Logan Paul Fights Back, Says CryptoZoo Project Wasn’t A Scam

cryptonews.com:

YouTuber Logan Paul addressed accusations regarding his infamous CryptoZoo non-fungible token (NFT) in a March 27 documentary titled “5 Months with Logan Paul,” stating in the film that the NFT project was not a scam.

The documentary sheds light on Paul’s perspective on the project and features journalist Graham Besinger detailing the demise of the NFT project and the backlash and allegations that sprung up.

Besinger alleged in the documentary that Logan Paul’s CryptoZoo NFT was a mess that caused huge losses for people, leading to a spate of allegations and threats against the YouTuber.

Paul admitted that while the allegations had an element of truth, the NFT project was not a scam.

“Everything you just said has an element of truth to it,” he said. “Here’s the problem. What you just described isn’t a scam. I took on a project that I was simply incapable of handling at the time.”

He further disclosed that he didn’t profit from the project but suffered a loss of “half a million dollars.”

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YouTuber Logan Paul argues CryptoZoo ‘isn’t a scam’ in new documentary

— Whalefud.eth (@WhaleFUD) March 28, 2024

Meanwhile, the YouTuber noted that the failure of CryptoZoo led him to have suicidal thoughts.

“For the first time in my life I was having suicidal thoughts,” he stated. “I was just spiraling, Graham. Spiraling. I was crying, like sobbing … I felt weak, which is uncommon for me. I’m supposed to be the leader.”

Logan Paul first announced the CryptoZoo NFT project on his YouTube podcast in August 2021.

The project was inspired by Pokémon but was designed as a fun game where collectors could purchase eggs and breed them to produce rare NFTs.

And while the project generated a lot of excitement, it never really took off. This was after