CryptoZoo was a failed blockchain game co-founded by the YouTuber Logan Paul. ^{[1] [2]} Launched in 2021, it promised a blend of cryptocurrency and non-fungible tokens within a game. ^[3]

Background

CryptoZoo was marketed as an "autonomous ecosystem" where users could buy, sell, and trade exotic animals and hybrids using non-fungible tokens. Collectors purchased cartoon egg images as NFTs, with the expectation that they could hatch these eggs into randomly chosen animal images. ^[3] The project also introduced a linked cryptocurrency called $ZOO.^{[ citation needed]}

Despite raising millions of dollars by selling NFTs and crypto coins, CryptoZoo failed to deliver on its promises. ^{[4] [5]} A project roadmap outlined various games incorporating the animal NFT images, but none of these features materialized, and no playable game has been published.^{[ citation needed]}

Logan Paul initially promoted CryptoZoo as a "really fun game that makes you money". ^[6] He claimed to have spent around one million dollars on developing the project, emphasizing the massive team behind it. ^[3] However, after the initial hype, Paul stopped discussing CryptoZoo and seemingly abandoned the project. ^[7]

Investigation and apology

Cryptocurrency scam investigator Stephen Findeisen (known as Coffeezilla on YouTube) exposed CryptoZoo as a scam. ^{[8] [3]} In response, Logan Paul posted an angry video, admitting mistakes in hiring "conmen" and "felons" for the project. ^[3] He threatened to sue the investigator but later deleted the video and apologized. ^[3]

Class-action lawsuit

A class-action lawsuit was filed against Logan Paul, alleging that CryptoZoo was a "fraudulent venture." ^[2] The lawsuit accused Paul and his associates of taking millions of dollars' worth of participants' cryptocurrency through the project.^{[ citation needed]}

References