Logan Paul guaranteed reimbursements to CryptoZoo investors a year after he first claimed he would.

Logan Paul Announces Buy-Back for Unreleased CryptoZoo NFTs

Logan Paul, the popular YouTuber, has announced a buy-back initiative for CryptoZoo NFTs, which were associated with an unreleased game. Here are the key details:

  1. Refunding NFT Purchases: Logan Paul is offering to repurchase Base Egg and Base Animal CryptoZoo NFTs at their original purchase price. However, he retains the sole discretion to reject NFTs that don’t meet eligibility criteria, such as those featuring hybrid animals.
  2. Motivation Behind Buy-Back: Paul mentioned that the CryptoZoo game would not be released, and he incurred a significant financial loss of $400,000 with no return. Despite this, he has pledged over $2 million to buy back NFTs from interested parties.
  3. Stated Purpose of Buy-Back: The buy-back is framed as a gesture to compensate those who invested in CryptoZoo NFTs. However, Paul clarified that it is not intended to compensate for losses incurred due to cryptocurrency speculation.
  4. Legal Actions: Paul filed a lawsuit against CryptoZoo’s lead developers, alleging hacking and financial losses. This legal action underscores the severity of the situation surrounding CryptoZoo.
  5. Buy-Back Process: Interested parties can submit their claims through the website EGGNFTBUYBACK.COM until February 8th. The submission process includes providing personal information for KYC purposes and details about the NFTs owned.
  6. Terms and Conditions: Claimants must agree to the terms and conditions, which include dropping any claims against Logan Paul and associated parties related to CryptoZoo. This prevents them from seeking further compensation or legal action.
  7. Token Value Decline: The CryptoZoo (ZOO) token has experienced a significant decline, down 99.8% from its all-time high, reflecting the challenges faced by investors in the project.

In summary, Logan Paul’s buy-back initiative for CryptoZoo NFTs represents an attempt to address the fallout from the unreleased game. However, claimants must navigate the terms and conditions carefully before participating in the buy-back program.

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