{"id":23954,"date":"2023-01-12T12:28:40","date_gmt":"2023-01-12T12:28:40","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/youtube-star-logan-paul-apologises-for-cryptozoo-project-failure"},"modified":"2023-01-12T13:00:28","modified_gmt":"2023-01-12T13:00:28","slug":"youtube-star-logan-paul-apologises-for-cryptozoo-project-failure","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/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 – Lesotho. <\/strong><\/span>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 \u201creally fun game that makes you money\u201d.<\/p>\n

But more than a year after its launch, no game has materialised and Paul has apparently abandoned the project. Now, in response to another YouTuber\u2019s investigation into the business, Paul says he wants to \u201cmake this right\u201d.<\/p>\n

CryptoZoo was launched in 2021 after first being discussed on Paul\u2019s podcast Impaulsive. Paul, who has more than 23 million YouTube subscribers, said he had spent \u201cprobably about one million\u201d dollars on developing CryptoZoo, and had a \u201cmassive team behind the project\u201d.<\/p>\n

The CryptoZoo website says it is \u201cundergoing upgrades\u201d. In a now-deleted description, it was described as \u201can autonomous ecosystem that allows ZooKeepers to buy, sell, and trade exotic animals and hybrids.<\/p>\n

CryptoZoo incorporates cryptocurrency and Non Fungible Tokens (NFTs) into a simple, fun game with familiar mechanics\u201d. 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 \u201cbreed\u201d their animal images to create new species and win coins in a linked cryptocurrency called $ZOO. 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\u2019s Discord server has about 500 members. 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\u2019s team has not responded to the BBC\u2019s request for comment. Last month, cryptocurrency scam investigator Stephen Findeisen, known as Coffeezilla on YouTube, began a three-part video series about CryptoZoo, calling it a \u201cscam\u201d.<\/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 \u201cworthless\u201d digital items.<\/p>\n

On Thursday, Paul posted an angry rebuttal video admitting that he made a mistake hiring \u201cconmen\u201d and \u201cfelons\u201d 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. But on Saturday, Paul deleted his video and apologised to the investigator. He also wrote on the CryptoZoo Discord page that he would be \u201ctaking accountability, apologising and coming forward with a plan in the near future\u201d.<\/p>\n

No further details have been given about how Paul plans to either reimburse investors or relaunch CryptoZoo. One 34-year-old US man told BBC News he had spent $40,000 (\u00a333,000) on NFT eggs after hearing Impaulsive.<\/p>\n

\u201cAt first, we all thought the project was experiencing a few hiccups \u2013 but then the way Logan dragged everyone along and then just abandoned it with no words is just wrong,\u201d he said.<\/p>\n

\u201cNow, it seems to me that Logan is only now trying to make amends after the Coffeezilla videos.<\/p>\n

\u201cI don\u2019t want a refund \u2013 I\u2019d like to see the project completed and Logan do what he said at the very beginning.<\/p>\n

\u201cI don\u2019t think it will ever be as big as it could have been \u2013 but I think it\u2019s important that \u2018founders\u2019 do what they promised investors.<\/p>\n

\u201d Paul has also been linked to the failed cryptocurrency coin Dink Doink, which he promoted in June 2021. 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. 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. Correction 9 January 2023: An earlier version of this story incorrectly stated Logan Paul had promoted the cryptocurrency coin SafeMoon \u2013 in fact, this was his brother, Jake.<\/p>\n

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

Africa-Press – Lesotho. 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 \u201creally fun game that makes you money\u201d. But more than a year after its launch, no game has materialised and Paul has […]<\/p>\n","protected":false},"author":84,"featured_media":23953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,246,245,1769],"class_list":["post-23954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-lesotho","tag-lesotho","tag-youtube"],"yoast_head":"\nYouTube star Logan Paul apologises for CryptoZoo project failure - Lesotho<\/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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