Source: Cointelegraph Original: "{title}"
Investors participating in the auction for the REAL token promoted by former UFC champion Conor McGregor will receive a full refund, as the project failed to meet the minimum fundraising requirement of $1 million.
The development team of the REAL token, Real World Gaming, stated in a post on the X platform on April 6: "We have to be realistic; we did not reach the minimum fundraising goal." They added, "All bidding funds will be fully refunded."
"This is not the end," RWG stated.
During the 28-hour presale held from April 5 to 6, the team raised only $392,315 in USDC through a sealed bid auction, which is less than half of the minimum requirement and only about 11% of the $3.6 million target.
The public sale of 60 million REAL tokens (3% of the total supply of 2 billion tokens) was initially set with a fully diluted valuation of $120 million, with a starting bid price of $0.06 per token in the sealed bid auction.
According to RWG, only 668 participants took part in the bidding. McGregor, a former UFC fighter, later transitioned into entrepreneurship and became a political candidate in Ireland. He initially claimed that his token was more legitimate compared to other celebrity-endorsed tokens, which often lead to "rug pull" scams.
"This is not one of those garbage tokens endorsed by celebrities; it is a true game changer that will improve the cryptocurrency ecosystem and bring real change to the world," McGregor stated in a message to Cointelegraph.
Was the timing of the REAL token launch poor? At the time of the REAL token launch, the market was in a sharp decline—Bitcoin (BTC) prices were falling, and U.S. stocks lost about $6.6 trillion between April 3 and 4, marking the largest two-day drop in history. Meanwhile, U.S. President Donald Trump's tariff plans continued to exacerbate concerns about an economic recession.
Since the official launch of the Trump memecoin on January 18, 2025, the memecoin market has been cooling down. In late February, the scandal involving Argentine President Javier Milei and the Libra (LIBRA) token further intensified this downward trend.
According to CoinGecko, the once $100 billion memecoin market has now fallen below $44 billion, with a 13% drop in the past 24 hours.
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