CryptoZoo

Logan Paul Announces CryptoZoo Buyback & Lawsuit

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Logan Paul has announced a $2.3M CryptoZoo buyback, purchasing all Base Egg and Base Animal assets. The move will finally mean that investors who accused the influencer of running a crypto scam will be able to recoup their investment in the NFT video game project. In an accompanying statement, Paul said he had “only the best intentions” and that the game’s aborted release was due to “regulatory hurdles that would need to be cleared that I did not originally understand”.

Additionally, Paul announced a lawsuit against CryptoZoo’s developers as well as Jake “Crypto King” Greenbaum. Paul has accused the two men of leaking classified information about the project, causing external traders to capitalize and devalue the market for ZOO tokens. Their actions, Paul alleges, sunk the project’s market value from $130M to $26M. The defendants have not yet responded to Paul’s allegations.

Read More: Logan Paul Celebrates “Champ Life” With WWE Belt Thirst Traps

Logan Paul “Retires” From Boxing

Meanwhile, 2023 also saw Paul “retire” from boxing. However, the claim was disputed by his brother Jake. “I don’t believe that. I don’t know when he’ll fight but he’s just got so much fight in him and he’s going into his athletic prime. I think he’s going to fight again for sure,” Jake told The MMA Hour in November.

Logan announced his retirement days prior during an interview on Fox. “Yeah, I think I’ve retired from boxing. I think I’ve done enough in the sport, going fully undefeated at 25-0. So yeah, I’m gonna be a wrestler now. No more money in boxing. Every company is going broke, so [I’m] a full-time wrestler,” Logan told the show. It echoes comments that Logan made after he won the WWE US Championship. “I think I have to,” Paul said of spending more time on WWE programming. “You’re going to have to watch Raw. You’re going to have to watch SmackDown. I’m going to make some surprise appearances and show these wrestlers who’s the real king,” Paul told ESPN.

Read More: Dillon Danis Returns To Trolling Logan Paul And Nina Agdal, References Adam22 And Lena The Plug’s New Reality Show

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The post Logan Paul Announces CryptoZoo Buyback & Lawsuit appeared first on HotNewHipHop.

Logan Paul Apologizes For CryptoZoo Failure, Plans To Give Out Refunds

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In 2021, Logan Paul officially launched his NFT-game, CryptoZoo. It’s “an autonomous ecosystem that allows ZooKeepers to buy, sell, and trade exotic animals and hybrids. CryptoZoo incorporates cryptocurrency and Non Fungible Tokens (NFTs) into a simple, fun game with familiar mechanics.” Of course, this is according to a since-deleted description on its official site.

Paul is responsible for selling images of animal NFTs within the game. He’s also responsible for subsequently telling players that they’d be able to hatch them and breed the animals. In doing so, they’d be able to win coins in a cryptocurrency called $ZOO.

Logan Paul looks on during a press conference at Madison Square Garden on July 12, 2022 in New York City. (Photo by Mike Stobe/Getty Images)

However, later in 2021, YouTuber Coffeezilla put out a docu-series on his channel as an attempt to expose the game as non-functional. After making millions through the sales of NFTs within CryptoZoo, it seemed as though the podcaster had abandoned the project completely. This is because he seemed to have stopped mentioning it. As a result, many were left to believe it was a scam.

After facing public criticism for CryptoZoo ever since, the new WWE wrestler is finally addressing the situation. He does so in a video posted to his Twitter account on Friday (January 13). He begins by denouncing his attitude towards Coffeezilla’s accusations and denies scamming anyone through the game.

“That’s what I’d do if I was him; milk the sh*t out of this. He’s probably going to, he’s good, he’s very good. The more he says and the more he continues to spread this misinformation that this was any sort of con or scam, the more I have for the lawsuit that I am filing,” he initially said in response on an episode of his podcast, Impaulsive.

In his new update, however, he goes on to detail his plans to give back $1.3 million in rewards. This will go to players who ultimately feel disappointment in the game. “Step 1, Jeff and I are going to burn our ZooTokens, so we have no financial upside in the game and it will add value to holder tokens. Step 2, we want to offer a rewards program for players who are disappointed in the status of the game, so essentially, you’re gonna be able to burn your base egg or your base animal for the mint price, which was 0.1ETH or the equivalent in BNB,” says the 27-year-old.

“I am personally committing 1,000 ETH to this, which is about $1.3 million right now, for players who want to get out. Step 3, obviously finish and deliver the game, as outlined in the white paper by completing the egg bridge from ETH to BSC for base animals and base eggs, completing the marketplace and obviously, completing the release your animals into the wild, to accrue your yield function,” he continues afterwards.

Paul says there is currently an internal investigation going on. He plans to pursue legal action against “whomever needs to be held accountable.” It will certainly be interesting to hear the findings.

What are your thoughts on the whole CryptoZoo failure? Comment down below. Finally, make sure to stay tuned to HNHH for all of the latest pop culture news and updates.

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Logan Paul Responds To CryptoZoo “Scam” Accusations

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Logan Paul has responded to YouTuber Coffeezilla’s three-part video series that covers his CryptoZoo NFT project. Paul labeled the videos a “hit piece” and has threatened to take legal action.

In his videos, Coffeezilla breaks down a substantial amount of fraudulent activities and mismanagement of the project.

“You still published a defamatory hit piece, fully knowing that I was innocent, just so you could enrich yourself in your ’10 million dollar studio.’ Sharp! But deeply unethical. Dangerously misleading and illegal,” Paul says in a seven-minute-long response video published on Tuesday.

NEW YORK, NEW YORK – MAY 18: Logan Paul attends 2022 WSJ The Future of Everything Festival at Spring Studios on May 18, 2022 in New York City. (Photo by Steven Ferdman/Getty Images)

He continued: “I suggest you use the money you got from pumping your Patreon to hire a good lawyer. You’re going to need it.”

Paul further denied the allegations by admitting that he “unknowingly” hired several criminals and conmen to develop CryptoZoo.

“You have used my name for views and money,” Logan said. “He is a lopsided journalist with an agenda.”

As for his videos on the matter, Coffeezilla explained that Paul’s team didn’t spend millions on building the game. Instead, they copied a code from FlokiShibX while claiming it to be original.

“People were buying marketing and promises,” he said.

Paul previously described CryptoZoo as a “really fun game that earns you money.”

Since the release of the video, both Paul and Coffeezilla have traded shots on social media. On Tuesday night, Coffeezilla refuted Paul’s claim that he only reached out to him for comment by December 24, 2022. Instead, the YouTuber shared DMs from over a year ago questioning CryptoZoo.

Check out Coffeezilla’s videos as well as Logan Paul’s response below.

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