK play offers no evidence of being registered with any financial regulator.
  • Affiliates get paid in KOK tokens only which may lead to loss of money during exchange.

Conclusion

KOK Play is just another one of those crypto scams.

They do not offer much information about its origin and the founders on their website and this alone is quite alarming.

Its parent company, the medium foundation, had a token named MDM which was not popular and had no available market cap on coinmarketcap.com. They claimed to develop efficient hardware for crypto transactions. Their whitepaper was published in 2019 and after 2 years, nothing happened as the claim was made.

KOK play claims to offer a passive investment opportunity, making it easy for consumers to identify KOK Play’s MLM opportunity as some sort of financial security. This s giving clients false hopes as KOK is not registered with any financial regulators in all of the countries that it is available.

This means that the services provided are illegal and all who are involved in marketing it are going against the law. KOK play also hasn’t shown on its website that it has acquired a Chinese MLM license and could be operating illegally there.

Though they have been acknowledged by the South Korean government, this still offers no proof of their financial regulation.

Furthermore, their main source of income comes from recruiting affiliate investors which means that once there are no more new investments, the company will inevitably collapse.

KOK Play urges investors to join on the promise of a 200% ROI, paid in tokens they create on demand at little to no cost. These tokens do not guarantee you a profit on your investment once withdrawn.

In April 2022, KOK play was flagged as a pyramid scheme by Russian authorities and their website domain has been abandoned since.

In conclusion, KOK play is definitely not a legit investment opportunity and should be avoided at all costs.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

Kok Play Review: Legit or Ponzi Scam? 10

David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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