A cryptocurrency token, spearheaded by MMA fighter and entrepreneur Conor McGregor, fell short of its fundraising target during a presale that wrapped up on April 6. Consequently, the developers have decided to issue full refunds to all participants involved.
The $REAL token, created by the Real World Gaming DAO (RWG), amassed a total of $392,315 in USDC within a 28-hour sealed-bid auction. This amount was less than 40% of its required minimum raise of $1.008 million and a mere 10% of its ambitious $3.6 million fundraising goal. According to RWG, the auction saw participation from 668 bidders.
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
Developers Commit to Full Refunds
The presale aimed to allocate 60 million $REAL tokens, constituting 3% of the overall supply of 2 billion tokens, priced initially at $0.06 each, effectively valuing the project at a fully diluted market cap of $120 million. However, as the minimum threshold was not reached, RWG will proceed with full refunds for all bids.
The project enjoyed considerable visibility through Conor McGregor, who actively promoted it to his vast audience of nearly 57 million followers across social media platforms X and Instagram. Additionally, support from prominent Web3 organizations such as Animoca Brands and KuCoin Labs was highlighted by the developers.
Launch Timing Amidst Market Turmoil
Nonetheless, the launch coincided with a tumultuous period in the crypto market. The broader sector experienced significant downturns last week, as both Bitcoin and U.S. equities registered substantial losses. Concurrently, interest in meme coins declined after a series of controversies and a waning appetite among investors.
The $REAL token was positioned as a utility token intended for integration with RWG’s gaming and entertainment ventures, with the developers promising its incorporation into McGregor’s brand ecosystem. However, skepticism from segments of the crypto community, particularly among online analysts, seemed to dampen enthusiasm for the initiative.
RWG expressed that they remain committed to moving forward, asserting that the unsuccessful presale does not signify the end of their goals. No further plans or adjustments to their strategy have been disclosed at this time.
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