American YouTuber Logan Paul is no stranger to controversy, but his latest project, CryptoZoo, has stirred up an especially chaotic batch of online criticism and intense debates. CryptoZoo is a non-fungible token (NFT) project founded by Logan Paul and designed to let users “trade, breed, collect and battle digital monsters.” It has attracted a lot of attention due to its seemingly outrageous promises and the involvement of Paul, a well-known influencer.
However, CryptoZoo’s roll out has been anything but smooth. After pre-launch hype, crypto and NFT enthusiasts have been struck by a wave of feelings ranging from frustration and confusion to plain disbelief.
One major criticism is that the project does not offer clear information about its purpose and business model. CryptoZoo’s website has been slammed with criticism for its poorly explained whitepaper and a lack of independent peer review. Many have also taken issue with its viral marketing campaign, which has been widely described as “misleading” and “sloppily executed”.
Furthermore, the CryptoZoo team faced a legal threat from the creators of animated science fiction series ‘Rick and Morty’, who argued that the project constituted intellectual property infringement. Although CryptoZoo claimed that the team had “cleared all image content for usage” in accordance with copyright law, the case highlighted potential security and legal issues associated with the project.
Another source of criticism has been the distribution model of NFTs associated with CryptoZoo. Many prominent industry leaders have criticized CryptoZoo’s launch auction and limited presale, arguing that they are prone to “whales” and price manipulation.
The CryptoZoo project is beset with controversy, legal issues, and lack of information. These issues have not gone unnoticed, and while Logan Paul’s fame and influence have attracted a lot of attention to CryptoZoo, it is starting to look increasingly like it is a total mess.
