Logan Paul Offers CryptoZoo Refunds On Grounds That He Is not Sued

Logan Paul has promised refunds for the allegedly fraudulent and failed NFT game CryptoZoo which he launched in 2021 if he is not sued. Via a post on X () Paul announced that he was spending more than $2.3 million to buy back NFTs purchased through CryptoZoo. Claims can be submitted online until February 8. Paul claims he has “never made a single penny from the project.” “I spent hundreds of thousands of dollars trying to make it happen,” Paul said in his post. Claimants will receive 0.1 ETH per eligible NFT — known as “Base Eggs” and “Base Animals.” To be eligible for a refund, claimants have to agree to waive any “actual or anticipated claims against Paul.” Paul is facing a class action lawsuit for allegedly making millions of dollars of cryptocurrency by promoting a game that ultimately didn’t exist. Paul had described the NFT project as a “really fun game that makes you money” when he announced it during an August 2021 episode of his podcast, “Impaulsive.” CryptoZoo was marketed as a collecting game using ethereum — each NFT was an egg that was supposed to hatch into an animal that was assigned one of five levels of rarity. Those animals could be bred to produce hybrid animals, which also varied in rarity. Every time an egg hatched, it was supposed to yield a certain amount of $ZOO tokens, which were determined the animal’s rarity. Players were supposed to be able to either buy more eggs or cash out each time an animal hatched.