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Neighborhood members have reacted to YouTuber Logan Paul’s buyback announcement, delivering on his year-old promise to refund the disgruntled buyers of his nonfungible token (NFT) venture CryptoZoo.
The NFT venture was alleged to be a play-to-earn (P2E) recreation that lets gamers purchase, promote, breed and commerce animals with crypto. The YouTuber introduced the venture in August 2021, however the recreation was by no means launched. This sparked allegations of fraud and led to a class-action lawsuit in opposition to the superstar.
All through the controversy, a number of commentators called out Paul to make the buyers complete. They’ve additionally stored a watchful eye on the progress since Paul promised refunds nearly a 12 months in the past.
On Jan. 4, Paul lastly shared an internet site that lets the NFT holders take part in a $2.3-million buyback program, the place Paul would repurchase the NFTs at their authentic worth. In accordance with the YouTuber, claims may be submitted on the web site via Feb. 4.
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Whereas the information appears constructive for many who purchased the NFTs, some imagine there’s an ulterior motive behind Paul’s transfer. YouTube sleuth Stephen Findeisen, higher often known as “Coffeezilla,” posted on X (Twitter) to flag a disclaimer on the web site saying that buyback program individuals are “waiving any precise or anticipated claims” in opposition to Paul and CryptoZoo.
Making a video on the Logan Paul state of affairs: i am tremendous blissful a few of the victims will get refunded 1 12 months later.
however let’s not fake there is not ulterior motives. Logan is being crushed in a lawsuit proper now. As normal he is making an attempt to save lots of his personal pores and skin. pic.twitter.com/ESmeE8gP1x
— Coffeezilla (@coffeebreak_YT) January 5, 2024
In the meantime, others celebrated the transfer as a win for the neighborhood. Crypto content material creator Mason Versluis celebrated the truth that Paul is formally refunding CryptoZoo buyers. The content material creator added that mainstream celebrities “can’t simply mess around within the Web3 house with no accountability.”
YouTuber Erling Mengshoel Jr., extra generally often known as “Atozy,” gave a shoutout to commentary channels that held Paul accountable. In accordance with Mengshoel, who has nearly 1.5 million subscribers on YouTube, this wouldn’t have occurred with out them.
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