Logan Paul and the compensation for the NFT project “Crypto Zoo”.

In January 2023, the YouTuber and boxer Logan Paul had stated that he would compensate approximately $1.5 million to investors of the NFT project ‘Crypto Zoo’, with the latter proving to be a total failure.

In parallel with the NFT collection, which has now lost almost all of its value, a game would actually also be launched in which holders of these non-fungible tokens could participate and earn passive returns.

The gaming ecosystem was never really initiated and many users started accusing Logan Paul of fraud.

Eight months after promises of compensation, the public figure says he is working to repay his community, but sadly no one has yet received his money back.

The rug from Logan Paul’s “Crypto Zoo” NFT project

Two years ago, the famous YouTuber and boxer Logan Paul had announced the creation of his own NFT project, called CryptoZoowhich attracted a lot of attention within his community in the first few months.

The project consisted of a series of non-fungible tokens representing “digital eggs” to be hatched at the planned launch of a virtual game in which the NFTs in question would be useful.

The holders of these non-fungible tokens would, according to the YouTuber’s promises, have been able to access the game with the opportunity to receive passive returns by creating a return on their initial investment.

The reality of the facts is that the highly anticipated gaming ecosystem was never launchedwith investors losing hope after Logan Paul stopped mentioning CryptoZoo.

The NFTs in the collection began to see their value declinegoing from an initial average floor price of 0.39 ETH, equivalent to about $1350 according to September 2021 Ether prices, to the current 0.025 ETH, which equates to just over $40 (last sale and best bid on OpenSea). , items from the NFT project that have never seen the light of day outside of digital collector marketplaces lost over 95% of their equivalent to the US dollar.

Logan Paul’s entire community lashed out at him in the months that followed for failing to keep his promises, after effectively scamming the audience he enriched himself with on his YouTube channel.

As icing on the cake, it is worth noting that, in parallel with the junk NFTs now worth next to nothing, a cryptographic token called ZOO was also launchedthat after a few weeks of rising rapidly in the decentralized markets, a rapid decline began until its value fell to zero.

Again, the token was supposed to serve as a utility token within the phantom game.

In February 2023, investors in the ZOO token and NFTs filed a class action suit in the Western District Court of Texas to Suing Logan Paul’s carpet puller, who fraudulently advertised a range of products that turned out to be worthless.

The filing alleged that, unbeknownst to the customers, the promised game did not work or never existed, and that the defendants manipulated the crypto markets to their own advantage to profit financially on the backs of investors.

YouTuber says he is working to compensate investors disappointed by his NFT project

Given the shit storm that unfolded on the YouTuber’s various social media in 2022, Logan Paul had announced in January 2023 that he has drawn up a compensation plan in three steps to compensate all those who had lost money by investing in the CryptoZoo NFTs and the ZOO Token.

In total he would pledge to return more than $1.5 million to his community.

A month after the release of the video message in which the boxer announced his willingness to return the lost money to investors, another prominent YouTube personality known as “Coffeezilla” publicly denounced Logan Paul and called CryptoZoo an outright scam.

In a video interview, he reportedly stated the following:

“I’ve talked to the victims and watched their public Discord chat throughout the year. The last time Logan communicated with them was in January. I also approached Logan several times to ask about this.

According to the victims, no payments have been made. There is no excuse for this. Logan has made a public statement about this, taking credit for it and ghosting the victims.”

Now, several months after the incident, no one has received the slightest bit of compensation, while the community continues to accuse the YouTuber of mocking his audience.

However, the king of broken promises doesn’t seem to have forgotten what he said in January.

During the recent presentation of a fight between him and boxer Dillon Danis that will take place at the AO Arena in Manchester on October 14, he explicitly stated that he is “working” to pay back investors involved in the CryptoZoo project.

Given his track record and aptitude for faking it on camera, we can only assume his words will be part of yet another lie in a story that will go down in history as one of the biggest scams by a YouTuber.