Logan Paul presents a $ 1.5 million recovery plan for CryptoZoo

YouTuber Logan Paul has unveiled a $ 1.5 million recovery plan for people who invested in his undeveloped NFT project CryptoZoo.

Announcing the move in a video posted on Twitter, Paul reiterated that he was no longer going to sue his fellow YouTuber @Coffeezilla for defamation over allegations he made in a series of critical videos about Paul’s NFT project.

«The fact is that a lawsuit against Coffeezilla won’t help the owners of Cryptozoo, so I need to focus my attention where it should be, which is on my fans and supporters.»

Paul said that his recovery plan consists of three stages. First, he and his manager/co-founder of CryptoZOO, Jeff Levine, will burn their ZOO token holdings so that they «have no financial potential» in the game and so that the token has more value.

Secondly, he stated that he would personally allocate 1000 ethers (ETH) as part of an incentive program that allows «disappointed» investors to burn their NFTs to get back the original mint price of 0.1 ETH ($ 150).

Finally, Paul noted that the third stage is to «complete and release the game as outlined in the project’s technical description and roadmap,» as the project was originally advertised as a «play to earn» game and promised to provide the ability to breed NFT animals to receive rewards in the form of ZOO tokens.

The community’s reaction to Paul’s Twitter post was mixed: some supported Paul, while others continued to criticize him.

Popular trader @crypto_bitlord7 stated: «But let’s be honest. He didn’t care until it started to affect his reputation. Then [спільнота] threatened to sue. And when he realized that this would have unpleasant consequences, he started all this to try to calm people down. He is as fake as it gets.»