Logan Paul will compensate victims who purchased CryptoZoo NFTs
In a new announcement on platform on buying NFTs of the CryptoZoo game he co-founded. Notably, this game project has never been released, despite being strongly promoted for more than 2 years.
Specifically, famous youtuber Logan Paul plans to spend over 2.3 million USD to buy back Base Eggs and Base Animals NFTs of the game CryptoZoo that he co-founded. Holders of these NFTs are required to fill out the form on EGGNFTBUYBACK.COM by the February 1 deadline.
To receive compensation, buyers must agree to waive any claims or bad faith against Logan Paul, in connection with a February 2023 class action lawsuit alleging fraud and deceit. Logan Paul has denied these allegations and the payback appears to be an attempt to prove his “innocence”.
In the announcement, Logan Paul also shared that he has filed a lawsuit against the other two co-founders of CryptoZoo. Part of the reason is because they took advantage of his name to make profit, and built the project from scratch but then tried to appropriate the money and disappear.
Logan Paul wrote:
I have filed a lawsuit in federal court in Texas to hold these bad actors accountable. This lawsuit is the result of a comprehensive investigation, including a review of entire conversations and monitoring of illicit transaction activities related to the project.
Related: Bitcoin Surpasses Ethereum in Latest NFT Sales
Regarding the future of CryptoZoo, Logan Paul stated that the game will not be released, because “there are too many legal hurdles”. He also revealed that he spent $400,000 from his own pocket to develop CryptoZoo, but realized that what he gained were “hard” lessons about the cryptocurrency market.
