CryptoZoo: Logan Paul wants to offer NFT buyers a buyback option

Social media influencer Logan Paul wants to pay off those duped by the CryptoZoo NFTs, he announced in a lengthy post on Twitter (X). Paul, who has been trying to become a wrestler for several years and even currently holds the title of WWE United States Champion, said he is keeping a promise. CryptoZoo NFT buyers can use the "Egg NFT Buyback" program until Feb. 8 to redeem their NFT's return. Paul himself will provide $2.3 million of his personal assets for this purpose.

After Paul was significantly involved in the development of the play-to-earn game and first presented the project to world audiences in 2021, it has now failed due to obstacles in the legislation. The NFTs already sold are worthless.

Each of these purchased NFTs can now be redeemed for 0.1 ETH - equivalent at the time of writing: $226.

The so-called Hybrid Animal NFTs are not eligible for the program. Investors in the ZOO token would also not be compensated for the demise of the CryptoZoo project. ZOO is currently trading 99.93 percent below the all-time high set in September 2021.

Another catch: Anyone who took advantage of the buyback program thereby assigned all current or future claims against Logan Paul and the CryptoZoo team.

Paul was "deeply disappointed that the game could not be released," as he told his 6.8 million X followers.

The 28-year-old is considered one of the richest social media influencers ever and has according to consistent reports an asset of $150 million - so the CryptoZoo payout shouldn't hurt him too much. Especially since Paul reportedly made millions from CryptoZoo despite its failure.