Loom is the trending networking scheme right now which is currently paying; according to its members.
It is a circle of teamwork and trust whereby team members work hand in hand to get referrals so as for every member to get paid times 8 of their initial invested cash within a short period of time depending on how active the loom team is.
The Loom Pyramid Scheme is not new to the world. Last month, Daily Mail UK reported that the scheme has resurfaced online all over the world, with different names such as ‘loom circle’, ‘fractal mandala’ and ‘blessing loom’. In Nigeria, its central name is Loom Money Nigeria with individuals creating their own WhatsApp groups such as Preye Loom, Catherine Loom among others.
For example, a member who joined with #1000 will get #8,000 in return.
How Loom Works
Let’s say you are invited/ joined a Loom group which is mostly on Whatsapp, and you see an image like this
You see a variety of names in the image above, each one of these people has paid for their entry with an example sum of #1000 which will generate #8,000.
Let’s say your name is ‘JOHN’ and you decided to join the loom networking, now JOHN you entered on the last circle and make your payment to the person in the center which is ‘EMEKA’.
EMEKA collects entry fee from every other person in the last circle which will give a total of eight.
When the last circle is filled up, EMEKA has made x8 of his entry fee and will decide whether to start all over again from the last circle or quit and enjoy his profit.
What Happened After EMEKA Left The Center?
A new Loom will be created; Gab will be at the center of the newly created Loom while ND moves to the center of the current group.
Other members will be split equally to Gab’s group and ND’s group.
Peace and Prince will move to the newly created Gab Loom group and stay on the circle next to the center, while Nelly and Chidi stay with ND but will be moved further to the circle next to the center.
The eight members on the last circle will split and four goes to the newly created John Loom group and move further to the third blue circle while the remaining four stays with ND and also move further to the third blue circle.
The members keep on splitting until every member receives the benefit.
The fastness of each group depends on how active the members are.
Does It Pay?
Currently, it is paying and no loss has been recorded since the platform started last month been April.
Will The Scheme Crash?
Definitely yes since nothing created by a human can ever last forever, though the scheme is open as nobody owns it and the activities are not carried out on a specific website, it is carried out mainly on Whatsapp group of trusted members and the longevity and crashing relies on an individual group.
How To Join
Click here to join the Whatsapp group of fast-moving Loom team.