NFT
Final 12 months, Logan Paul had introduced the launch of his NFT challenge, known as CryptoZoo.
It was scheduled to launch in September 2021, however to this present day CryptoZoo doesn’t in truth exist.
The web site solely says that it’s nonetheless underneath development and could be present process upgrades to the principle infrastructure of the ecosystem, but it surely has really been at a standstill for months now.
Certainly, nothing has been posted on the official Twitter profile since 28 Might. That is exactly why it’s advised that the implosion of the Terra/Luna ecosystem, ensuing within the collapse of the crypto market, could have performed a key position within the challenge’s failure.
At the moment on Logan Paul’s YouTube channel, which has greater than 23 million subscribers, no reference to the challenge may be discovered.
The CryptoZoo NFT challenge
The concept for CryptoZoo was launched in 2020 throughout an episode of Impaulsive, the comedy podcast hosted by Logan Paul.
The concept was to permit gamers to take part in a enjoyable NFT-based recreation and earn passive earnings.
Logan Paul himself was a promoter of the sport, stating that the workforce had spent six months making “handmade” NFTs that may be the spotlight of the challenge.
In accordance with his phrases, a million {dollars} could be raised to fund the making of the sport and the creation of distinctive NFTs.
Certainly, in 2021 CryptoZoo launched a few of its so-called NFT animals, however the hype instantly turned to disappointment.
But on the time of the launch, NFT eggs of those animals price $2.5 million had been bought.
To accumulate NFT eggs, customers needed to buy in-game ZOO tokens, and as soon as bought, these eggs have been presupposed to hatch at launch in order that their house owners may obtain their animals, breed them, and have them mate.
The challenge’s ZOO token
The ZOO token was launched on the markets as early as July 2021, and simply earlier than the sport’s launch in late August, it hit its peak worth at practically 0.5 thousandths of a greenback.
Nonetheless, already by October it had misplaced virtually all of its worth, solely to rise to 0.25 mills in November, through the peak of the crypto market, and fall again to virtually zero in Might this 12 months.
ZOO at the moment loses 99.9% from its highs, a lot in order that it may be stated that its worth has virtually gone to zero.
In spite of everything, as early as December final 12 months it had fallen to 0.02 thousandths of a greenback, and though it had risen again to 0.03 in January, with the collapse of the crypto markets in Might its worth additionally fell far beneath a thousandth of a greenback.
CryptoZoo’s NFTs
The NFTs initially launched have been merely images that may simply be discovered on the Web after which edited. Furthermore, it proved unattainable to hatch the eggs, obtain the animal NFTs, or get the cash again.
And as quickly as criticism and accusations have been raised, the system went haywire.
Logan Paul stated nothing about this.
The apology
Solely later did Logan Paul break his silence, blaming the principle developer of the challenge who allegedly took the code to Switzerland and refused to return it until he obtained a million-dollar fee.
Logan Paul then said that he acquired concerned with the fallacious individuals who made errors and missteps, and that there was a brand new workforce engaged on the challenge.
The developer, nevertheless, later said that Logan Paul had employed a workforce to create the sport, however then didn’t pay them after which misplaced the code resulting from a failed negotiation.
The challenge to this point seems to be useless, a lot in order that Logan Paul himself has began one other one.
The allegations
The story could not have ended there, as a result of now Logan Paul has been accused of fraud by a number of traders or purchasers who ended up with nothing of their arms after giving him their cash.
There are additionally those that declare that Logan Paul’s profession is now over after this affair, and actually he hardly ever posts on his YouTube channel now.
Even on Instagram, the place he has greater than 24 million followers, he now posts sometimes, whereas he’s nonetheless energetic on Twitter, the place he has 6 million followers.
His Impaulsive podcasts proceed nevertheless.
As of but, he doesn’t look like underneath indictment by authorities, however it’s onerous to consider he can keep away from it. The truth is, a number of celebrities have already been punished for selling crypto scams, and at this level it’s to be believed that eventually they could goal him as properly.
