Conor McGregor’s Cryptocurrency Venture Faces Challenges
In recent news, UFC fighter Conor McGregor’s attempt to enter the cryptocurrency market encountered significant obstacles. His “REAL” token did not succeed in its launch phase, securing only $392,315 from 668 investors during a 28-hour presale period. This amount was notably below the $1,008,000 threshold needed to proceed with the launch.
Market Conditions Contribute to Unsuccessful Launch
The development team behind the token, Real World Gaming DAO (RWG), attributed the lackluster response to challenging macroeconomic conditions. The timing was particularly unfavorable for McGregor’s crypto endeavor. Bitcoin experienced a downturn, falling below $75,000, while the U.S. stock market saw a staggering $6.6 trillion loss over April 3rd and 4th. This loss, reportedly the largest two-day decline ever, was fueled by recession fears linked to U.S. President Donald Trump’s tariff announcements.
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Despite the setback, RWG announced on X that all bids would be fully refunded. Conor McGregor echoed this sentiment to his followers, emphasizing the transparency of the process: “Ladies and gentlemen, this is REAL!”
Efficient Refund Process Utilizing Ethereum Blockchain
On-chain data confirmed that the refund process was executed efficiently. A “Settle” batch transaction was deployed to the rwg.eth address at block 22212460, around 3:50 PM Eastern time on Sunday. The refunds were processed using USDC on the Ethereum network, ensuring that participants received their funds promptly.
The current total cryptocurrency market capitalization stands at $2.38 trillion, according to TradingView. The token’s launch employed a sealed-bid auction mechanism through Axis Finance. This method aimed to ensure fairness by allowing bidders to set private price points. However, despite RWG’s assertion that this method set a new standard for fairness and transparency, it failed to meet the required funding to establish a clearing price.
Declining Interest in Celebrity-Backed Tokens
The unsuccessful launch highlights a growing disinterest in tokens backed by celebrities. Although Conor McGregor emphasized that the token was not merely a “celebrity-endorsed token,” but a “REAL game changer” for the crypto industry, his message did not resonate sufficiently with investors.
Market data from CoinMarketCap indicates a 10.9% decline in the broader memecoin market, reducing its total value to $44.5 billion from over $100 billion at the beginning of 2025. This decline is part of a trend following controversial meme coin launches, such as the official Trump meme coin in January and Argentine President Javier Milei’s token in February, which reportedly led to fraud allegations and investor lawsuits.
Political Ambitions and Their Impact on McGregor’s Crypto Efforts
Adding complexity to the situation, Conor McGregor has expressed intentions to run for the presidency of Ireland, as reported in March. Furthermore, he has shown support for Trump’s economic policies. Following Trump’s decision to impose 20% tariffs on Irish goods (compared to 10% on UK goods), McGregor suggested that Ireland should consider exiting the European Union.
Despite the initial setback, a spokesperson from RWG conveyed their intention to relaunch the token soon. Whether the project will succeed in the current economic climate remains uncertain.
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