YouTuber promises to refund millions to the players of his failed crypto game

YouTuber Logan Paul has promised refunds for the failed CryptoZoo NFT game launched in 2021. However, the catch is a notable clause barring claimants from suing him.

Announced via X (formerly Twitter), Paul disclosed plans to commit over $2.3 million toward repurchasing NFTs associated with CryptoZoo. “I never made a single penny from the project, period. In fact, the opposite is true, because I spent hundreds of thousands of dollars trying to make it happen,” Paul said in his post. “Like you, I was highly disappointed that the game was not delivered.”

CryptoZoo’s vision was a virtual animal trading platform using cryptocurrency. Paul initially encouraged investing in cryptocurrency collectibles, touting a “fun game that makes you money.” However, despite the sale of millions in NFTs and crypto coins, Paul’s promotion of CryptoZoo halted, leaving the project seemingly abandoned.

Amidst an investigation by another YouTuber in December 2022, Paul issued an apology, aiming to rectify the situation. Now, a year later, he’s initiating a buy-back program, costing him $2.3 million (£1.8 million). The refund equates to 0.1 Ether per purchased NFT, focusing on “Base Eggs” and “Base Animals.” Notably, hybrid animals resulting from breeding, also NFTs, are excluded from the refund initiative.

However, the terms and conditions stipulate Paul’s discretionary power to reject submitted NFTs. Moreover, claimants must waive any current or potential claims against Paul, essentially refraining from legal action related to CryptoZoo.

Paul faces a class action lawsuit for allegedly promoting a non-existent game and making millions of dollars in cryptocurrency. In response, the YouTuber filed a cross-claim and stated in a post that he has filed a lawsuit in federal court in Texas to hold the bad actors accountable. He further explained that a thorough investigation was conducted, which included reviewing all conversations and tracking nefarious trading activity related to the project. According to him, the trading activity was conducted without his knowledge and to defraud everyone involved.