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Members of the community have responded to YouTuber Logan Paul’s announcement regarding a buyback, fulfilling his year-old commitment to reimburse dissatisfied investors of his nonfungible token (NFT) initiative, CryptoZoo.
The NFT venture was intended to be a play-to-earn (P2E) game allowing players to buy, sell, breed, and trade animals using cryptocurrency. Paul introduced the project in August 2021, but the game was never launched. This led to accusations of fraud and resulted in a class-action lawsuit against the influencer.
Community member criticizing the images on Paul’s NFT project. Source: X
During the ongoing controversy, numerous commentators urged Paul to compensate the investors. They have also monitored the situation closely since Paul pledged refunds nearly a year ago.
On January 4, Paul finally unveiled a website that enables NFT holders to engage in a $2.3-million buyback initiative, where Paul would reacquire the NFTs at their initial price. As per the YouTuber, claims can be submitted on the site until February 4.
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While the announcement appears favorable for those who purchased the NFTs, some suspect there may be a hidden agenda behind Paul’s actions. YouTube investigator Stephen Findeisen, known as “Coffeezilla,” posted on X (Twitter) to highlight a disclaimer on the website indicating that participants in the buyback program are “waiving any actual or anticipated claims” against Paul and CryptoZoo.
Conversely, others hailed the decision as a victory for the community. Crypto content creator Mason Versluis expressed appreciation for Paul officially refunding CryptoZoo investors. He remarked that mainstream celebrities “can’t just play around in the Web3 space with no accountability.”
YouTuber Erling Mengshoel Jr., widely recognized as “Atozy,” acknowledged commentary channels that held Paul accountable. According to Mengshoel, who boasts nearly 1.5 million subscribers on YouTube, this outcome would not have been possible without their efforts.
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