SNEAK PEEK
- Logan Paul’s $2.3 million buy-back program relieves disappointed CryptoZoo NFT investors.
- The buy-back terms specify 0.1 ETH per qualifying NFT, excluding hybrid animal NFTs and ZOO token holders.
- Paul’s lawsuit against CryptoZoo developers shifts blame and marks the end of the CryptoZoo project.
Logan Paul, a YouTuber, has announced a buy-back program for his failed CryptoZoo NFT game. This decision comes as a relief to many disgruntled investors. Initially revealed in August 2021, CryptoZoo promised a unique play-to-earn experience. However, the game never saw the light of day, leading to widespread disappointment among its backers.
Significantly, Paul has committed a substantial $2.3 million to fund this initiative. The program focuses on repurchasing Base Eggs and Base Animals at their original prices. This gesture shows Paul’s commitment to rectifying the situation, albeit belatedly. Investors can submit claims on the dedicated website, “EGGNFTBUYBACK.COM,” until February 8.
Moreover, the terms of the buy-back are quite specific. Eligible participants will receive 0.1 ETH, equivalent to $224, for each qualifying NFT. It’s crucial to note that hybrid animal NFTs and CryptoZoo (ZOO) token holders are not included in this scheme. Additionally, those participating in the buy-back must forgo any future legal claims against Paul and related personnel.
Furthermore, in a post on X (formerly Twitter), Paul expressed his disappointment over the project’s failure. He assured his 6.8 million followers that he had not profited from the venture. This statement aims to restore trust among his followers and the broader crypto community.
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
However, the situation takes a more complex turn when Paul files a lawsuit against CryptoZoo’s lead developers, Eduardo Ibanez and Jake Greenbaum. He accuses them of sabotaging the game and engaging in fraudulent activities. This legal action shifts the blame away from Paul, highlighting internal conflicts within the CryptoZoo team.
Additionally, Paul has confirmed the permanent shelving of CryptoZoo. He cites financial limitations and regulatory hurdles as the primary reasons. This announcement marks the end of a once-promising venture in the NFT gaming space.
Logan Paul’s buy-back program represents a significant effort to address the fallout from the CryptoZoo debacle. It is a cautionary tale in the volatile world of cryptocurrency and NFTs. Investors and enthusiasts will closely monitor how this situation unfolds, hoping for a fair resolution.
