Logan Paul Offering $1.3M in Refunds for CryptoZoo
Logan Paul posted an apology video for the mismanagement of his CryptoZoo NFT project and outlined how he'll try to make it right, providing a potential refund of $1.3 million.
The 3-Step Plan:
- Logan Paul and Jeff Levin (his manager) will burn their Zoo tokens so they have no financial upside in the game
- Paul will offer a rewards program for players disappointed in the game, who can burn a base egg or base animal for the mint price (0.1 ETH) or equivalent in BNB. Logan is personally committing $1.3 million for players who want to get out.
- Finish and deliver the game as outlined in the whitepaper, by completing the egg bridge from ETH to BSC for base animals and base eggs. Complete the marketplace and release of animals into the wild to accrue yield function.
What Happened with CryptoZoo?
In September 2021, Logan Paul launched CryptoZoo, "a really fun game that makes you money," with Binance Smart Chain. NFT collectors were able to mint and hatch egg NFTs, and breed animals to earn $ZOO tokens. However, the P2E program never took off and the game was never finished.
Paul then went silent for more than one year but was prompted to action after YouTuber CoffeeZilla released videos in December 2022 highlighting how the project was a scam. Paul was combative at first but before eventual apologized.
Why It Matters:
CryptoZoo holders can now cut ties with a project that has not met the expectations or completed the roadmap it initially laid out. However, it should be noted that for refunds of the 0.1 ETH mint cost, the price of ETH was $3,952 on the mint day (September 5, 2021), whereas it's $1,460 today...
Imagine if @coffeebreak_YT never broke this story. Logan never would of posted this. Nice apology video I'll give you that. But we shouldn't have to call you out for a blatant scam for you to do the right thingBando Chief
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