CryptoZoo (game)
CryptoZoo was a failed blockchain game co-founded by the YouTuber Logan Paul.[1][2] Launched in 2021, it promised a blend of cryptocurrency and non-fungible tokens within a game.[3]
Background[edit]
CryptoZoo was marketed as an "autonomous ecosystem" where users could buy, sell, and trade exotic animals and hybrids using non-fungible tokens.[4] Collectors purchased cartoon egg images as NFTs, with the expectation that they could hatch these eggs into randomly chosen animal images.[5][3] The project also introduced a linked cryptocurrency called $ZOO.[citation needed]
Despite raising millions of dollars by selling NFTs and crypto coins, CryptoZoo failed to deliver on its promises.[6][7] A project roadmap outlined various games incorporating the animal NFT images, but none of these features materialized, and no playable game has been published.[citation needed]
Logan Paul initially promoted CryptoZoo as a "really fun game that makes you money".[8] He claimed to have spent around one million dollars on developing the project, emphasizing the massive team behind it.[3] However, after the initial hype, Paul stopped discussing CryptoZoo and seemingly abandoned the project.[9]
Investigation and apology[edit]
Cryptocurrency scam investigator Stephen Findeisen (known as Coffeezilla on YouTube) exposed CryptoZoo as a scam.[10][3] In response, Logan Paul posted an angry video, admitting mistakes in hiring "conmen" and "felons" for the project.[3] He threatened to sue the investigator but later deleted the video and apologized.[3]
Class-action lawsuit[edit]
A class-action lawsuit was filed against Logan Paul, alleging that CryptoZoo was a "fraudulent venture."[4][2] The lawsuit accused Paul and his associates of taking millions of dollars' worth of participants' cryptocurrency through the project.[citation needed]
References[edit]
- ^ Chow, Andrew R. (2 February 2023). "How Logan Paul's Crypto Empire Fell Apart". TIME. TIME. Retrieved 18 May 2024.
- ^ a b Tolentino, Daysia (5 January 2024). "Logan Paul announces he will buy back NFTs from his failed CryptoZoo project". NBC News. Retrieved 18 May 2024.
- ^ a b c d e f Tidy, Joe (9 January 2023). "YouTube star Logan Paul apologises for CryptoZoo project failure". BBC. BBC. Retrieved 18 May 2024.
- ^ a b McCurdy, Will (3 February 2023). "Logan Paul Faces 'Rug Pull' Class-Action Lawsuit Over CryptoZoo NFTs". Yahoo Finance. Retrieved 18 May 2024.
- ^ Alexander, Victor (2023-01-10). "Logan Paul, a popular YouTuber, apologizes for the CryptoZoo project's failure". InsideBitcoins.com. Retrieved 2024-05-16.
- ^ Sung, Morgan (2024-01-05). "Logan Paul promises CryptoZoo refunds, as long as you don't sue him". TechCrunch. Retrieved 2024-05-16.
- ^ Glover, George. "Logan Paul is being sued for promoting a failed crypto game that asked people to buy NFTs but never launched". Markets Insider. Retrieved 2024-05-16.
- ^ Tidy, Joe; Rahman-Jones, Imran (5 January 2024). "Logan Paul offers partial refund for failed CryptoZoo game". BBC. BBC. Retrieved 18 May 2024.
- ^ Silberling, Amanda (6 January 2023). "YouTuber Logan Paul's CryptoZoo NFT project is a total mess". TechCrunch. Retrieved 18 May 2024.
- ^ Haylock, Zoe Haylock, Zoë (6 January 2023). "Logan Paul SBF'd Up". Vulture. Retrieved 18 May 2024.
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