Coffeezilla, a well-known YouTube personality, recently joined Joe Rogan and talked about his work and some of the most significant stories he has ever worked on.
Among them was the Logan Paul Cryptozoo Saga, which Coffeezilla claimed to be one of the most remarkable stories he had ever reported.
According to Coffeezilla, the Cryptozoo Saga was a classic example of influencer greed. Logan Paul initiated an NFT project that assured a fun blockchain game which would allow players to earn money passively. The project was abandoned, leaving investors disheartened and disgruntled.
See Also: Logan Paul Hit With Class Action Lawsuit Over Role in CryptoZoo Scam After Coffeezilla Investigation
The Cryptozoo project proposed that users purchase NFT eggs and hatch them into animals which would earn them passive Zoo tokens. The concept immediately captivated investors, and Paul's marketing skills enabled him to raise $3 million dollars in NFT sales and tens of millions of dollars in token sales.
When the eggs were ready to hatch, half of them failed to work, and investors were not given the tokens they were promised, said Coffeezilla. It was subsequently discovered Paul allegedly enlisted the services of criminals who were selling some of the tokens on the backend, and he had not been actively involved in the project for a prolonged period.
In his video on the Cryptozoo Saga, Coffeezilla highlighted the scheme's victims, and Paul responded by threatening to sue him. The negative response to Paul's actions was so extreme that he eventually released a video stating his intention to fix the game and reimburse $1.7 million dollars to anyone who purchased an NFT.
Although Coffeezilla appreciated Logan Paul's effort to repair the game and compensate some of the investors, there were still some problems with his plan. For instance, NFT sales accounted for only a small portion of the overall sales, and those who invested in tokens are unlikely to receive any reimbursement.
Overall, Coffeezilla's coverage of the Cryptozoo Saga exposed the hazards of influencer marketing and highlighted the cryptocurrency market's need for greater transparency.
As more people become involved in cryptocurrency, it is essential to conduct thorough research and be wary of projects that appear too good to be true.
Watch the Clip of the interview here:
Image via PowerfulJRE Youtube account
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