Conor McGregor, the previous UFC champion, has entered the crypto scene with the launch of a brand new memecoin dubbed REAL.
Regardless of the star energy behind it, REAL is off to a sluggish begin, struggling to draw investor curiosity in a memecoin market that’s nonetheless reeling from latest scandals.
Conor McGregor’s REAL Token Raises Simply $218,000
Introduced on April 5, McGregor unveiled his plans to disrupt the digital asset area, claiming he had already modified the struggle, whiskey, and stout industries.
“I modified the FIGHT sport. I modified the WHISKEY sport. I modified the STOUT sport. Now it’s time to vary the CRYPTO sport. That is only the start. That is REAL,” McGregor introduced on X.
His newest transfer entails a partnership with Actual World Gaming DAO to launch REAL. The token guarantees staking rewards and governance rights by means of a decentralized autonomous group.
In line with the undertaking’s web site, the workforce opted for a sealed-bid public sale mannequin to launch the token, aiming to stop bot manipulation and create fairer pricing.
Beneath this method, contributors submitted bids utilizing USDC. Profitable bidders would obtain REAL tokens based mostly on a clearing value, whereas those that didn’t meet the mark could be refunded.
“The public sale will probably be open for 28 hours, after which a single clearing value will probably be decided. Tokens will probably be locked for 12 hours after public sale near facilitate a snipe-free deployment of on-chain liquidity. Proceeds from the public sale will seed this pool and fund the DAO treasury,” the undertaking added.
Nevertheless, the neighborhood’s response to the undertaking has been underwhelming. The workforce aimed to boost $3.6 million, with a minimal threshold of $1 million. As of press time, the public sale has raised simply $218,000, far under expectations.
A number of points look like fueling investor hesitation. Critics have known as out the token’s quick unlock window, warning that it creates excellent situations for speedy sell-offs.
Others raised issues in regards to the undertaking’s use of third-party logos on its web site, hinting at deceptive promotional ways.
Furthermore, neighborhood suggestions in regards to the undertaking has additionally been overwhelmingly destructive. Many customers labeled the tokenomics as flawed and accused the workforce of specializing in short-term hype slightly than sustainable worth.
“In the event you’re shopping for REAL token, put together to get dumped on. The tokenomics are absolute trash, and the unlock cliff is just 12 hours. You’re basically giving your cash away if you happen to purchase this token,” Crypto Rug Muncher wrote.
In the meantime, the dismal launch displays broader exhaustion within the meme coin sector, which has been rattled by latest scandals involving different celebrity-backed tokens.
Tokens tied to Donald Trump and Melania, for example, have seen sharp declines which have precipitated traders vital losses.
“Celeb cash like McGregor’s REAL and Trumps’ are poisonous for crypto! Pushed by hype, they lack utility, $Trump crashed 81%, $Melania 92%. These [tokens] harm traders and crypto’s popularity. We want utility tokens for actual worth and progress,” Maragkos Petros, the founding father of MetadudesX mentioned on social media platform X.
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