Would Magma Venture Partners invest in a scam?
I think not.
They have many success stories and Getgems will be added to the list eventually.
They invested in "waze" which sold to Google for over 1 billion dollars. Magma knows what they are doing.
The price of GEMZ now is a fraction of the ICO price and has "disgruntled" a few investors who are out for revenge. Getgems has more potential now than it ever had. IMO it's a great time to get in.
Topic: GEMZ is a scam! (Read 1250 times)
Getgems is not a scam.
If anybody is interested I will go through those points and refute each one.
Getgems is an amazing messenger app that also owns PayKey....the revolutionary payment system you probably never heard of YET.
Getgems blog:
https://medium.com/@GetGems
Developers are hard at work with constant updates and improvements.
PayKey
https://www.paykey.me/#/
Magma VC has invested:
http://www.magmavc.com/portfolio/portfolio-companies.html
Click on Getgems
Lots of potential.
If anybody is interested I will go through those points and refute each one.
Getgems is an amazing messenger app that also owns PayKey....the revolutionary payment system you probably never heard of YET.
Getgems blog:
https://medium.com/@GetGems
Developers are hard at work with constant updates and improvements.
PayKey
https://www.paykey.me/#/
Magma VC has invested:
http://www.magmavc.com/portfolio/portfolio-companies.html
Click on Getgems
Lots of potential.
Is GEMZ's big? How many people do you think have invested with them? They certainly seem to be out to help themselves if what you say is true and it would be wise to steer clear of them. It is much better to invest in a company with a product already produced than have faith that someone will battle through to what they promised.
It was easier last year to blame the company’s lack of execution on inexperience or incompetence. But when you consider all the “surprise” announcements and events, I wouldn’t fault someone for concluding that we’ve participated in an outright scam.
Off the top of my head:
They sold a stake in the company to VC’s while they were simultaneously crowdfunding.
The co-founder quit immediately after the ICO.
They suddenly scrapped all prior work in favor of Telegram.
They revealed the stealth development of PayKey, and made it the company’s priority.
They secretly cashed out 50% of the ICO money.
They stated that GG’s development depends not on the remaining funds, but on PK’s future success.
Here’s the scenario I think is most likely coming:
PK won't get funded because of exactly what the panel criticized at 43North. The app hasn’t interested VC’s yet, and the market is only getting more crowded.
GG will continue to acquire users based solely on their app store rankings for the search term “Telegram”.
The app will function as a standard messenger client with a few beta (and soon, unoriginal) crypto features.
The attention economy will never be developed and the coin’s value will reflect this.
The app will obtain traditional revenue sources, like banner ads, to keep it alive.
Or it will simply be open-sourced and abandoned.
Off the top of my head:
They sold a stake in the company to VC’s while they were simultaneously crowdfunding.
The co-founder quit immediately after the ICO.
They suddenly scrapped all prior work in favor of Telegram.
They revealed the stealth development of PayKey, and made it the company’s priority.
They secretly cashed out 50% of the ICO money.
They stated that GG’s development depends not on the remaining funds, but on PK’s future success.
Here’s the scenario I think is most likely coming:
PK won't get funded because of exactly what the panel criticized at 43North. The app hasn’t interested VC’s yet, and the market is only getting more crowded.
GG will continue to acquire users based solely on their app store rankings for the search term “Telegram”.
The app will function as a standard messenger client with a few beta (and soon, unoriginal) crypto features.
The attention economy will never be developed and the coin’s value will reflect this.
The app will obtain traditional revenue sources, like banner ads, to keep it alive.
Or it will simply be open-sourced and abandoned.
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