In a recent development, Logan Paul, the renowned YouTuber and influencer, has declared a new initiative to recompense investors of his CryptoZoo NFT game. After a year of anticipation, Paul has pledged a $2.3 million personal fund to buy back NFTs from the undelivered game.
CryptoZoo, a blockchain-based game announced in August 2021, promised a play-to-earn ecosystem where users could purchase and nurture digital animals. Despite the trading of Base Eggs worth over 3,009 Ether on OpenSea, the game failed to launch.
The compensation program offers 0.1 ETH per eligible NFT to holders, on the condition that they relinquish any present or future legal claims against Paul. However, the buy-back excludes Hybrid animal NFTs and does not cover CryptoZoo (ZOO) tokens, which have plummeted to nearly 100% below their peak value.
Amidst the controversy, Paul has taken legal action against former developers Eduardo Ibanez and Jake Greenbaum, attributing the project’s derailment to their alleged misconduct.
This move by Logan Paul comes as a closure attempt for the project, which he confirms will not see the light of day due to financial and regulatory challenges. The buy-back program marks an effort to rectify the situation for those affected by the unreleased game, a full circle from the initial recovery plan announced nearly a year ago.
