Logan Paul is again within the highlight once more, however for the flawed causes. His NFT venture, CryptoZoo, seems to have been a rip-off from the beginning. That is in accordance with a complete investigation of the venture by Stephen Findeisen, popularly referred to as Coffeezilla.
The favored YouTuber has made a reputation for himself by exposing scams and faux gurus to enlighten his followers. And for this, he has earned an enormous viewers, at present boasting over 2 million followers on his YouTube channel.
Most of his investigations focus on monetary scams, and his newest coated CryptoZoo, an NFT venture by Logan Paul. In a three-part sequence operating over one hour, he uncovers the wonderful particulars of the venture and what number of buyers misplaced tens of millions after what was promised did not be delivered.
In line with Logan Paul, CryptoZoo was a “actually enjoyable game that earned you cash.” It featured unique animals that could possibly be purchased, offered, and traded.
CryptoZoo had an in-game forex dubbed “Zoo.” Gamers would use Zoo cash to purchase egg NFTs that may hatch into animals. When you hatch the eggs, you may breed the animals to get hybrids. The rarer the hybrid, the extra Zoo cash you earn. In different phrases, the game provided gamers a method to earn passive revenue. Lengthy story brief, they tried to repeat CryptoKitties, as Coffeezilla found.
The core staff was made up of 4 people: Logan Paul, the man with the concept, Jeff, who was his supervisor, Jake, higher referred to as Crypto King, who served because the advisor, and Eddie Ibanez, who was in command of growth.
It Was All About The Cash For The CryptoZoo Group
From their personal chats, which Coffeezilla managed to acquire, the fellows have been involved about cash from the beginning. Nonetheless, they have been afraid of falling on the flawed facet of the SEC in the event that they did a presale. So, they opted to launch the game with out anybody understanding and mint their tokens every week earlier than asserting the official launch.
And that is the place the difficulty started. What would ensue was treachery and betrayal, which left the venture in limbo. Sadly, it was the buyers who had pumped tens of millions into the venture who have been left holding the brief finish of the stick. Logan used his affect to promote the concept to his viewers. Many who believed him obtained into the venture, the place nothing works.
A yr after the venture launched, many buyers are nonetheless holding onto their Zoo tokens, hoping the staff delivers on what it promised. On his half, Logan blames a few of his core staff members for the failure of the venture. He promised to reveal his facet of the story on January 3, 2023, on his podcast.
That mentioned, as Coffeezilla would discover out, Paul wasn’t the one one responsible for this mess. Jake the Crypto King was liable for rug pulling the venture and allegedly profiting to the tune of $6 million. And Ibanez did not pay builders, who ended up holding the code. To make issues worse, the man was a con. He had created a pretend picture for himself, managing to idiot even some very influential people.
