Logan Paul has initiated the acquisition of NFTs from individuals who endured monetary losses in his unsuccessful crypto game.
The YouTube star declared the launch of CryptoZoo in 2021, yet it never came into being, despite devotees investing millions in game tokens.
Paul, age 28, has specified that he will repurchase the tokens, so long as those who accept his offer do not take legal action against him.
It is improbable that fans will be refunded all of their money.
CryptoZoo was designed as a game in which participants could buy, sell, and propagate virtual animals using cryptocurrency.
At the time, Paul was advocating the purchase of cryptocurrency collectables as a way to partake in what he described as "a really fun game with potential monetary rewards".
Despite having sold millions of dollars of NFTs and crypto coins, he seemed to have discontinued discussion of CryptoZoo and left the project.
In the wake of a fellow YouTuber's inquiry into the project in December 2022, Paul expressed remorse, declaring that he was eager to "rectify the situation".
After a 12-month period, he has declared the initiation of the repurchase procedure that he claims will set him back $2.3 million (£1.8 million).
He will reimburse players 0.1 Ether, a cryptocurrency, for each NFT purchased.
In September 2021, 0.1 Ether was the cost of the NFTs.
Despite its initial surge in value, CryptoZoo NFTs have led to a 37% drop in monetary worth, resulting in financial losses for fans.
Paul wrote on X (formerly known as Twitter): "This buyback is a means to compensate those who had planned on participating in CryptoZoo."
"The buy-back is not designed to give a return to those who took risks in the crypto market and got unfavorable outcomes."
He made it clear that it was not meant to be used as an investment.
The refund is available until 8 February 2024, however, part of this must be accepted on the understanding that no legal action will be taken against Paul or anyone associated with CryptoZoo.
An investor who put $40,000 into NFTs informed the BBC last year that they would not accept a reimbursement and instead preferred Paul to accomplish the project to make sure that the game and its associated NFTs delivered on the hype.
The 35-year-old declared that, although it will not likely reach its full potential, it is necessary for founders to execute what they committed to investors.
Paul had previously advocated for the cryptocurrency coin Dink Doink in June 2021, but the coin's value subsequently plummeted, rendering it valueless.
He later expressed to the New York Times that he felt remorseful for raising awareness of the coin without making known that he was a part of its formation and held a financial interest in the digital currency.
He asserted that he had not been as conscientious as he ought to have been.
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