Logan Paul Announces Refund Plan for Troubled CryptoZoo NFT Project
• Logan Paul has announced a three-prong program to refund investors of his troubled CryptoZoo NFT project.
• The program involves allowing investors to exit the project and burn their tokens, Paul and his manager Jeff Levin burning their own tokens, and completing and launching the game and marketplace.
• Paul also apologized to Coffeezilla, who had criticized the project last month.
YouTube influencer Logan Paul recently announced a three-prong program to refund investors of his troubled CryptoZoo Non-Fungible Token (NFT) project. The program is intended to address the growing dissatisfaction with the project, and is part of Paul’s commitment to improve the project and make sure investors are satisfied.
The refund plan involves allowing investors to exit the project and burn their CryptoZoo base tokens for their mint price. The mint price is 0.1 ETH ($144), and Paul has committed 1000 ETH ($1.4 million) to the redemption plan. Those who redeem their tokens will be able to receive ETH or BNB tokens. Paul and his manager Jeff Levin will also burn their own tokens to eliminate their financial upside in CryptoZoo.
Finally, Paul stated that he plans to complete and launch the game and marketplace as promised. He added that an internal investigation and audit would be performed and that any funds recovered in that process would be returned to the community.
Paul also apologized to Stephen Findeisen, who goes by the name Coffeezilla, for the project’s incomplete status. Coffeezilla had criticized the project in December in a series of videos, one of which was titled „Investigating Logan Paul’s Biggest Scam.“ Paul’s apology and refund plan are seen as a step in the right direction for the project.
The CryptoZoo project was first announced in 2021, and was intended to be a collectible NFT project on Binance Smart Chain. Paul and his team are now working to improve the project and make sure investors are satisfied. Paul’s refund plan is an effort to make sure that investors who are unsatisfied with the project have the opportunity to be reimbursed. It also clarifies Paul’s commitment to launching the game and marketplace as promised.