Conor McGregor has responded to the postponement of his cryptocurrency token launch after it failed to reach its funding target.
The former UFC double champion had announced the launch of his new cryptocurrency token, $REAL, but the project hit a roadblock when it couldn’t secure the necessary funds to proceed.
Real World Gaming, the developer behind the token, confirmed that the launch has been postponed and that refunds are being issued to investors. In a post on social media platform X, the company stated: “All bids have now been returned to wallets. We’re gonna go get some sleep. Stay real.”
McGregor offered a brief three-word reaction to the announcement, writing: “This is $REAL!”
According to reports, the new token needed to secure a minimum of $1,008,000 in USDC during its 28-hour presale period to move forward. Unfortunately, it only managed to raise $392,315 from 668 bidders, falling short by $615,685 when the presale period concluded on Sunday.
Addressing the situation, Real World Gaming acknowledged the shortfall, stating: “We need to be real. We didn’t hit our minimum raise. All bids will be refunded in full. This is not the end.”
Despite this setback, McGregor remains optimistic about the potential of his cryptocurrency token. In a statement to Coin Telegraph, he emphasized his belief that the token could revolutionize the digital currency space.
“This isn’t some celebrity-endorsed token, it’s a REAL game changer that will improve the crypto ecosystem as well as make REAL change in the world,” McGregor stated.
While celebrity cryptocurrency tokens have gained popularity in the market, their value is often influenced more by public engagement and the celebrity’s popularity rather than fundamental strengths. Many of these tokens exhibit high volatility, and some have faced scrutiny over their practices.
This cryptocurrency venture is not McGregor’s first business initiative outside of his combat sports career. The Irish sports star has established several successful brands, including Proper No.12 Irish Whiskey, Forged Irish Stout, and August McGregor, among others.
As of now, it remains to be seen whether the $McGREGOR token will eventually launch after this initial setback.
