Nikolas Sargeant
The cryptocurrency token endorsed by MMA superstar Conor McGregor has failed to meet its minimum fundraising target, with the presale ending in disappointment on April 6. The $REAL token, developed by Real World Gaming DAO (RWG), managed to raise only $392,315 in USDC stablecoins during its 28-hour sealed-bid auction.
This amount represented less than 40% of the $1.008 million minimum threshold and barely surpassed 10% of the ambitious $3.6 million fundraising goal. According to RWG's announcement, 668 participants placed bids during the presale, which has now triggered the project's refund protocol.
Investors Receive Complete Refunds After Failed Launch
The presale had aimed to distribute 60 million $REAL tokens, representing 3% of the total 2 billion supply. With a starting bid price of $0.06 per token, the project carried a fully diluted valuation of $120 million. Following the fundraising shortfall, RWG confirmed that all participants would receive full refunds of their investments.
Despite McGregor's promotional efforts to his combined audience of nearly 57 million followers across X and Instagram, and claimed backing from prominent Web3 organizations including Animoca Brands and KuCoin Labs, investor enthusiasm remained tepid.
Market Conditions Contribute to Token's Struggles
The timing of the $REAL token launch coincided with broader market turbulence. Last week saw significant declines across both cryptocurrency and traditional markets, with Bitcoin prices falling alongside U.S. equities. Additionally, the once-booming meme coin sector has experienced declining momentum following several high-profile controversies and waning investor interest.
Although RWG positioned $REAL as a utility token connected to gaming and entertainment initiatives within McGregor's brand ecosystem, the project faced skepticism from cryptocurrency analysts and community members. This criticism likely contributed to the lukewarm reception.
RWG has issued a statement confirming that development efforts will continue despite the unsuccessful presale. However, the organization has not yet disclosed revised plans or a new strategy for the project's future.
