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Jai Pratap
Author
Jai Pratap
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Why Trust Cryptonews
A crypto token launched by MMA fighter and entrepreneur Conor McGregor failed to meet its fundraising target during a presale that concluded on April 6, prompting the developers to issue full refunds to participants.
The $REAL token, developed by the Real World Gaming DAO (RWG), raised $392,315 in USDC over a 28-hour sealed-bid auction—less than 40% of its $1.008 million minimum raise and just over 10% of the $3.6 million fundraising goal. As per RWG’s announcement, 668 participants took part in the auction.
Developers Promise Full Refund
The presale aimed to distribute 60 million $REAL tokens—3% of the total 2 billion supply—at a starting bid price of $0.06, valuing the project at a fully diluted $120 million. With the minimum threshold unmet, RWG confirmed all bids would be refunded.
The token received notable backing from Conor McGregor, who promoted it to his combined following of nearly 57 million across X and Instagram. The project also claimed support from major Web3 firms including Animoca Brands and KuCoin Labs.
Timing of Meme Coin Launch Coincides With Broader Market Meltdown
Despite this backing, the launch occurred during a volatile market phase. The broader crypto sector faced sharp declines last week, with Bitcoin and U.S. equities both posting losses. Concurrently, meme coin activity continued to taper off after a series of high-profile controversies and fading investor interest.
The $REAL project positioned itself as a utility token tied to RWG’s gaming and entertainment initiatives, with developers promising integration into McGregor’s personal brand ecosystem. However, skepticism from parts of the crypto community—especially online analysts—appeared to contribute to dampened enthusiasm.
RWG said in a public statement that the effort is ongoing and that the failed presale does not mark the end of the project’s ambitions. Further plans or a revised strategy have not yet been announced.
