- Token backed by Animoca Brands and KuCoin Labs.
- Refunds promised to all investors as presale fails.
- RWG says the project will continue despite setback.
The recent fundraising failure of Conor McGregor’s $REAL token has sparked broader questions about celebrity-backed cryptocurrencies amid declining interest in meme coins and unstable market conditions.
Despite promotion from the MMA star to his 57 million followers and claims of support from Animoca Brands and KuCoin Labs, the project raised only $392,315 in USDC during a 28-hour sealed-bid auction, missing even the minimum $1.008 million target.
With just 668 participants, the developers at Real World Gaming DAO (RWG) have now promised full refunds and confirmed that the presale does not mark the end of the project.
$REAL presale misses $1M goal
The $REAL token presale was set up to sell 60 million tokens, representing 3% of the total 2 billion supply. At a starting bid price of $0.06, the fully diluted valuation was projected at $120 million.
However, with the minimum raise of $1.008 million unmet, the team confirmed the auction had failed and all funds would be returned to participants.
The presale concluded on April 6, attracting only a fraction of expected investor interest. RWG noted that 668 users took part in the auction, raising a total of just over 10% of the broader $3.6 million target.
Celebrity support falls flat
Despite Conor McGregor’s backing, which included posts across X and Instagram to millions of followers, the token failed to gain significant traction.
McGregor had promoted the project as part of RWG’s gaming and entertainment platform, where $REAL was positioned as a utility token tied to his brand.
According to RWG, the token was meant to be integrated into McGregor’s wider business initiatives.
Supporters included notable Web3 names like Animoca Brands and KuCoin Labs.
However, the promotional campaign coincided with a general decline in interest in celebrity-endorsed tokens and meme coins, particularly following recent controversies involving similar launches.
Social media users and crypto analysts also expressed scepticism, contributing to a lack of participation.
Crypto market adds pressure
The $REAL token launched during a turbulent time for the crypto sector.
Last week, Bitcoin prices declined, US equities pulled back, and meme coin enthusiasm faded after several weeks of rapid speculation.
As investor sentiment turned more risk-averse, new launches—especially those with meme or celebrity ties—struggled to attract attention.
The timing may have played a crucial role in the poor presale outcome, as the crypto market has seen considerable volatility across multiple asset classes.
The RWG team has not yet shared whether a future presale or adjusted strategy is in the works.
Refunds issued, but project remains active
In the wake of the underwhelming raise, RWG issued a public statement confirming that the project is not being abandoned.
Although all participants will receive full refunds, developers suggested that new plans will be announced soon.
The DAO said the failure to meet the fundraising goal was a temporary setback.
While $REAL’s roadmap remains unclear, the team maintains that the project’s ambitions are ongoing.
No revised launch schedule or alternative fundraising strategy has been disclosed at the time of writing.
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