Degen Zoo, an NFT game modeled on the failed Crypto Zoo project by Logan Paul, is flourishing with over 115 wallets registered to join the game in just under 30 days of development. This success comes after the YouTube influencer allegedly rugged Crypto Zoo, citing the need for multiple years and millions of dollars of funding required to develop the project. But what was Crypto Zoo all about?
Image Credit: Slate.com
What is Crypto Zoo?
In August 2021, Logan Paul started using his massive online following to advertise Crypto Zoo. Paul described it as “a really fun game that makes you money.” Inspired by Axie Infinity, buyers could buy NFTs to breed exotic animals that offered different yields in the game’s ZOO token. The project minted out 10,000 NFTs for an approximate total of $4m.
As time went on, development stalled and the game never actually came out. The floor of the collection currently sits at .065 eth.
Image Credit: NFTnow.com
Another media personality and self-described scam detective, Coffeezilla, published a 3-part expose on YouTube about the project in late 2022. Coffeezilla accused Paul of using his platform to exploit his followers. Paul responded by promising to refund proceeds from the project. He again blamed the project’s failure on massive amounts of time and money required to produce the game.
On Joe Rogan’s podcast this week, however, Coffeezilla stated that Logan Paul has not refunded any of the money yet.
What is Degen Zoo
As a troll of Logan Paul, Cristoph Zaknum set out to build a game modeled on Crypto Zoo’s concept in just 30 days. In Degen Zoo, players burn NFTs of 120 different endangered species for financial gain to simulate capitalism’s impact on animal extinction. It’s a complex game, however in a testament to Zaknum’s ability as a Web3 builder, he accomplished his goal. He managed to publish Degen Zoo to testnet hours before the 30 day deadline.
During development, Zaknum posted daily updates of his progress and raised over $700m in pledges from over 115k unique wallets. The cherry on top though was Zaknum’s promise to donate all proceeds from Degen Zoo to help protect endangered species, a stark contrast to the YouTube star’s refusal to refund the money he gained from Crypto Zoo.
Oftentimes, we’re reminded that celebrities are here to take from Web3. They come, extract value, and leave. Logan Paul fits this pattern with his failed Crypto Zoo project. By donating the proceeds of Degen Zoo to charity, Cristoph Zaknum personifies exactly who we should be supporting as a community instead.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
Evan
Evan is a New Hampshire-based real estate developer interested in how Web3, specifically the metaverse, DeFi, and play-to-earn gaming, will provide new opportunities for passive income investors. He enjoys skiing, spending time with his family, and endlessly scrolling Crypto Twitter.
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