- Logan Paul is offering to buy back CryptoZoo NFTs at their original price after the project failed to launch as promised. Eligible NFTs include Base Eggs and Animals, but not Hybrids or ZOO tokens. Participants must waive legal claims.
- Paul filed a lawsuit against former CryptoZoo developers, accusing them of stealing money and sabotaging the project. He says he never profited and wants to hold them accountable.
- This buyback program follows previous unfulfilled promises of refunds. Many investors still face massive losses, even with the buyback option. The saga highlights the risks of speculative NFT projects.
In a recent turn of events, famous YouTuber Logan Paul is making a move to fix a big problem with his NFT project, CryptoZoo. This project, which was supposed to be a fun game where you could earn by playing with animal-themed digital tokens, didn’t work out. Now, Paul is offering to buy back these tokens from the people who bought them.
The Plan to Buy Back NFTs
Logan Paul has set up a way for people who bought certain types of CryptoZoo tokens to get their money back. If you have a ‘Base Egg’ or ‘Base Animal’ token, you can ask for the original amount you paid, but in Ethereum, a type of digital money. However, if you have a ‘Hybrid Animal’ token or ZOO tokens, you can’t join this plan. Also, if you agree to this deal, you can’t later say that Paul or his team did something wrong.
Paul’s Own Money and Timeframe
To make this happen, Paul is using $23 million of his own money. People who want to sell their tokens back to him can do so until February 8, 2024.
Legal Troubles Behind the Scenes
Paul is not happy with some of the people who helped him make CryptoZoo. He’s taken two main developers to court, saying they took money that wasn’t theirs and messed up the project on purpose. Paul is trying to show that he didn’t make any money from CryptoZoo and wants these developers to take responsibility for the problems.
Past Promises and Current Issues
Before, Paul told everyone he would give back the money and fix the game. But later, he said the game wouldn’t come out at all. The ZOO tokens, which were part of the game, aren’t worth much now. So, many people who put their money into this are still waiting to get it back.
In the End
This new plan by Logan Paul to buy back the NFTs is his latest effort to make things right with the people who invested in CryptoZoo. But, because of all the rules and the big losses already, not everyone will be happy. This whole story shows how risky it can be to put your money into new digital projects like NFT games.
