YouTuber and professional wrestler Logan Paul recently addressed the setbacks surrounding CryptoZoo, a non-fungible token (NFT) game that remains unreleased three years after its announcement.
Taking to X (Twitter), Logan Paul expressed his disappointment in the project he affirmed to be passionate about. Issues within the team, including mismanagement, financial misconduct, and deliberate sabotage, were cited as contributing factors to the game’s setbacks.
In an effort to rectify the situation, especially for early NFT buyers tied to CryptoZoo, Logan Paul has pledged $2.3 million for the repurchase of Base Eggs and Base Animals CryptoZoo NFTs. He has launched a dedicated website, providing holders with access to a refund request form available until February 8, 2024.
Eligible participants may receive a refund of 0.1 ETH, equivalent to approximately $226.
While offering refunds, Paul clarified that this gesture aims to compensate genuine CryptoZoo enthusiasts, as the NFTs were initially introduced to support the game and not as an investment opportunity, as outlined in the white paper.
Furthermore, Logan Paul, having personally invested $400,000 in the project, has filed a federal lawsuit in Texas against CryptoZoo lead developers Eduardo Ibanez and Jake Greenbaum (known as Crypto King). The lawsuit seeks accountability for the team members who, according to Paul, misled the project’s development.
This legal move follows a previous lawsuit in February 2023. Initially brought by a participant alleging a “fraudulent venture” and a “rug pull” involving Paul, Ibanez, Greenbaum, and two other team members, Paul has shifted blame to Ibanez and Greenbaum in this ongoing legal dispute.
