Conor McGregor’s attempt to launch a cryptocurrency called “REAL” totally bombed. The presale, which lasted 28 hours, only raised $392,315 from 668 bidders – way below the $1,008,000 needed to actually launch the coin.
Why the Failure?
The developers, Real World Gaming DAO (RWG), blamed the poor performance on the current tough economic climate. This was a really bad time to launch a crypto project. Bitcoin’s price plummeted, and the US stock market took a massive hit – reportedly the biggest two-day loss ever – fueled by worries about President Trump’s tariff plans.
Full Refunds Issued
RWG announced that everyone who invested would get their money back. The refunds were quickly processed through the Ethereum blockchain using USDC. They used a sealed-bid auction system through Axis Finance, which they claimed was super fair, but it didn’t make up for the lack of funds.
Celebrity Crypto’s Cooling Appeal
This whole thing shows that people are less interested in celebrity-backed crypto projects. McGregor insisted his token wasn’t just another celebrity endorsement, but a “game changer,” but that message clearly didn’t resonate with investors. The broader memecoin market is also down significantly, losing over half its value since the start of the year, partly due to some controversial political memecoin launches that ended badly.
McGregor’s Political Ambitions
Adding to the mix, McGregor is reportedly considering a run for President of Ireland. He’s also publicly supported Trump’s economic policies, which might have influenced investor sentiment, especially given Trump’s tariffs.
Will There Be a Round Two?
Despite the initial failure, RWG says they’re planning another launch. Whether that will be successful in this economic environment is anyone’s guess.
