CryptoZoo Gets Revival Plan From Logan Paul
Controversial Youtuber Logan Paul on Jan. 13 revealed a three-step plan, which included the donation of 1,000 ETH (roughly $1.5 million) to save the CryptoZoo project.
In a Jan. 13 video, Paul refuted claims that he made money from the project, adding that he is focused on fixing CryptoZoo and fulfilling its roadmap.
The YouTuber appreciated Coffeezilla’s investigation into the project and reiterated that he would no longer sue the crypto investigator. According to him, suing Coffezilla would represent a misplaced priority as he should focus on his fans and supporters. Paul had previously threatened to sue Coffeezilla over defamatory accusations.
Logan Paul CryptoZoo Revival Plans
The first stage of Paul’s 3-step plan includes burning CryptoZoo tokens owned by him and his co-founder Jeff Levin. He said burning these tokens would help remove their financial upside and add value to the token.
Meanwhile, the second stage is the commitment of 1,000 ETH ($1.5 million) to the project. The fund would reimburse investors who wish to burn their NFTs and recoup their 0.1ETH investment. Due to ETH’s drastic decline in 2022, investors who take this option would only be recouping $150 instead of the $350 they invested in the project.
Paul noted that the third stage of the plan is to finish and deliver the game in line with the whitepaper. CryptoZoo was initially designed as a play-to-earn game that allows players to mint and hatch eggs, breed random animals, and sell them to earn ZOO tokens.
In the same vein, he announced the launch of an internal investigation and audit to ascertain the people involved. Paul also promised accountability while pledging to return any recovered money to the community.
Community Has Mixed Response to Logan Paul’s Revival Plans
Crypto community members have mixed reactions to Logan Paul’s new efforts to revive the CryptoZoo project.
While some community members appreciated Paul’s efforts, others pointed out that Coffeezilla’s video exposed him.
A crypto investor Crypto Bitlord said:
But let’s be honest. You didn’t care until it started to impact your reputation as a scammer. You then threatened to sue. And when you realised it backfired, you started this to try to please people. You are as fake as it gets. A true Larp.
A founder and adviser to several crypto project Damon Nam believed Paul implemented the revival plan to avoid regulatory scrutiny and a class-action lawsuit. According to Nam, the Youtuber would have worked on the project before Coffeezilla’s series of investigative videos.
Disclaimer
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.
