Conor McGregor Memecoin Crashes as Fundraising Flops and Refunds Roll Out

• Conor McGregor crypto token raised only $392,315, just 39% of its $1 million goal, causing the launch to be canceled.

• All bidders were fully refunded through USDC on Ethereum after the presale ended.

• The team behind the token, RWG, cited tough market conditions and plans to relaunch the project after recalibrating.

Conor McGregor’s latest foray into the crypto world has taken a major fallback. His memecoin, which launched with big promises and massive hype, has crashed just days after its fundraising campaign failed to reach expectations.

The REAL token only raised $392,000, which was far below its $1 million goal; causing all the money to be automatically refunded. The team says they plan to try again with a new launch.

Conor McGregor Memecoin Begins Refunds 

The token, which was supposed to ride the wave of celebrity-backed crypto success, didn’t attract enough buyers. After the presale ended, RWG posted on X (formerly Twitter) that it didn’t meet its fundraising target and confirmed that all bids would be fully refunded. Conor McGregor also shared the update with his fans, writing, Ladies and gentlemen, this is REAL!”

The REAL token, created by Real World Gaming DAO (RWG), brought in just $392,315 in USDC from 668 bidders, which is far below the required $1,008,000 needed to move forward with the launch.

Blockchain data shows that all refunds were completed shortly after, with a batch transaction sent from the rwg.eth wallet around 3:53 PM Eastern Time. The refunds were processed using USDC on the Ethereum network.

Furthermore, the challenging market conditions and the distraction of the meme narrative are considered to have played a role in the failed launch. 

RWG used a sealed-bid auction system through Axis Finance to launch the REAL token. This allowed people to place private bids at their prices, aiming to make the process fair and transparent. The system was designed to give everyone an equal chance and reduce price swings after launch.

After the auction ended, bids were sorted, and tokens were meant to go to the highest offers. But since the project didn’t raise enough money, the system couldn’t set a final price, and the launch failed.

The team has now decided to pause and adjust their strategy, but they do plan to try again soon. For now, though, the project is on hold as the team prepares for a potential relaunch.