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Social media influencer Logan Paul has announced to his millions of followers his commitment to personally repay victims of the failed NFT project CryptoZoo, which he launched and endorsed.
“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,” Paul stated.
Logan Paul Takes CryptoZoo Matters Into His Own Hands
In a lengthy post on X (formerly Twitter), Paul declared he is taking it into his own hands to repay victims of the failed NFT project CryptoZoo.
“With this buy-back program, I am personally committing more than $2.3 million to buy back Base Eggs and Base Animals from every person who intended to play CryptoZoo.”
However, Paul takes responsibility for paying back the victims. While his promotions reportedly attracted many, he argues that malicious individuals sabotaged the project.
“As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game.”
CryptoZoo Emerged as a Promising Venture
Meanwhile, in 2021, Paul, armed with an enormous online audience of 4 million subscribers, threw his weight behind CryptoZoo.
The platform was portrayed as an enticing game with profitable potential. It even drew parallels to iconic brands like Pokémon in its promotional pitches.
However, the storyline took a turn when YouTuber CoffeeZilla unveiled a three-part series critiquing the CryptoZoo enterprise. The investigation spotlighted concerns about CryptoZoo’s business model.
Furthermore, the game enticed players to purchase in-game currency, ultimately resulting in unfulfilled promises and unrecovered investments.