Quick take:
- The announcement comes a year after the YouTuber turned boxer promised refunds.
- Logan Paul will buy back the NFTs, which include base eggs and base animals at their original purchase price.
- The never-released CryptoZoo game allowed players to buy, sell, breed and trade exotic animals.
Logan Paul has announced a buyback program for the CryptoZoo NFTs. The American social media influencer and wrestler is offering 0.1 ETH, per NFT but requires holders to waive any potential claims they have against him.
The announcement comes a year after Paul promised to refund holders of NFTs of the unpublished NFT game. The CryptoZoo NFTs launched in 2021 with plans to launch a gamified experience that allowed players to earn from the gaming activity, as well as, buy, sell, breed and trade exotic animals.
Initially planned for a September 2021 release, the game was never released, leading many to call the project a rug pull.
More than two years later, Logan Paul is now personally committing $2.3 million to the Buyback program, which will see him acquire base eggs and base animals NFTs at their original purchase price “for every person who intended to play CryptoZoo.”
“With this buy-back program, I am personally committing more than $2.3 million to buy back Base Eggs and Base Animals from every person who intended to play CryptoZoo,” Paul wrote in a post on X (formerly Twitter).
Paul blames bad actors for the failed CryptoZoo project, accusing them of betraying the team and stealing money to sabotage the game.
He even claims to have acquired evidence following a forensic audit of blockchain activity and a review of thousands of communications.
Paul has consequently filed a 25-page lawsuit in the federal court in Texas to bring the culprits to justice.
“This lawsuit is not based just on snippets of conversations taken out of context. This lawsuit is the result of an exhaustive investigation that included the review of the entirety of conversations and tracking nefarious trading activity related to the project,” he wrote.
The buybacks also mean that the CryptoZoo project will now be sealed and forgotten, with Paul adding that the game will unfortunately not be released.
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