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McGregor had vowed to change the crypto game through the release of his $REAL meme coin last week.
But with only $392,315 raised from 668 bidders during its 28-hour presale, the $1m minimum requirement for launch fell far short and Real World Gaming DAO (RWG) was forced to pull the plug and refund investors.
“We need to be real,” RWG posted on social media. “We didn’t hit our minimum raise. All bids will be refunded in full. This is not the end.”
A spokesperson for RWG told the Decrypt website that “challenging macroeconomic conditions” and the “distracting nature of the meme narrative” were to blame for the failed launch.
Decrypt suggested RWG had “perhaps overlooked all the negativity surrounding McGregor in recent months”.
Ahead of the launch, McGregor had boasted on social media the he had “changed the fight game, changed the whiskey game and changed the stout game”.
“Now it’s time to change the CRYPTO game,” he declared. “This is just the beginning. This is $REAL.”
However, “despite the star power behind it, McGregor’s Real token failed to live up to expectations, raising just a fraction of its target,” reports CCN.
It has been further reported that the presale, which started on April 5, raised just $392,315, or 39 per cent of the goal, with participation from 668 investors.
In an official announcement on Monday, the Real team acknowledged the shortfall and promised a full refund to early investors.
Today's News in 90 seconds - 8th April 2025
Crypto currency websites report how McGregor’s Real token didn’t just fall short because of a celebrity mismatch.
“While celebrity-backed token launches have been common in recent months, McGregor’s project was unusual for its focus on an actual use case – an in-game utility token – rather than a meme coin,” CCN reports.
“However, despite its utility-focused foundation, the token struggled to resonate with investors in a highly bearish crypto market.
“The broader market conditions have been challenging.”
On Monday, Bitcoin (BTC) was down 10pc, and Ethereum (ETH) had dropped over 20pc, contributing to one of the worst crashes this year.
It has also been revealed how “the frenzy around meme coins”, which previously drove massive demand for celebrity-backed tokens, “has largely subsided”.
According to CCN, once a $100 billion market, meme coins are now worth less than $40 billion, a sharp decline that reflects the broader market struggle for liquidity.
Since his civil rape case last year, which found that McGregor assaulted Nikita Hand in a Dublin hotel in December 2018, the Dubliner has waded into the worlds of politics and voiced opinions on social issues.
Last week, he was heavily criticised for attempting to link the autism to vaccinations.
McGregor’s announcement that he would run to become the next Irish President was also met with a wall of rejection in a survey of over 130 TDs and senators that found that not one of them would back MMA fighter’s bid.
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