Today we will talk about Blum, we will discuss this issue a little.
So Bloom is a game that we thought was pretty promising and recommended. I told you to log in about every 6-8 hours and collect Bloom points. I personally haven't played the game itself.
And so, the first season is coming to an end. As usual, at the end of the season, there was supposed to be a token distribution. A token generation event was expected, during which tokens were supposed to enter circulation. People expected to get their Bloom Points and, of course, some kind of monetary reward, since Bloom Points were given out not only for participating in the game.
Here, there were also additional tasks, for the completion of which Bloom points were awarded. There were many of these tasks: for example, you could subscribe to various projects and participate in other activities.
In general, the game published tasks for the completion of which Bloom's developers received considerable money. Therefore, they were interested in projects being attracted to the game and placed here.
It would be reasonable to offer players the opportunity to receive tokens as a reward for completing the game. For example, snowflakes with a logo of a project could appear in the game. By clicking on the logo, the player would be able to receive a portion of the cryptocurrency. In this way, players could gradually accumulate Bloom and earn money at the same time.
It would make perfect sense. For example, on the MEX exchange, if you have 500 MX tokens, you can participate in daily airdrops of various tokens. That is, when some meme token appears and is listed on the MEX exchange, you, having 500 MX tokens, can simply click a button and get an airdrop of these tokens for free.
#doge⚡ Listing on MEX costs money. Users receive a portion of these funds, possibly in USDT or tokens, depending on the platform's terms. You can then convert them into MX or USDT tokens and use them as you wish.
Blum could implement the same system as Drop Game. In that game, tokens are randomly scattered around the screen, and I think it would be quite difficult to automate the process of collecting tokens by bots. In theory, players could get a small cash for their activity, and it would be fair.
What's the result? They promised a hybrid exchange, but instead launched a meme pad and a trading bot that supposedly snipes memes. It turns out that users were simply kept waiting, allowing them to accumulate Bloom points.
In addition, it turned out that you can't get anything worthwhile for these Bloom Points. The drop rate for Bloom Points will be lower than for trading meme points.
To earn meme points, you need to go to the meme pad and either launch your token (i.e. deceive your audience) or buy and sell tokens listed on their platform.
For example, to buy a token, you need to pay a commission of 0.56 TON, and to sell it - 0.064 TON. In total, 0.12 TON for buying and selling.
As of today, 0.12 TON is about 68 cents. At the ruble exchange rate, this is 68 rubles minimum, just to buy and sell.
But all these memes in 99.9% of cases turn out to be a scam, because anyone can launch them.
It's just a casino where you can't win - you'll only lose money.
As a result, instead of the positive experience that would logically be expected from participating in such projects, developers deprive users of the chance for success.
Cryptocurrency is not that developed yet, and projects like Bloom could attract a new audience, educate them, create materials and gradually introduce people to the world of cryptocurrency. But instead, developers, including the main representative of the project Smerkis, create casinos where it is impossible to earn money.
Users lose money, firstly, on the fees for buying and selling tokens, and secondly, because of slippage. Slippage means that the price can change significantly at the moment of the transaction. For example, if there is little liquidity and you try to buy a token for $1000, the price will skyrocket, and you buy the token too expensively. Those who bought earlier can immediately sell the tokens, taking the liquidity for themselves.
As a result, you are left with expensive tokens, which immediately fall in price.
The charts of such tokens show obvious drains: the token rolls to the bottom, and it is impossible to earn on it. Instead, you are credited with meme points, which, according to the developers, will have a higher conversion rate than Bloom points.
It was initially assumed that participation in the project would bring positive experience and a drop would be given for Bloom points. In the end, the first season was not closed, the drop was not distributed, and users were left without profit.
The main representative of the project Smerkis, in one of the interviews (I think, with "Satoshi's Tears"), talked about these plans, but their implementation completely disappointed users. Smerkis said that the Hamster tapalka shaved everyone and distributed very little and he condemns them, but in the end he himself did not distribute anything at all!
Instead, he launched a project that makes money from you on commissions for every transaction or token launch.
At the same time, many bloggers continue to defend it. Most likely, it is supported by those who hope to benefit from the second season, where influencers receive 20% of the commission from their referrals' trades and 2.5% of the commission from second-level referrals.
Also, the conditions on the meme pad look predatory. You can see an example in the screenshot above.
However, these points have a higher conversion rate than Bloom Points, which were originally intended to be valuable.
In essence, Bloom Points have become useless, and now users are forced to invest money in dubious projects. All this can be called a 100% scam!
You are promised that you will get something later, but have not yet delivered what you were supposed to. You are encouraged to continue investing money, promising that someday, perhaps, you will get something.
It seems to me that if something is eventually credited, then most likely only the bloggers who actively advertised this project will benefit. Especially those who continue to promote it even after the announcement of the second season. I suggest boycotting such bloggers who, realizing that they involved you in a scam, continue to promote the Bloom project.
They claim that users will be able to do something with these tokens, and only at the end will there be a listing. But even now it is unclear what will happen with Bloom Points and Meme Points. They could be separated and issued separately: first pay users for Bloom Points, and then accumulate Meme Points for those who want them.
However, they did not do this because they realized that if they started issuing drops, the situation with Khomyak would repeat itself. And if Khomyak at least decided to end the scam with minimal payments, then Bloom simply decided not to issue anything at all.
Summary
So instead of closing the season and giving away the drop, they launch a casino. They attracted a lot of young audience, schoolchildren and people who don't understand crypto, and deliberately lead them to a scam. Meme pad has become a platform where each token is worth absolutely nothing and has no value. $BTC
And they, understanding this, lead people there, while not giving people a reward for what they did all this time. All 2024, they (Blum) received huge money for advertising contracts, placing other projects here, to which they also led people. Although they could have simply allocated part of the rewards they received from advertising these projects, and launched them into this drop-game.
People could earn real rewards, like Tether or another cryptocurrency. Even if the Blum Point token didn't generate any significant profit at the end of the first season, people wouldn't be so unhappy because the process of participating in the drop game would bring real cryptocurrency that could be sold or used.
Bloom's developers were clearly getting paid in dollars or USDT for advertising, not candy wrappers. They could have allocated some of those funds to a drop game so that users could connect their wallets and get paid in Tether or other crypto.
Even if Blum Point didn't generate significant revenue, the process of participating in the drop game would give schoolchildren and other users the opportunity to earn money. And in the end, the meme drop became something completely different.
Last year I already said that such projects do not lead to anything good. And in the end, this is what happened: they simply take our time and attention, but do not consider it necessary to share the profits they receive from this attention.
That's all for today, dear friends. Take care of your money.$TON
