Logan Paul Announces $2.3 Million Buy-Back Program for Disappointed CryptoZoo NFT Investors
TLDR:
- YouTuber Logan Paul announces a buy-back initiative worth $2.3 million to compensate disappointed investors of his unreleased CryptoZoo NFT game.
- The program involves repurchasing Base Eggs and Base Animals at their original purchase price for individuals who intended to play CryptoZoo.
- Eligible participants can submit claims on “EGGNFTBUYBACK.COM” until February 8, with each qualifying NFT submission set to receive 0.1 ETH, valued at $224.
- Hybrid animal NFTs and CryptoZoo (ZOO) token holders are not eligible for the buy-back program.
- Logan Paul files a cross-claim lawsuit against CryptoZoo lead developers Eduardo Ibanez and Jake Greenbaum, attributing the project’s derailment to alleged fraudulent activities by these individuals.
In a recent post on X, popular YouTube and social media influencer Logan Paul revealed a $2.3 million buy-back program to compensate disillusioned investors of his once-ambitious CryptoZoo non-fungible token (NFT) game.
The buy-back initiative, personally funded by Paul, targets those who intended to play CryptoZoo and involves repurchasing Base Eggs and Base Animals at their original purchase price.
Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at https://t.co/XIQzLAGKiG. Claims can be submitted through this site… pic.twitter.com/VMPDHvdXkq
— Logan Paul (@LoganPaul) January 4, 2024
The never-released play-to-earn game allowed players to buy, sell, breed, and trade exotic animals represented as NFTs.
Paul expressed disappointment in the game’s non-delivery and invited eligible participants to submit claims on the dedicated website “EGGNFTBUYBACK.COM” until February 8.
“As far as the game itself, unfortunately it will not be released. I personally spent $400,000 to have it developed and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further.”
Claim Your Compensation by February 8 on “EGGNFTBUYBACK.COM”
Eligible participants are invited to submit claims on “EGGNFTBUYBACK.COM” until February 8, with each qualifying NFT submission set to receive 0.1 ETH, valued at $224.
Hybrid animal NFTs and CryptoZoo (ZOO) token holders are excluded from the buy-back program.
Legal Action Unveiled Against CryptoZoo Developers
As part of the announcement, Paul discloses a cross-claim lawsuit against CryptoZoo lead developers Eduardo Ibanez and Jake Greenbaum, holding them responsible for derailing the project with alleged fraudulent activities.
Logan Paul’s $1.5 Million Recovery Plan for CryptoZoo Investors
My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players.
— Logan Paul (@LoganPaul) January 13, 2023
Thank you, @coffeebreak_YT pic.twitter.com/xFX017UHoc
In January 2023, Logan Paul unveiled a $1.5 million recovery plan for investors in his troubled CryptoZoo NFT project.
Abandoning legal action against YouTuber Coffeezilla, Paul focuses on CryptoZoo concerns, burning ZOO token holdings and committing 1,000 Ether for a rewards program.
While some commend his efforts, others criticize the situation on social media.
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