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.
This all started after an investigation by YouTuber Coffeezilla accused CryptoZoo of being a complete scam, noting how the game isn’t anywhere near complete despite accepting upwards of $2.5 million from prospective NFT breeders. The game works by allowing players to hatch NFT eggs into animals that could then be bred with other animals to make strange hybrid creatures. Certain animals and features will be rarer than others, making their hybrid babies more valuable.
Logan Paul’s Cryptozoo Plans
Posted on January 13, the video quickly went viral on Twitter. In it, Paul revealed his three-step plan for CryptoZoo. “Coffeezilla is not a criminal, I called him. I apologized. My initial reaction to his series was fire, ego and pride. I defended myself because I know that I have never deceived anyone with this project,” he said. “The fact is that a lawsuit against Coffeezilla will not help Cryptozoo holders, so I need to focus my attention on this.”
He then presented his three-step plan to improve the situation of both existing holders and new investors. Paul continued: “Jeff and I are going to burn our tokens so that we don’t have financial opportunities to play, and this will increase the value of the old tokens. Step Two: we want to offer a reward program for players who are unhappy with the status of the game.”
A few days ago, Stephen “Coffeezilla” Findeisen presented the results of a year-long investigation into CryptoZoo, concluding that it was all a scam. The creators of the NFT game, Zach Kelling and Eddie Ibáñez have a criminal past and in this case they acted under the “rug pulling” scheme, that is, they invested in cryptocurrencies while building the hype around the figure of Logan Paul and his foray into the media. NFT, then when fans started pouring their money into the project and the asset price hit an all time high, this pair sold their cryptocurrencies and ran off with the profits. Then the price plummeted, leaving those interested with losses.
Logan Paul pointed out that he did not know about the past of both subjects and even when he was upset by the Coffeezilla investigation and even threatened to sue him, he later accepted that it was only his ego hurt by being the alleged victim of this fraud and now seeks to repair the damage .
Logan Paul’s Apology
The YouTuber took to social media and issued an official apology to the investors who lost thousands of dollars in his scheme. Moreover, he revealed that there was an ongoing internal investigation and that he would disclose any findings to the public.
“To say I am disappointed with how this was handled internally is an understatement. There’s a full internal investigation going on along with an audit and we’re going to pursue full legal action for whoever needs to be held accountable. I’m sorry guys, I apologize for how this has unfolded this far, and I want people to know that they can trust me and that I’ll always take care of the fans… I promise to be transparent and disclose anything that happens in the process,” he said.
