{"id":19700,"date":"2023-01-11T12:54:01","date_gmt":"2023-01-11T12:54:01","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/youtube-star-logan-paul-apologises-for-cryptozoo-project-failure"},"modified":"2023-01-11T13:46:13","modified_gmt":"2023-01-11T13:46:13","slug":"youtube-star-logan-paul-apologises-for-cryptozoo-project-failure","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/youtube-star-logan-paul-apologises-for-cryptozoo-project-failure","title":{"rendered":"YouTube star Logan Paul apologises for CryptoZoo project failure"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>YouTuber Logan Paul has apologised to fans who lost money after investing in his cryptocurrency game, CryptoZoo.<\/p>\n

The 27-year-old encouraged people to buy cryptocurrency collectables for what he called a “really fun game that makes you money”.<\/p>\n

But more than a year after its launch, no game has materialised and Paul has apparently abandoned the project.<\/p>\n

Now, in response to another YouTuber’s investigation into the business, Paul says he wants to “make this right”.<\/p>\n

CryptoZoo was launched in 2021 after first being discussed on Paul’s podcast Impaulsive.<\/p>\n

Paul, who has more than 23 million YouTube subscribers, said he had spent “probably about one million” dollars on developing CryptoZoo, and had a “massive team behind the project”.<\/p>\n

The CryptoZoo website says it is “undergoing upgrades”.<\/p>\n

In a now-deleted description, it was described as “an autonomous ecosystem that allows ZooKeepers to buy, sell, and trade exotic animals and hybrids. CryptoZoo incorporates cryptocurrency and Non Fungible Tokens (NFTs) into a simple, fun game with familiar mechanics”.<\/p>\n

The project sold images of cartoon eggs as NFTs, with the promise that collectors would be able to hatch them into randomly chosen animal images.<\/p>\n

Collectors would then be able to “breed” their animal images to create new species and win coins in a linked cryptocurrency called $ZOO.<\/p>\n

In a since-removed project roadmap, many games were promised in 2022 that would incorporate the animal NFT images but no playable features were delivered.<\/p>\n

It is not known how many investors CryptoZoo has, but the project’s Discord server has about 500 members.<\/p>\n

However, after selling millions of dollars worth of NFTs and crypto coins, Paul stopped talking about CrytpoZoo and seemingly abandoned the project.<\/p>\n

Paul’s team has not responded to the BBC’s request for comment.<\/p>\n

Last month, cryptocurrency scam investigator Stephen Findeisen, known as Coffeezilla on YouTube, began a three-part video series about CryptoZoo, calling it a “scam”.<\/p>\n

The American spoke to investors around the world who claimed to have spent hundreds, sometimes thousands of dollars on CryptoZoo items and were angry at Paul.<\/p>\n

In his videos, that have had nearly 18 million views, Coffeezilla accused Paul of scamming investors and abandoning them after selling them “worthless” digital items.<\/p>\n

On Thursday, Paul posted an angry rebuttal video admitting that he made a mistake hiring “conmen” and “felons” to run his project, but denied the failures were his fault.<\/p>\n

He accused Mr Findeisen of getting facts wrong and threatened to sue him.<\/p>\n

But on Saturday, Paul deleted his video and apologised to the investigator.<\/p>\n

He also wrote on the CryptoZoo Discord page that he would be “taking accountability, apologising and coming forward with a plan in the near future”.<\/p>\n

No further details have been given about how Paul plans to either reimburse investors or relaunch CryptoZoo.<\/p>\n

One 34-year-old US man told BBC News he had spent $40,000 (\u00a333,000) on NFT eggs after hearing Impaulsive.<\/p>\n

“At first, we all thought the project was experiencing a few hiccups – but then the way Logan dragged everyone along and then just abandoned it with no words is just wrong,” he said.<\/p>\n

“Now, it seems to me that Logan is only now trying to make amends after the Coffeezilla videos.<\/p>\n

“I don’t want a refund – I’d like to see the project completed and Logan do what he said at the very beginning.<\/p>\n

“I don’t think it will ever be as big as it could have been – but I think it’s important that ‘founders’ do what they promised investors.”<\/p>\n

Paul has also been linked to the failed cryptocurrency coin Dink Doink, which he promoted in June 2021.<\/p>\n

Paul first became an internet celebrity by uploading short video clips to the video-sharing platform Vine, before focusing on YouTube.<\/p>\n

In 2017 he faced a huge backlash over a video which showed the body of an apparent suicide victim in Japan.<\/p>\n

In recent years Paul and his brother Jake, also a YouTuber, have become professional boxers with high profile and lucrative fights against other YouTubers or retired martial artists.<\/p>\n

Paul also launched a brand of drinks called Prime and has recently signed a deal to perform in the World Wrestling Entertainment series.<\/p>\n

Correction 9 January 2023: An earlier version of this story incorrectly stated Logan Paul had promoted the cryptocurrency coin SafeMoon – in fact, this was his brother, Jake.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. YouTuber Logan Paul has apologised to fans who lost money after investing in his cryptocurrency game, CryptoZoo. The 27-year-old encouraged people to buy cryptocurrency collectables for what he called a “really fun game that makes you money”. But more than a year after its launch, no game has materialised and Paul has […]<\/p>\n","protected":false},"author":84,"featured_media":19699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,237,234],"class_list":["post-19700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nYouTube star Logan Paul apologises for CryptoZoo project failure - Botswana<\/title>\n<meta name=\"description\" content=\"YouTuber Logan Paul has apologised to fans who lost money after investing in his cryptocurrency game, CryptoZoo. 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