Logan Paul’s NFT sport ‘CryptoZoo’ is presently embroiled in controversy following a three-part collection by investigative YouTuber, Coffeezilla (actual identify Stephen Findeisen).
Since 17 December, Findeisen has uploaded a three-part collection on Logan Paul’s rip-off blockchain sport, CryptoZoo. The collection dismantles the controversial NFT sport and spotlights the numerous traders who’ve misplaced tens of millions within the apparently defunct venture.
The video collection presently has a mixed view depend of 13.2 million.
This will not be Coffeezilla’s investigation into crypto scams. Stephen Findeisen is a web-based sleuth and YouTuber who focuses on uncovering scams and fraudsters. Over the previous few years, he has been specializing in uncovering scams within the blockchain and NFT house. His channel description has a nugget of knowledge that summarizes his basic ethos. “If you have to ask… it’s probably too good to be true.” At the time of writing, his channel has over 2.1 million subscribers.
His work has earned him a profile within the prestigious New Yorker journal, which painted him as one thing of an unsung hero poking round within the darker aspect of crypto and NFTs. A video collection on the Save the Kids token is well known as his transition to a extra severe, investigative fashion of content material. Videos by Findeisen unfold the phrase concerning the pump-and-dump scheme, in the end dooming it.
As of Tuesday, 27 December (UTC), each Findeisen and Paul have invited one another onto their respective exhibits to debate the controversy.
What Is CryptoZoo?
Logan Paul’s CryptoZoo was billed as an NFT-based sport the place gamers may earn passive revenue. The concept for the venture first appeared in an episode of Paul’s Impaulsive podcast. According to Paul, the crew behind the venture had spent six months making “handmade” animal-based NFTs.
It was Paul’s intention to lift a million {dollars} to create the sport and NFTs. Players may buy NFT “eggs” of the animals, which might be “bred” and minted to create distinctive NFTs on the sport’s launch. To purchase the eggs, gamers needed to buy the sport’s ZOO token
NFT eggs value $2.5 million had been bought on the time of launch. However, by October, ZOO had misplaced virtually all of its worth. Its value has solely dropped since.
The YouTube influencer has beforehand blamed the sport’s developer for its obvious implosion. According to Paul, the developer created a code after which absconded to Switzerland. The developer apparently wouldn’t return the code except Paul paid him a million {dollars}. The venture’s developer disputes this and maintains that he was by no means paid.
CryptoZoo was because of launch in September 2021, however as of in the present day, the venture does not exist. The web site presently says “is undergoing upgrades to the core infrastructure of the ecosystem.”
The website presently says that it’s “still under construction and would be undergoing upgrades to the main infrastructure of the ecosystem.” The venture’s official Twitter profile has posted nothing since 28 May.
Logan additionally seems to have eliminated all references to the venture from his YouTube channel.
This Isn’t Logan Paul’s First Crypto Scam
Logan Paul beforehand tried to pump Dink Doink (DINK), a meme coin that he implied he had no involvement in. It subsequently got here out that Paul had helped create the “character.” In a video and tweet, he described the venture as “the dumbest, most ridiculous shitcoin I’ve ever seen. And that’s why I’m all in.”
According to CoinGecko, there may be 100 quintillion DINK in the marketplace, with every value lower than one trillionth of a cent. Effectively making them completely nugatory.
Disclaimer
BeInCrypto has reached out to firm or particular person concerned within the story to get an official assertion concerning the current developments, nevertheless it has but to listen to again.
