YouTuber Logan Paul has unveiled a $1.5 million restoration plan for the individuals who invested in his beleaguered NFT venture CryptoZoo.
Asserting the transfer in a video shared by way of Twitter on Jan. 13, Paul reiterated that he’s not seeking to sue fellow YouTuber Coffeezilla for defamation over accusations he made in a crucial sequence of movies on Paul’s NFT venture.
My 3-step plan for CryptoZoo, together with a $1.3M rewards program for dissatisfied gamers.
Thanks, @coffeebreak_YT pic.twitter.com/xFX017UHoc
— Logan Paul (@LoganPaul) January 13, 2023
As such, Paul emphasised that he’s as an alternative targeted on fixing CryptoZoo, delivering on the roadmap and making issues proper with followers and buyers:
“The very fact is, suing Coffeezilla isn’t going to assist Cryptozoo holders so I do must focus my consideration the place it needs to be, which is on followers and supporters of me.”
Paul outlined that his restoration plan consists of three levels. Firstly, he and his supervisor /CryptoZOO co-founder Jeff Levin will burn their ZOO token holdings in order that they “don’t have any monetary upside” within the sport, and in order that the token supposedly has extra worth.
Secondly, he claimed that he’ll personally commit 1,000 Ether (ETH) as a part of a rewards program that permits “dissatisfied” buyers to burn their NFTs to get the preliminary 0.1 ETH ($150) mint worth again.
Response tweet from @CryptoKingBob: Twitter
It’s value noting that on the time of Paul’s tweet, 1,000 ETH was value round $1.3 million, nevertheless the worth of ETH — amongst a bunch of different high belongings — has since been on a hefty pump that has seen its worth achieve 10.2% over the previous 24 hours to sit down at roughly $1,548.
Lastly, Paul famous that the third stage is to “clearly end and ship the sport as outlined within the whitepaper,” which was initially touted as a play-to-earn sport that concerned breeding animal NFTs to obtain ZOO token rewards.
“To say I’m dissatisfied in how this was dealt with internally is an understatement, there’s a full inside investigation happening together with an audit and we’re going to pursue full authorized motion for whoever must be held accountable.”
“If any cash is recovered within the course of, it’ll go proper to the group,” he added.
The group response to Paul’s Twitter submit was combined, with some tipping their hats to Paul’s efforts, whereas others continued to pile on with additional criticism.
Associated: NFTs have a brighter future on Instagram than on Twitter
Customers similar to @tharaxis famous that whereas criticism of Paul and CryptoZOO was legitimate, “all of this appears very constructive and whereas it took some time this undoubtedly deserves a ‘good job’. Hopefully it stays that approach.”
Whereas the founder and CEO of Genius Group Roger Hamilton added: “‘i’m sorry’ and compensation to those that misplaced cash. How nice if all CoffeeZilla investigations would find yourself this fashion.”
On the opposite finish of the spectrum, well-liked NFT and crypto dealer @crypto_bitlord7 said: “However let’s be trustworthy. You didn’t care till it began to influence your status.”
“You then threatened to sue. And while you realized it backfired, you began this to attempt to please folks. You might be as pretend because it will get. A real Larp,” they wrote.
He STILL didn’t take any accountability!
He mentioned “I’m sorry for the way issues unfolded” he refuses to consider he’s at fault.
Moreover, he mentioned “full investigation on WHOEVER is accountable”
And now he’s treating coffeezilla like his greatest pal but he doesn’t comply with him
— Youssof Altoukhi (@Youssofal_) January 13, 2023