Hustle and bustle in the CryptoZoo – Logan Paulan American YouTuber known for his crazy videos, finds himself once again in turmoil. Most famous for his wrestling matches and his purchases of over $1 million worth of Pokémon cards, he is less famous for his NFT collections. However, the last CryptoZoosuddenly finds himself accused of being a scam.
CryptoZoo: The NFT Collection That Takes You For 3 Week Bunnies?
CryptoZoo is an NFT collection on Binance SmartChain presented by Logan Paul in August 2021, during a podcast like “a fun game that makes you money”. The concept is as follows: how “Zoo Keeper”, you must purchase NFT Eggs using the game’s native token, the ZOO. Then, once hatched, the egg becomes an animal that must be fed in order for it to become a “hybrid animal”. These hybrid NFTs can then be resold for ZOO tokens and thus line the Zookeeper’s pockets.
In principle, any game idea, even a crazy one, can get along if it is well implemented. Only that the initiative was the subject of a series of videos last December by the Youtubeur known as Coffeezilla. The latter accused Paul Logan’s project of being a scam :
“Millions of dollars invested and the game still doesn’t work.”
On the one hand, the design of NFTs it was billed as handmade by a dozen artists for 6 months. But the latter would turn out to be alone“a bunch of photos taken from Adobe and clumsily photoshopped”. On the Medium page of the CryptoZoo game, on the other hand, no more articles have been published since April 20, 2022. So no sign of progress of the project since then.
Finally, 2022 having been the epicenter of the bear market, this has not benefited during the ZOO token. Its value has collapsed to 99.5%. An explosive cocktail of bad news for investors.
In the face of the deluge of accusations and dissatisfaction, Logan Paul he just posted a video this January 13 where he gives his mea culpa. They announcement implement a plan refund of‘$1.5 million for scammed investors.
Logan Paul’s bailout plan
Logan’s plan consists of 3 stages. For starters, he and his manager, Jeff Levico-founder of CryptoZoo, will destroy (to burn in English) their ZOO tokens, so that they no longer have any personal interest in the project. This should also increase the value of the token, reducing the offerprovided of course that there is demand.
Then, it will allocate a budget of 1,000 ETH as part of a program reimbursement. It will allow disgruntled investors to destroy their NFT to recoup their initial stake of 0.1 ETH.
Logan Paul initially mentioned a budget of $1.3 million at the price of ETH on January 13th. However, within a few days, the value of such rapidly increasingthe amount requested for the refund is also boosted.
The last step for Logan Paul will obviously be to try finish the CryptoZoo game and deliver it to the part of his community that still believes in it.
“To say I’m disappointed with the way game development has been conducted internally is an understatement. Internal investigations through audits are underway. And we will take legal action against those held responsible. If the money is raised in the process, it will go to the community. »
Logan Paul
Logan Paul will ultimately not take legal action against Youtubeur Coffeezilla. Indeed, he even thanks him at the end of the video for having been able to highlight the development problems of the CryptoZoo game. In this still young world of cryptocurrencies, scams and scams are not uncommon. And the utmost prudence is always a must when it comes to investing your money in a project, even that of your favorite Youtuber.
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