Logan Paul under fire for promoting NFT game scam CryptoZoo

The non-fungible token (NFT) gaming sector has grown in popularity over the past year. However, this popularity has also come with limitations, as scams in the sector have been on the rise. CryptoZoo, an NFT game that Logan Paul promoted, is raising concerns as players accuse the developers of running a scam.

CryptoZoo NFT game could be a scam

Logan Paul was a major promoter of the CryptoZoo NFT game. He described the games as a fun way of earning money. Through this game, a player can purchase zoo coins that can be used to buy NFT eggs that will hatch into animals.

When players breed these animals, they create hybrids that can later be sold to earn more zoo coins. The rarer a hybrid is, the more zoo coins a player will earn and the more money they will make.

The offerings made by this game appear good in theory, as it allows gamers to earn passive income as they have fun. However, people have raised concerns over the ability of the game to fulfill the promises it made to the players, as it has never been fully developed to a playable state.

Users have spent up to $500,000 investing in the game with the hope that they will earn from the platform. During the first day of these NFTs being listed, users bought $2.5 million worth of eggs. The purchases happened despite the game not being launched. The high interest in these NFTs triggered gains for the zoo coin currency, which hit a market capitalization of more than $2 billion before the launch.

One of the victims who spent money on this NFT game also complained that it was impossible to withdraw zoo coin yields despite the game’s launch. Moreover, the yield feature does not work to date.

Therefore, the money users channeled to this NFT gaming platform during its early days cannot be accessed. Additionally, the investors who bought these NFTs using cryptocurrencies such as Ethereum could not hatch the NFT eggs they bought. The CryptoZoo support team alleges that the service is down.

Logan Paul promoted the project

Logan Paul was a major promoter of this project. However, he remained silent during the fiasco amid speculations that he might have left the project. When he addressed the issue, Logan Paul said that the situation was caused by the game code being held hostage by a developer who wanted to be paid a $1 million ransom.

However, when the developer in question was asked to respond to the allegations, he admitted that he was indeed holding the code hostage. However, he said he was holding on to the code until Logan Paul paid money owed to the development team that worked on CryptoZoo.

While responding to a report by Coffeezilla on the game, Paul said that the claims were “simply not true” and that he would be explaining everything that happened with CryptoZoo in an episode of Impaulsive on January 3. He said that during the episode, he would unmask the people that needed to be held accountable.