News JVTech Logan Paul is at the center of a new controversy after promoting a game that turns out to be a massive scam
While the famous YouTuber promoted a game in 2021, it is now at the center of a scandal surrounding him. Targeted by accusations from a fellow YouTuber, Logan Paul must now respond to the users of this famous game whose promises seem to have not been kept.
CryptoZoo the goose that lays the golden eggs by Logan Paul
If you haven’t heard of this famous CryptoZoo, you surely haven’t missed anything except a scam… Allegedly an online platform that allows users to buy, sell and collect virtual exotic animals like Pokémon, CryptoZoo seems to have fails to keep its promises.
Without revolutionary gameplay, the game relied on blockchain (technology behind cryptocurrencies and NFTs) to innovate. This allowed players to buy “Zoo Coins”, the currency used on the platform, to buy eggs from random animals in NFT. The ultimate goal: to breed them to get rare hybrid species in NFT that can bring in big bucks.
The game quickly became a talking point as it relied on the support of Logan Paul and his community of more than 23 million subscribers. As a result, CryptoZoo grew exponentially in 2021 when the NFT craze was still in full swing. Overall, the game grossed $2.5 million in its launch year from NFT Egg sales alone.
Even more staggeringly, Zoo Coin’s capitalization (total invested in the currency) is estimated at $2 billion. The only problem, despite its pharaonic characters, the game is still unplayable.
The game promoted by Logan Paul ended up being a huge ‘scam’
After these millions of dollars have been collected, it is time to take stock. In a YouTube video, his counterpart, Coffeezilla, published an investigation showing point by point why CryptoZoo is a “massive scam.”
Throughout this story, many people who trusted Logan Paul invested money in cryptocurrencies and NFTs from the app without knowing much about the crypto industry and the volatility that characterizes it. Such is the case of a user interviewed by Coffeezilla who has almost $7000 in this “game”.
If Logan Paul is not to blame for the fall in value of bitcoin and the crypto market, however, he is responsible for the fact that the application he is promoting is still not available. The same applies to services sold by CryptoZoo, which can therefore not be honored. For example, the famous eggs in NFT are useless for now: “It’s just a photo,” says another player.
In addition, users will not verify their investment, since, according to Logan Paul, one of the responsible developers of the project “fled to Switzerland with the source code” and would demand a ransom of one million dollars in exchange for the game.
YouTuber Coffeezilla, meanwhile, has hinted at another version, in which he reports that none of the “company’s 30 employees” received a salary during the game’s development. It is worth remembering that CryptoZoo’s case is not an isolated one.
With the explosion of Play to Earn fueled by NFTs and cryptocurrencies, several shady projects have emerged. These have capitalized on the surge of interest surrounding the crypto ecosystem to generate significant returns. But after the speculative bubble burst, many of his projects remained in the concept stage and let many investors down.
