TLDR
- Conor McGregor’s $REAL token presale failed, raising only $392,000 of the $1 million minimum goal
- All investor bids will be refunded as the presale fell 61% short of its target
- Despite promotion to McGregor’s 57 million social media followers, the token failed to launch
- The failure signals a market shift away from celebrity-backed crypto tokens
- The presale used a sealed-bid auction format with only 668 participants contributing
A cryptocurrency token backed by MMA superstar Conor McGregor has failed to launch after raising just $392,000 during its presale period. The $REAL token, created by McGregor and the Real World Gaming DAO (RWG), fell far short of its $1 million minimum target despite heavy promotion across social media.
The token presale, which lasted 28 hours, used a sealed-bid auction format and attracted only 668 participants. This represented just 39% of the minimum raise needed for the token to launch, forcing the team to refund all investor bids.
We need to be real.
We didn't hit our minimum raise.
All bids will be refunded in full.
This is not the end.— Real World Gaming (@getrealtoken) April 6, 2025
“We need to be real. We didn’t hit our minimum raise. All bids will be refunded in full,” RWG announced on X after the presale ended. The organization added, “This is not the end,” suggesting they may attempt to revive the project in some form.
Market Conditions Work Against Celebrity Token
The $REAL token originally aimed to raise up to $3.6 million by selling 60 million tokens, which represented 3% of the total supply. The starting price was set at $0.06 per token, with plans for a more extensive launch after the presale.
McGregor had heavily promoted the token to his massive social media following, which includes 10 million followers on X and nearly 47 million on Instagram.
In promotional materials, McGregor claimed, “This isn’t some celebrity-endorsed bullshit token, it’s a REAL game changer that will improve the crypto ecosystem as well as make REAL change in the world.”
The team behind the token included the Real World Gaming DAO, formerly known as Balthazar DAO. They listed major crypto firms as token buyers, including Animoca Brands, KuCoin Labs, Tezos Foundation, and Algorand, among others.
Token Structure and Promises
The $REAL token had been structured with what appeared to be long-term planning. The token distribution allocated 31.5% to the DAO treasury, 16.5% to the community, 13.5% to seed investors, and 10% to the team.
The remaining tokens were to be distributed among staking, sales, airdrops, and liquidity. However, some in the crypto community had voiced concerns about the team’s 10% stake in the project.
McGregor and his team had pitched the project as a more honest alternative to other celebrity-backed tokens. They promised transparency, DAO voting rights, and possible integration into a gaming ecosystem.
The token was designed as an ERC-20 token, which runs on the Ethereum blockchain. This is the same standard used by many major cryptocurrencies and tokens in the market today.
Despite these promises and apparent backing from major crypto firms, the presale still failed to meet its minimum goal. This failure came even with McGregor’s direct promotion to tens of millions of followers across multiple social media platforms.
Broader Market Implications
The failure of McGregor’s token launch coincides with a tough period for the broader crypto market, especially for memecoins. Trading volume for memecoins has been declining, with The Block’s GMCI Meme index falling nearly 9% in the 24 hours around the failed presale.
The crypto community’s response to the token launch was mixed, with some major figures expressing skepticism. On-chain analyst ZachXBT’s sarcastic comment about the token received nearly three times as many likes as the original announcement post.
The unsuccessful launch may reflect growing caution among crypto investors, especially after high-profile controversies like February’s LIBRA memecoin scandal. Investors appear to be more careful, even when projects have celebrity backing and support from established crypto firms.
All bids made during the presale period will be refunded to investors, according to the project’s website. While McGregor’s team has indicated the project will continue in some capacity, the token’s initial launch has been postponed indefinitely.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
