Kemo
01-05-2024, 08:38 PM
Logan Paul is known outside the WWE Universe for his varies ventures, but not all of them have been successful. The United States Champion's name was involved in an NFT project in late 2021, and now he is paying back people who lost money.
The CryptoZoo NFT project, initially presented as a game, turned out to be a fraudulent venture. The idea was that investors would buy NFTs, pictures of an egg, and then they would hatch into an animal. A website was supposed to be created where investors could then take multiple NFTs and place them together, breeding them into a new animal form. That new form could be rare, and worth much more as an NFT. It was all a gamble, as is anything in Web3.
The problem started when the eggs never hatched. Animals were never revealed, leading to an OpenSea page full of unhatched eggs. Investors, who put in a ton of money on Logan Paul's name, hoping for at least a pump and dump, never got that pump at all, because CryptoZoo remained an unrevealed project.
Investors purchased NFTs with the promise of revealing creatures, but the eggs never hatched, leaving investors without returns. Despite Logan Paul's pledge to reimburse victims at their mint price, which has decreased in Ethereum value since 2021, the promised restitution is yet to be fulfilled.
From 2019 to 2021, Ethereum price rallied and reached its highest price of $4,815 on November 9th, 2021. On January 4th, 2023, at the time of this writing, Ethereum is worth $2,277.67 each. The mint price for CryptoZoo was 0.1 ETH.
SomeOrdinaryGamers, an incredibly popular YouTuber with over 3 million subscribers, and others used their influential platforms to call out Logan Paul for not fulfilling his commitment to repay those affected by the CryptoZoo scandal.
we9_GNf78rk
Logan Paul got the message, and today he released a lengthy post, a message to all CryptoZoo investors with information about how to attain that refund in Ethereum.
"Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at http://EGGNFTBUYBACK.COM. Claims can be submitted through this site through February 8.
I approached the CryptoZoo project like everything else I am passionate about – with only the best possible intentions and success for everyone who shared our vision. I never made a single penny from the project, period. In fact, the opposite is true, because I spent hundreds of thousands of dollars trying to make it happen. 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. Like you, I was highly disappointed that the game was not delivered.
As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game. This has now been confirmed by an extensive investigation that has involved a forensic analysis of blockchain activity and the review of thousands of communications.
With this evidence in mind, today, I have filed a lawsuit in federal court in Texas to hold these bad actors accountable. The 25-page lawsuit is public and it can be found here: https://drive.google.com/file/d/1bu0WMbW3co-HlXq-HlXbLdpAOZSzJKmf/view?usp=sharing… … 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. Nefarious trading activity taken behind our backs, without our knowledge, and with the intention of defrauding us all.
As far as the game itself, unfortunately it will not be released. I personally spent $400,000 to have it developed and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further. This buy-back is a way for me to make whole those who intended to play CryptoZoo. The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper.
This solution has been anything but simple, so I want to thank everyone for their patience as we figured out the logistics of making sure the first ever NFT buy-back is a smooth process: http://EGGNFTBUYBACK.COM"
1742965334645276708
It is important to note that it was never proved in any fashion that Logan Paul intentionally scammed anyone with the CryptoZoo project. Coffeezilla produced an amazing documentary series about the entire fiasco, which showed documented evidence that people Logan Paul trusted may not have had the best intentions.
The CryptoZoo game will never be released, leaving investors with yet another rugpull that they can add to a digital wallet full of NFTs that didn't do anything except lose money.
Logan Paul is still WWE United States Champion, even though he traded Patrick Mahomes the title for his Super Bowl ring. The Maverick will defend his title again at the Royal Rumble in Tropicana Field on January 27th.
386p68_lDHA
The CryptoZoo NFT project, initially presented as a game, turned out to be a fraudulent venture. The idea was that investors would buy NFTs, pictures of an egg, and then they would hatch into an animal. A website was supposed to be created where investors could then take multiple NFTs and place them together, breeding them into a new animal form. That new form could be rare, and worth much more as an NFT. It was all a gamble, as is anything in Web3.
The problem started when the eggs never hatched. Animals were never revealed, leading to an OpenSea page full of unhatched eggs. Investors, who put in a ton of money on Logan Paul's name, hoping for at least a pump and dump, never got that pump at all, because CryptoZoo remained an unrevealed project.
Investors purchased NFTs with the promise of revealing creatures, but the eggs never hatched, leaving investors without returns. Despite Logan Paul's pledge to reimburse victims at their mint price, which has decreased in Ethereum value since 2021, the promised restitution is yet to be fulfilled.
From 2019 to 2021, Ethereum price rallied and reached its highest price of $4,815 on November 9th, 2021. On January 4th, 2023, at the time of this writing, Ethereum is worth $2,277.67 each. The mint price for CryptoZoo was 0.1 ETH.
SomeOrdinaryGamers, an incredibly popular YouTuber with over 3 million subscribers, and others used their influential platforms to call out Logan Paul for not fulfilling his commitment to repay those affected by the CryptoZoo scandal.
we9_GNf78rk
Logan Paul got the message, and today he released a lengthy post, a message to all CryptoZoo investors with information about how to attain that refund in Ethereum.
"Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at http://EGGNFTBUYBACK.COM. Claims can be submitted through this site through February 8.
I approached the CryptoZoo project like everything else I am passionate about – with only the best possible intentions and success for everyone who shared our vision. I never made a single penny from the project, period. In fact, the opposite is true, because I spent hundreds of thousands of dollars trying to make it happen. 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. Like you, I was highly disappointed that the game was not delivered.
As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game. This has now been confirmed by an extensive investigation that has involved a forensic analysis of blockchain activity and the review of thousands of communications.
With this evidence in mind, today, I have filed a lawsuit in federal court in Texas to hold these bad actors accountable. The 25-page lawsuit is public and it can be found here: https://drive.google.com/file/d/1bu0WMbW3co-HlXq-HlXbLdpAOZSzJKmf/view?usp=sharing… … 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. Nefarious trading activity taken behind our backs, without our knowledge, and with the intention of defrauding us all.
As far as the game itself, unfortunately it will not be released. I personally spent $400,000 to have it developed and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further. This buy-back is a way for me to make whole those who intended to play CryptoZoo. The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper.
This solution has been anything but simple, so I want to thank everyone for their patience as we figured out the logistics of making sure the first ever NFT buy-back is a smooth process: http://EGGNFTBUYBACK.COM"
1742965334645276708
It is important to note that it was never proved in any fashion that Logan Paul intentionally scammed anyone with the CryptoZoo project. Coffeezilla produced an amazing documentary series about the entire fiasco, which showed documented evidence that people Logan Paul trusted may not have had the best intentions.
The CryptoZoo game will never be released, leaving investors with yet another rugpull that they can add to a digital wallet full of NFTs that didn't do anything except lose money.
Logan Paul is still WWE United States Champion, even though he traded Patrick Mahomes the title for his Super Bowl ring. The Maverick will defend his title again at the Royal Rumble in Tropicana Field on January 27th.
386p68_lDHA