UFC champion and celebrity Conor McGregor's crypto token failed to launch after raising only 39% of its minimum fundraising target during its 28-hour presale period that ended Sunday.
The Real World Gaming DAO, which developed the token, only secured $392 315 USDC (USDC) from 668 bidders. This is far less than the $1 008,000 requirement for the launch.
Following the auction's close, RWG The following is a list of the most recent and relevant articles. on X that it "didn't hit" its minimum raise, adding that all the bids would be "refunded in full." McGregor Share This Article the announcement, saying: "Ladies and gentlemen, this is REAL!"
On-chain data shows that all refunds were processed, and a "Settle" batch The deployment of the rwg.eth Around 3:53 PM Eastern, the address is block 22212460. All Tax refunds The USDC was used instead of Ethereum.
Citing "challenging macroeconomic conditions" and the "distracting nature of the meme narrative," RWG told Decrypt that it has decided to "pause and recalibrate" the token's launch.
RWG has confirmed refunds. Decrypt that they are "looking to relaunch it soon."
A statement was shared by Decrypt prior to the launch, the UFC fighter had insisted the launch wasn't "some celebrity-endorsed bullshit token" but rather "a REAL game changer that will improve the crypto ecosystem."
Sealed-bid auction
It is the REAL token that was used. sealed-bid auction Axis Finance provides a price discovery mechanism that allows participants to bid privately on their desired price levels.
Their use of Axis Finance "set a new benchmark" toward "fairness and transparency in token launches," RWG claimed, responding to Decrypt's questions.
After the auction, the system allocated tokens according to bid amount until the maximum was reached. This mechanism establishes the final bid as a clearing price that is uniform for all of the winners.
The method was transparent, reduced volatility post-launch, removed timing benefits, but failed to set a clear price.
Economic reality
The project's initial failure signals waning investor interest in celebrity-backed tokens as the broader crypto market You can also find out more about amid global economic concerns triggered by President Donald Trump's "reciprocal" Tariffs.
It didn't help that the launch's timing coincided with what observers claim as a "prolonged trade war," with U.S. equities seeing record losses After the announcement of tariffs.
The President launched an official meme coin In January, there are concerns over ethics The following are some examples of how to get started: Constitutional conflicts The meme coin market is booming.
According to CoinGecko, the market for meme coins has fallen by 10.9%. Its market cap is now $44.5 billion compared with over $100 billion in the beginning of the year.
In February, Argentine President Javier Milei launched The result is another meme coin fraud charges The following are some examples of how to get started: investor lawsuits.
There had been "market confusion" from "interpreting the token as a celebrity memecoin," RWG told Decrypt. "This framing does not represent the REAL token's true purpose."
McGregor, who has signaled intent to run as President of Ireland in March, had closely aligned with Trump's economic agenda.
Following Trump's announcement of 20% tariffs on Irish goods (compared to 10% on U.K. goods), McGregor Please see below for a suggested way to pronounce the word Ireland should seriously consider leaving the European Union.
Sebastian Sinclair is the editor
