Logan Paul, a prominent YouTuber, recently announced a buyback program for his nonfungible token (NFT) project, CryptoZoo, which was initially proposed as a play-to-earn game allowing players to buy, sell, breed, and trade animals using cryptocurrency. Announced in August 2021, the game's non-release sparked allegations of fraud and led to a class-action lawsuit against Paul. The buyback program, announced on January 4, involves a $2.3 million fund where Paul will repurchase the NFTs at their original price. Claims can be submitted through February 4.
This move, however, has been met with skepticism. Some community members, including YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” suspect an ulterior motive. They point to a disclaimer on the buyback program’s website, where participants are required to waive any actual or anticipated claims against Paul and CryptoZoo.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
