Cryptozoo: Logan Paul’s NFT project

Last year, Logan Paul had announced the launch of his NFT project, called CryptoZoo.

It was scheduled to launch in September 2021, but to this day CryptoZoo does not actually exist.

The website just says it’s still under construction and will be upgrading the main ecosystem infrastructure, but it’s actually been idle for months now.

In fact, nothing has been posted on official Twitter profile since May 28. This is precisely why it is suggested that the implosion of the Terra/Luna ecosystem, which resulted in the collapse of the crypto market, may have played a key role in the project’s failure.

At this time Logan Paul’s YouTube channell, which has more than 23 million subscribers, there is no reference to the project.

The CryptoZoo NFT Project

The idea for CryptoZoo was launched in 2020 during an episode of Impaulsive, the comedy podcast hosted by Logan Paul.

The idea was to let players participate in a fun NFT-based games and earn passive income.

A promoter of the game himself, Logan Paul stated that the team had spent six months creating “handcrafted” NFTs that would be the pinnacle of the project.

According to his words, one million dollars would be raised to fund the production of the game and the creation of unique NFTs.

In fact, in 2021, CryptoZoo launched some of its so-called NFT animals, but the hype immediately turned to disappointment.

But at the time of launch, NFT eggs of these animals worth 2.5 million dollars was sold.

To obtain NFT Eggs, users had to purchase ZOO tokens in-game, and once purchased, these eggs would hatch at launch so that their owners could receive their animals, breed them, and have them mate.

The project’s ZOO token

The ZOO token was launched on the markets as early as July 2021, and just before the game’s launch at the end of August, it reached its peak price of almost 0.5 thousandths of a dollar.

As early as October, however, it had lost almost all of its value, only to rise to 0.25 mills in November, during the peak of the crypto market, and fall back to practically zero in May of this year.

ZOO is currently losing 99.9% from its highs, so much so that it can be said that its value has practically gone to zero.

After all, as early as last December it had fallen to 0.02 thousandths of a dollar, and although it had rebounded to 0.03 in January, with the collapse of the crypto markets in May, its value also fell well below a thousandth of one dollar.

CryptoZoo’s NFTs

The NFTs originally released were simply images that can easily be found on the Internet and then edited. Also, it proved impossible to hatch the eggs, receive the animals’ NFTs, or get the money back.

And as soon as criticism and accusations were raised, the system collapsed.

Logan Paul said nothing about this.

The apology

Only later did Logan Paul break his silence, accusing the lead developer of the project who allegedly took the code to Switzerland and refused to return it unless he received a million payment.

Logan Paul then stated that he got involved with the wrong people making mistakes and missteps and that there was a new team working on the project.

However, the developer later stated that Logan Paul had hired a team to make the game, but then failed to pay them and subsequently lost the code due to a failed negotiation.

The project so far appears to be dead, so much so that Logan Paul himself has started a new one.

Claims

The story may not have ended there, for now Logan Paul has been accused of fraud by several investors or clients who ended up with nothing in their hands after giving him their money.

There are also those who claim that Logan Paul’s career is now over after this affair, and in fact he rarely posts on his YouTube channel now.

Even on Instagramwhere he has more than 24 million followers, he now rarely posts, while still active on Twitterwhere he has 6 million followers.

His Impulsive however, the podcasts continue.

So far, he does not appear to be charged by the authorities, but it is difficult to believe that he can avoid it. In fact, several celebrities have already been punished for promoting crypto scamand at this point it is to be believed that sooner or later they may also target him.