Logan Paul Plans Compensation for CryptoZoo NFT Buyers

Logan Paul, renowned YouTuber and co-founder of the game CryptoZoo, recently announced a plan to repurchase NFTs from supporters after the project's collapse.

In a statement on January 5th, Logan Paul revealed his intention to compensate victims who trusted and invested in CryptoZoo NFTs, despite the project never launching despite two years of extensive promotion.

Specifically, Logan Paul plans to allocate over $2.3 million to repurchase Base Eggs and Base Animals NFTs. Holders of these NFTs will need to submit their claims via EGGNFTBUYBACK.COM before February 1st.

To qualify for compensation, buyers must agree to waive any complaints or malicious intent against Paul, referencing a class-action lawsuit filed against him and other founders in February 2023, accusing them of fraud. Paul has denied these allegations, and the repayment effort reflects his assertion of innocence.

Additionally, Paul mentioned filing a lawsuit against two other CryptoZoo co-founders, alleging they exploited his name for personal gain, initially collaborating on the project but later misappropriating funds and disappearing.

In his statement, Paul wrote:

"I have filed a federal lawsuit in Texas to hold these bad actors accountable. This lawsuit is the result of a comprehensive investigation including reviewing all conversations and monitoring suspicious transaction activities related to the project."

Regarding the future of CryptoZoo, Logan Paul confirmed that the game will not be released due to "too many legal hurdles." He also disclosed investing $400,000 of his own money into developing CryptoZoo, but the outcome has been a costly lesson in the crypto market.

This move by Logan Paul underscores efforts to rectify the fallout from CryptoZoo's collapse and address the concerns of affected NFT buyers.