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Logan Paul unveils CryptoZoo's $1.3M recovery plan

Published on

January 14, 2023
Read Time:3 Minute, 7 Second

YouTuber Logan Paul has unveiled a $1.5 million restoration plan for the individuals who invested in his ailing NFT venture, CryptoZoo.

Asserting the transfer in a video shared through Twitter Jan. 13, Paul reiterated that he's now not looking for to sue his YouTuber Coffeezilla for defamation over allegations he made in a collection of movies crucial of Paul's NFT venture .

My 3-step plan for CryptoZoo, together with a $1.3M rewards program for disenchanted gamers.

Thanks, @Kaffeepause_YT pic.twitter.com/xFX017UHoc

— Logan Paul (@LoganPaul) January 13, 2023

As such, Paul emphasised that he's as a substitute targeted on fixing CryptoZoo, implementing the roadmap, and making issues proper with followers and traders:

"The actual fact of the matter is {that a} lawsuit in opposition to Coffeezilla is not going to assist Cryptozoo homeowners, so I must put my consideration the place it must be, which is followers and supporters of mine."

Paul defined that his restoration plan has three phases. First, he and his supervisor/CryptoZOO co-founder Jeff Levin will burn their ZOO token holdings in order that they have “no monetary benefit” within the recreation and so the token supposedly has extra worth.

Second, he claimed that he'll personally present 1,000 Ether (ETH) as a part of a rewards program that can permit “disenchanted” traders to burn their NFTs to get again the preliminary coin worth of 0.1 ETH ($150).

Response Tweet from @CryptoKingBob: Twitter

It is value noting that on the time of Paul's tweet, 1,000 ETH was value round $1.3 million, however the worth of ETH - alongside a number of different prime property - has since been on a hefty pump that has seen its worth to win 10.2% within the final 24 hours to round $1,548.

Lastly, Paul famous that the third part is to "clearly full and ship the sport as outlined within the whitepaper," which was initially touted as a earn-for-game recreation that farmed animal NFTs to earn ZOO token rewards obtain.

"To say I'm disenchanted with the best way this has been dealt with internally is an understatement, a full inside investigation is being carried out together with an audit and we are going to take all authorized motion to carry everybody liable for the have to be held accountable.”

"If cash is recovered within the course of, it goes straight to the neighborhood," he added.

Group response to Paul's Twitter publish was blended, with some saluting Paul's efforts whereas others continued to pile in criticism.

Associated: NFTs have a brighter future on Instagram than they do on Twitter

Customers like @tharaxis famous that whereas the criticisms of Paul and CryptoZOO have been legitimate, “all of this appears very optimistic and whereas it is taken some time this undoubtedly deserves a 'good job'. Hopefully it would keep that manner."

Genius Group founder and CEO Roger Hamilton added: "I am sorry and reparations to those that have misplaced cash. How good if all CoffeeZilla investigations ended like this.”

On the different finish of the spectrum, fashionable NFT and crypto dealer @crypto_bitlord7 said, “However let's face it. You did not care till it began affecting your repute."

"They then threatened to sue. And whenever you realized it was going to backfire, you began doing it to please individuals. You are as mistaken because it will get. An actual larp,” they wrote.

He hasn't taken any duty YET!

He mentioned, "I am sorry about how issues turned out." He refuses to consider he's responsible.

As well as, he mentioned: "Full investigation of WHOEVER is accountable"

And now he treats Coffeezilla like his greatest buddy, however he would not observe him

- Youssof Altoukhi (@Youssofal_) January 13, 2023



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 14, 2023
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