- REAL token presale raised less than half of its $1 million target leading to full investor refunds.
- Only 668 people joined the REAL token auction despite promotion by UFC star Conor McGregor.
- Falling memecoin interest and weak market conditions hurt the success of the $REAL presale.
Investors in the $REAL token presale will receive full refunds after the offering failed to meet its $1 million goal. The token, promoted by former UFC champion Conor McGregor, was part of the Real World Gaming (RWG) project.
The presale took place over 28 hours between April 5 and 6. It raised $392,315 in USDC, falling short of the minimum requirement. This amount represents only 39% of the targeted $1 million and around 11% of the intended $3.6 million fundraising goal.
Auction Sees Low Participation Despite Promotion
RWG used a sealed-bid auction format to offer 60 million REAL tokens. This was 3% of the total supply of 2 billion tokens. The auction targeted a fully diluted valuation of $120 million, with a minimum bid of $0.06 per token.
Only 668 participants took part in the presale, according to data released by RWG. Despite promotion to McGregor’s 57 million followers across social media platforms, the offering failed to attract wider investor attention.
Market Conditions and Token Skepticism
The project aimed to connect the REAL token to RWG’s gaming and entertainment ventures. Developers positioned it as a utility token that would integrate with McGregor’s personal brand. They also announced partnerships with well-known Web3 firms, including Animoca Brands and KuCoin Labs.
However, several market conditions appear to have influenced the outcome. The launch occurred during a period of market volatility. Both Bitcoin and U.S. equities posted notable losses last week. At the same time, activity across memecoins continued to drop.
RWG’s presale took place amid fading investor interest in celebrity-endorsed tokens. Previous scandals in the space have added to investor caution. One of these includes the LIBRA token linked to Argentine President Javier Milei. The Trump-themed memecoin also stirred controversy earlier this year.
Refunds Begin as Community Response Grows
Online analysts reacted skeptically to the REAL token announcement. Some posts critical of the token gained significantly more engagement than the project’s original promotional materials. This indicates the growing doubt among investors regarding high-profile token launches.
Currently, the memecoin market has dropped below a $42 billion market cap. It has declined by 16% over the past 24 hours, according to CoinGecko data. Many investors now appear hesitant to back celebrity-driven crypto projects without clear utility.
Despite promotional efforts and corporate backing, the REAL token failed to secure investor trust. Refunds will now be issued in full to all presale participants.
