By CryptoNews - 3 months ago - Reading Time: 3 minutes
CryptoZoo Investors Offered Refunds a Year After Promised by Logan Paul
Source: a video screenshot, Logan Paul / YouTubeYouTuber Logan Paul is offering refunds for the never-released CryptoZoo NFT game – if he deems the NFTs eligible “in his sole discretion.” Also, former owners relinquish all right to sue.
Announced in 2021, CryptoZoo was supposed to be a play-to-earn (P2E) game where players would buy, sell, breed, and trade exotic animal NFTs with crypto.
“I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price,” Paul said in a Twitter post.
Eligible NFTs do not include Hybrid animal NFTs.
However, per the terms and conditions:
“Any NFTs submitted for the Buy-Back that PAUL in his sole discretion deems ineligible pursuant to this provision will not be returned.”
The game will not be released, Paul added, stating that he personally spent $400,000 on it and “never made a single penny from the project, period.”
He has committed more than $2.3 million to buy back the NFTs, he wrote, from every person who intended to play CryptoZoo.
“The buy-back is not intended to compensate those who gambled on the crypto market and lost,” he said.
Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at https://t.co/XIQzLAGKiG. Claims can be submitted through this site… pic.twitter.com/VMPDHvdXkq
— Logan Paul (@LoganPaul) January 4, 2024
Paul reiterated that CryptoZoo was sabotaged by bad actors who stole money from it. He claims that an extensive investigation has confirmed this.
Subsequently, he has filed a lawsuit in federal court in the US against CryptoZoo lead developers Eduardo Ibanez and Jake Greenbaum.
0.1 ETH per NFT
The buy-back is happening at EGGNFTBUYBACK.COM. Claims can be submitted until February 8.
Submissions will be reviewed for eligibility after the close of that window, the website says.
“Shortly after the close of the submission window, 0.1 ETH per eligible NFT will be sent to each wallet address from which an eligible NFT was submitted […] and at that time you will no longer own or have any possessory interest in the NFT that was returned.”
0.1 ETH is currently worth $224.
Source: etotbjdn3ex.typeform.com/EggNFTBuyBackThe form requires claimants to submit Know Your Customer (KYC) information. They’ll also need to provide information about their NFTs and the addresses holding them.
Also, the claimants will have 30 days from the date of the email sent to them to submit their eligible NFTs to the provided deposit addresses.
Besides sending them to the provided addresses, claimants mustn’t move their NFTs for any reason, per the website.
Can’t Sue Logan Paul
Before filling the form with personal and NFT info, owners will need to accept the terms and conditions.
By doing so, they “acknowledge and agree that you are waiving any actual or anticipated claims against” Paul and any related person, group, or service.
This means that they can’t ask for any monetary or equitable relief connected to CryptoZoo.
“You further acknowledge that the Buy-Back does not constitute an admission by PAUL of your legal entitlement to any amount, nor does it constitute an admission of any responsibility in connection with any actual or anticipated claims relating to CryptoZoo.”
Meanwhile, CryptoZoo (ZOO) token is down 99.8% from its all-time high.
Read more: Logan Paul Under Fire: CryptoZoo NFT Buyers Still Waiting for Refunds Six Months Later
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Original source: CryptoNews