YouTuber and controversial online celebrity Logan Paul has published a video apologizing for the ongoing CryptoZoo issues and detailing a 3-step plan to address things going forward. A series of videos from YouTuber Coffeezilla recently triggered a fiasco, alleging that Logan Paul CryptoZoo game was a scam that defrauded investors and prospective players. Paul responded harshly to these videos, threatening to sue Coffeezilla, but Paul has now taken back those claims and appears to be seeking an amicable solution for everyone involved.
For those unfamiliar, CryptoZoo is a cryptocurrency and NFT-based project that Logan Paul started and pitched to his YouTube and online following. Players would be able to purchase eggs with cryptocurrency, and then hatch and breed them within CryptoZoo. These could be sold, allowing players to make potentially make money. However, CryptoZoo‘s token crashed after players initially invested and the game — which was supposed to launch in 2022 — has yet to be made.
Logan Paul, who started the project, has now released a video apologizing both to Coffeezilla and for the way to CryptoZoo scandal “has unfolded thus far.” Logan Paul first says that his response to Coffeezilla’s videos was an “ego flare” and that he was defensive because he’s “never scammed anyone with this project.” He then closes with an apology for the entire situation, saying he wants his fans to know they can trust him.
The bulk of Paul’s video is spent detailing what will happen going forward via a 3-step plan. Step one of the plan is for Logan Paul and his manager Jeff Lavin to “burn” their CryptoZoo tokens so that they no longer have any financial upside in the game. Step two is to launch a “rewards program” allowing CryptoZoo egg buyers to refund their purchase for their initial price of .1 Ethereum. Paul is investing 1,000 Ethereum himself in this, which is above $1.5 million at this point.
To the surprise of many, step three of Paul’s plan is to finish CryptoZoo and deliver it to players. He goes on to explain the specific functionality still planned for CryptoZoo, which is oddly labeled with fine print on the video noting that details are subject to change. Still, for CryptoZoo early adopters who have somehow not lost hope in the project, it’s something. Considering the way NFT and cryptocurrency value is seen now versus in 2021, however, it may be time to take Paul’s offer of a refund.
What’s still tragic about the situation is that, as fair as Paul’s offer of “rewards program” refund may seem, Ethereum was much higher value when CryptoZoo began selling eggs. The refunded Ethereum will have less than 50% the value it had when first spent. However, that’s likely still much more valuable than a CryptoZoo egg is now, and Ethereum can always grow in value in a way CryptoZoo‘s offerings may never. Whether Logan Paul is forgiven for the situation is unpredictable, but at least this is some form of recompense for CryptoZoo supporters.