YouTuber Logan Paul has unveiled a $1.5 million recovery plan to help people who invested in his troubled non-fungible token (NFT) project CryptoZoo.
Paul announced the move in a video shared via Twitter on Jan. 13, in which he reiterated that he no longer intends to sue fellow YouTuber Coffeezilla for defamation of his allegations in a series of critical videos about Paul’s NFT project.
Paul outlined his recovery plan to include three phases. First, he and his manager/CryptoZOO co-founder Jeff Levin will burn their holdings of ZOO tokens so they have “no financial gain” in the game and the tokens will purportedly have a higher value. Second, he claims that he will personally pledge 1,000 Ether.
As part of a rewards program that enables “disappointed” investors to burn their NFTs to get back the original 0.1 ETH ($150) minting price. It’s worth noting that 1,000 ETH was worth that amount when Paul tweeted that he had put $1.3 million into the rewards program.
