Remember the CryptoZoo NFT scandal? Back in 2021, fans of influencer Logan Paul were promised what basically boiled down to a crypto version of Pokémon. For an entry-level rate of $300, fans could purchase NFT ‘eggs’ which, when hatched, would yield their very own virtual Tamagotchi/Pokémon-type thing along with daily ‘Zoo tokens’ that acted as a type of cryptocurrency that could be sold for real money.
But shortly after its launch in September 2021, it didn’t take long for CryptoZoo to go wrong. The promised ‘handmade art’ was nowhere to be found, and the hatched ‘eggs’ involved unusable pictures of animals with zero mechanisms for yielding the so-called ‘Zoo tokens.’
Like the rest of the cryptocurrency craze, CryptoZoo quickly faded into obscurity until a Coffeezilla investigation last year exposed some shady business practices to the surprise of … literally no one.
But if you were one of the many, many people left out of pocket from Paul’s CryptoZoo, he’s now giving you an offer.
In a lengthy statement on Twitter on Jan. 4, 2024, Paul said he’s “personally committing” more than $2.3 million to buy back any NFTs from the game he deems “eligible.” However, an even lengthier terms and conditions page suggests this might not be as easy as it looks.
For one, the whole deal is a bit rushed, as you only have until Feb. 8 to submit your NFTs for buyback (at a rate of 0.1 ETH per eligible NFT), but Paul will have “sole discretion” over whether what’s submitted is eligible for a refund.
But the real nail in the coffin here is that, per the terms and conditions for EGGNFTBUYBACK.COM, you can only get a refund provided you don’t have any “actual or anticipated claims against Paul” — which, in layman’s terms, means that if you want to try and sue Paul or have already tried to do so, you’re automatically ineligible for a refund.
Still, Paul maintains in his statement that he’s just as much a victim as the rest of his customers, as he blames CryptoZoo’s downfall on certain “bad actors” — but does adding this caveat to his refunds harm his credibility?
If you participated in CryptoZoo and have information about the buybacks, contact us at [email protected]. We want to hear your story.