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UFC fighter Conor McGregor’s foray into cryptocurrency hit a roadblock this weekend. His “REAL” token failed to launch after raising only $392,315 from 668 bidders during its 28-hour presale. The amount fell far short of the $1,008,000 minimum requirement needed to proceed with the launch.

Market Downturn Blamed For Poor Reception

Real World Gaming DAO (RWG), the developer behind the token, pointed to “challenging macroeconomic conditions” as a key factor in the failed launch. The timing couldn’t have been worse for McGregor’s crypto venture.

Bitcoin dropped below $75,000 while U.S. stocks suffered an estimated $6.6 trillion loss on April 3 and 4 — reportedly the largest two-day loss ever — as US President Donald Trump’s tariff plans stirred recession fears.

“All bids will be refunded in full,” RWG announced on X after the auction closed. McGregor shared the announcement with his followers, stating: “Ladies and gentlemen, this is REAL!”

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

Refunds Processed Through Ethereum Blockchain

According to on-chain data, all refunds were processed promptly. A “Settle” batch transaction was deployed to the rwg.eth address at block 22212460 around 3:50 PM Eastern time on Sunday. All refunds were distributed using USDC over the Ethereum network, ensuring participants received their money back.

The token used a sealed-bid auction mechanism through Axis Finance. This approach was designed to increase fairness by allowing participants to place private bids at their preferred price points. Despite RWG claiming this method “set a new benchmark” for “fairness and transparency in token launches,” the system failed to establish a clearing price due to insufficient funding.

Celebrity Tokens Losing Appeal Amid Broader Crypto Slump

The failed launch signals weakening investor interest in celebrity-backed tokens. Conor McGregor had insisted the token wasn’t “some celebrity-endorsed token” but rather “a REAL game changer that will improve the crypto ecosystem.” His words apparently failed to convince enough investors.

Ladies and gentlemen, this is REAL! https://t.co/uhBgjAHotX

— Conor McGregor (@TheNotoriousMMA) April 6, 2025

Data from CoinMarketCap shows the broader memecoin market has dropped by 10.9%, reducing its total value to $44.5 billion from over $100 billion at the beginning of 2025. This decline follows controversial launches of political meme coins, including an official Trump meme coin in January and Argentine President Javier Milei’s token in February, which reportedly resulted in fraud charges and investor lawsuits.

McGregor’s Political Aspirations Complicate Crypto Venture

Adding another layer to the story, Conor McGregor has recently signaled his intention to run for President of Ireland, according to reports in March. The fighter has also aligned himself with Trump’s economic policies.

Following Trump’s announcement of 20% tariffs on Irish goods (compared to 10% on UK goods), Conor McGregor suggested Ireland should consider leaving the European Union, according to reports.

Despite the initial failure, a spokesperson from RWG said they are looking to relaunch the token soon. Whether the second attempt will succeed in the current economic climate remains to be seen.

Featured image from Gemini Imagen, chart from TradingView

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