Logan Paul, the popular YouTuber and non-fungible token influencer behind the collapsed CryptoZoo NFT game, has launched a $1.5 million recovery plan to compensate NFT investors who initially invested in his NFT project.
Logan Paul’s CryptoZoo NFT Project Explained
In a January 13 blog post, Logan Paul confirmed unveiling a $1.5 million recovery plan to compensate victims of his fallen NFT project CryptoZoo. The NFT influencer rug pulled his NFT project last year, citing poor crypto market conditions.
My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players.
— Logan Paul (@LoganPaul) January 13, 2023
The CryptoZoo NFT project came into the spotlight last after fellow YouTuber and NFT investor Coffezilla unleashed a 60-minute series, accusing Logan Paul and his fellow crypto investors of rug-pulling their NFT project.
Earlier this month, Logan Paul publicly refuted such claims, vowing to sue his fellow YouTuber Coffeezilla for defamation over wrong accusations. Coffeezilla had described CryptoZoo as an NFT project that stole millions from investors.
Logan Paul Backtracks, Unveils A $1.5 Recovery Plan
In a recent statement, Logan Paul announced that he is no longer interested in suing Coffeezilla, insisting that he is focused on fixing his collapsed CryptoZoo. Paul anticipates creating a good reputation with fans and investors. He explained:
“The fact is, suing Coffeezilla is not going to help Cryptozoo holders so I do need to focus my attention where it should be, which is on fans and supporters of me.”
Logan Paul has begun making things right by setting up a three-phase recovery plan. During the first stage, he and his manager Jeff Levin will burn their ZOO token holdings to raise the value of their token.
Logan Paul has claimed he will commit 1,000 Ether as part of a reward program to motivate the previously “disappointed” investors to burn their NFTs to get the initial 0.1 ETH ($150) mint price pack.
In his last stage, the NFT influencer anticipates finishing and delivering the NFT game, as previously stated in the whitepaper. Logan Paul and his team intended to launch a play-to-earn game that allows players to breed animal NFTs to earn ZOO tokens.
In related developments, Meta Masters Guild (MEMAG) is a new play-to-earn NFT racing game taking the crypto community by storm. The NFT game allows players to use its native MEMAG tokens to buy and upgrade their drivers and karts available in the Meta Masters Guild Store. The NFT project has raised more than $200,000 from its token presale.
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