Logan Paul faces backlash after declaring $2.3m refund for CryptoZoo NFTs

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Tom Kherkher, a YouTuber and proprietor of the Legal professional Tom and Associates legislation agency, says Logan Paul’s announcement to purchase again CryptoZoo NFTs is full of a ‘bunch of inaccuracies.’

In an X put up on Jan. 4, Logan Paul introduced a plan to “personally” commit greater than $2.3 million to purchase again non-fungible tokens (NFTs) bought by means of CryptoZoo, a play-to-earn crypto sport centered round NFTs, which didn’t dwell as much as the expectations set throughout its promotion and confronted combined response after the discharge.

Within the newest refund announcement, Paul mentioned claims for the buy-back will be submitted by way of a particular web site till Feb. 8. Nevertheless, it’s unlikely that early supporters will probably be made complete, as the web site states that claimants will get as a lot as 0.1 ETH per eligible NFT from which an eligible NFT was submitted.

Along with that, Paul emphasised that the buyback is “not meant to compensate those that gambled on the crypto market and misplaced,” implying that consumers of the ZOO tokens — an in-game forex that might be used to purchase NFTs — are unlikely to be compensated in any respect. Furthermore, claimants would additionally should conform to waive any “precise or anticipated claims towards Paul,” which suggests promising to not take authorized motion towards him relating to CryptoZoo.

Tom Kherkher, a YouTuber and proprietor of the Legal professional Tom and Associates legislation agency, criticized Paul’s newest refund initiative, saying in an X put up that the influencer’s buyback is a “sneaky trick.”

“It’s [Paul’s statement] is full of a bunch of inaccuracies, misstatements, and fairly frankly only a PR spin.”

Tom Kherkher

Alan Wehbi (also called @doitbigchicago on Twitter) who claims to be the biggest ZOO holder seems to be dissatisfied with Paul’s buyback after discovering out he was blocked by the influencer on the social community.

“I despatched the textual content but when I’m not made complete in 7 days for $ZOO and Egg losses I’m including you to the listing of authorized motion for 2024.”


Nevertheless, Wehbi didn’t specify how a lot he had invested within the ZOO tokens.

This isn’t the primary time Paul has promised to compensate those that misplaced cash within the crypto sport, which, in line with the influencer, was “derailed by unhealthy actors.” In early 2023, the influencer unveiled a $1.3 million restoration plan “for upset gamers” who contributed to CryptoZoo. It’s unclear if Paul made any compensations in any respect since his first announcement final 12 months.

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