Logan Paul announces CryptoZoo buyback program a year after promising to compensate victims

Logan Paul, an American influencer, YouTuber, and wrestler, has recently announced the CryptoZoo buyback program on X. The program aims to compensate those who invested money in his Cryptozoo game project in 2021 and lost all of it. Delivering on his promise from 2023, the YouTuber will buy back the Base Egg and Base Animal NFTs for their original price. He mentioned that claims for the NFTs can be submitted till February 8, 2024.

In the post, Logan Paul claimed he never made money from the CryptoZoo project and will commit more than $2.3 million to the buyback program. He also explained why the game project had failed and mentioned filing a lawsuit in federal court in Texas:

"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."

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"Big Move" - Users opine on Logan Paul's initiative to pay back CryptoZoo investors

Logan Paul spent about $400,000 on the Cryptozoo project, according to his latest post on X. He confirmed the game would not be released and admitted there were too many regulations to follow when he started the project. The WWE star also mentioned that the money invested by people was indeed stolen 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."

CryptoZoo was an NFT game where you could buy Egg NFTs using crypto tokens, which is the in-game currency. The eggs would hatch animals, and users could breed their animals with other animal species to create hybrid and rare NFTs. They could get Zoo tokens (the currency) daily based on the rarity of said animals and NFTs. However, the mechanism of yielding returns failed, leading to the project's downfall and backlash at Logan Paul.

Since Logan's post announcing the buyback scheme, numerous users have flooded the comment section. One user appreciated the YouTuber and called it a big move:

"Big move, thanks for doing the right thing."

Here are some more reactions to the latest tweet.

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Logan Paul has mentioned that investors can submit a claim on the buyback website until February 8, 2024.