Tranont — A Supplement MLM — Will Soon Be In The Crypto Space
Talk about a pivot.
Tranont is a multi-level marketing company, primarily known for its supplements like vitamins, collagen, and drink mixes, is headed into the crypto space. Confused? So am I.
I sat in on a Tranont video call, where Craig Kotter (Tranont’s VP of sales) and Lorne Berry (Tranont CEO and Founder) revealed the new addition that the company is making.
But before diving into the new addition, let’s first look at where the company came from.
On the video call, Craig began a slideshow that included a very brief timeline of where the company was and where it is now:
- 2013 — Founded with focus on wealth education for financial management
- 2017 — Added wellness products targeting gut health, focus, and mood
- 2018 — Introduced best in class whole-flower hemp CBD products
- 2020 — Announced Tranont’s official Scientific Advisory Board
- Ongoing commitment to charitable efforts around the world, through Tranont Community initiative
(As I researched some of these points, I realized that I’ll have to do separate articles on them. There was far too much information to include here, but so much that needs to be uncovered still).
And then right before Craig turned the call over to Lorne, he said in regards to this new crypto announcement, “that excitement should absolutely be felt and delivered.”
With the arrival of CEO and founder, Lorne, also comes the arrival of the Tranont Cryptocurrency rollout plan. He explains that this is just a general overview of the plan and more details are to come.
Now allow me to take a quick detour…
Back in April 2020, the Federal Trade Commission sent an official letter to Tranont (Lorne Berry) because Tranont’s representatives had been making false health claims and income claims, both of which are against the FTC’s policies. Leaving the health claims aside for this article since we’re concentrating on the new crypto plan, here’s an excerpt from the official FTC letter on false income claims.
Some examples of earnings claims made by your business opportunity participants or representatives include:
“Maybe some of us have lost our jobs or are trying to figure out how we’re paying for childcare now. . . . What I’m going to share with you is something that . . . even with the crazy economy, you can build something massive.” [38 minutes later] “Whether you want to make an extra $600 a month, an extra $10,000 a month, or you want to make over $1 million a year, you can do that…” [5 minutes later] “The economy is a little bit unstable right now. . . . This is a way for you to have a plan B — for you to take control of whatever it is that you’re looking for. Maybe it’s to retire. Maybe it’s to get out of debt. Maybe it’s to pay for college
. . . . You have an opportunity to take advantage of something massive and help people give gifts to everybody that you know: a health gift and financial freedom.”
For the exact FTC code violation describing this:
Additionally, representations about a business opportunity, including earnings claims, violate Section 5 of the FTC Act, 15 U.S.C. § 41 et seq., if they are false, misleading, or unsubstantiated and material to consumers. Express and implied earnings claims must be truthful and non-misleading to avoid being deceptive, which means that claims about the potential to achieve a wealthy lifestyle, career-level income, or significant income are false or misleading if business opportunity participants generally do not achieve such results. Even truthful testimonials from participants who do earn significant income or more will likely be misleading unless the advertising also makes clear the amount earned or lost by most participants. Your business opportunity participants and representatives must immediately cease making all express and implied earnings claims that would be false or misleading to current or prospective participants.
Why is this important to this crypto call? Because Lorne presented a few disclaimer slides before getting into anything. In my opinion, I can’t help but think that the amount of disclaimers here directly relate to the previous warning letter from the FTC.
Lorne made sure to highlight the fact that cryptocurrency and blockchain is DECENTRALIZED multiple times. And that is no different with the new Tranont Coin and Tranont Coin Blockchain.
“Tranont Coin Blockchain is a decentralized peer-to-peer community and social platform leveraging the direct sales industry distributed network.”
We’re then given three “proof of action” ways that this will work within the community:
- Tied to tangible activities
- Tied to tangible goods
- Provide daily rewards
Let’s break down the tangible activities:
- Associate sponsorship
- Successful subscription
- Rank advancement
- Convention attendance
- Team volume
This is a fancy way of saying recruiting someone new into your downline. Tranont calls their distributors, associates.
What I gather on this topic is that it means you remain “active” as an associate by paying a monthly fee to sell the Tranont products.
Tranont offers a bunch of trips and conventions throughout the year, each with their own requirements for attendance. But here’s what they currently have for 2022.
(Not for nothing, but I don’t see a single way that you can be rewarded with this new Tranont Coin plan that involves selling products)
Digital Compensation Plan
“Now this is a new concept. It’s completely going to disrupt and change the industry” — Lorne Berry
Phase 1: Liquidity
Tranont has partnered with another company, name not given, that’s going to handle all the crypto harvesting. Then there will be harvester sales and coin creation.
Phase 2: Proof of Action
This is where the actions described above come into the rollout.
Phase 3: Integration
Apparently, people would be able to pay and be paid with Tranont Coin for products and services.
Phase 4: Globalization
Honestly, your guess is as good as mine on this phase. Very unclear on whether this globalization means bringing just the Tranont Coin availability worldwide and/or if it means expanding Tranont products and services worldwide. Either way, they’re already an international company since they currently operate in the United States, Canada, India, and Puerto Rico.
Phase 5: Decentralization
The slide said: “activities, actions and rewards driven by community”
Lorne said: “Just know it’s coming and be prepared for it.”
So… maybe they’re still working out what that actually means because that’s pretty much giving no actual explanation, in my opinion.
Actual dates weren’t given. They did say that the first phase, liquidity, should launch “at the first of summer.” And by fall, they’re looking to have phase two begin.
Then the big call to action began. The big push to get new recruits — I mean, associates — into the business. And to help with that, a new financial incentive was unveiled.
Achieve Sapphire by August 31st — earn $1,000
Achieve Emerald by August 31st — earn $2,000
Achieve Diamond by August 31st — earn $3,000
This incentive is open to all current and newly enrolled associates between April 1st, 2022 and August 31st, 2022. And all this money is in addition to the regular bonuses the company offers in their compensation plan. Oh, but it’s only paid out via Tranont Coin.
While there’s obviously a lot more details to come on this new crypto venture, what was said in this call seemed to be more about recruiting people to get rewarded, than it was to sell products to get rewarded. Don’t forget: the difference between MLM and a pyramid scheme is that in MLM, the distributor makes the majority of their money by selling product. If that’s not the way they make the majority of their money, it’s then considered a pyramid scheme. Based on their own compensation plan, the only way to move up in ranks is to recruit people (see chart above). The more ranks you move up, the more you’re financially rewarded, and with this addition of Tranont Coin, you’ll be financially rewarded in cash payouts AND crypto payouts. I sense a wave of Tranont associate recruiting coming up over the next few months.