Key Takeaways
- Investors and bidders on the REAL token promoted by the Irish professional mixed martial artist Conor McGregor will get a refund for their investments as the token failed to launch on the said date.
- The token launch failed as the project failed to meet the minimum requirement of $1 million set by the developers.
- The token launch was at a time when even the top-performing cryptocurrencies, such as Bitcoin, were facing a price drop, the reason being the global financial crisis triggered by America’s tariff implementations.
Investors and bidders on the REAL token promoted by the Irish professional mixed martial artist Conor McGregor will get a refund for their investments as the token failed to launch on the said date. The token launch failed as the project failed to meet the minimum requirement of $1 million set by the developers. Real World Gaming (RWG) posted on their official X account that all the bids would be fully refunded. The team could only raise $392,315 during the 28-hour presale on April 5 and 6.
With REAL tokens being promoted by a celebrity like Conor McGregor, investors mistook it as a celebrity meme coin and refused to invest in it due to apprehensions that REAL tokens would have the same fate as other celebrity tokens such as TRUMP and MELANIA tokens. McGregor, who intends to contest the Irish presidential elections, is a close aid of Trump’s economic agenda. This made investors apprehensive about whether REAL tokens will face the same fate as TRUMP tokens.
Why Couldn’t REAL Tokens Rise To The Expected Levels?
The major reason for the REAL token’s fall in price is due to the current instability in the crypto market. The token launch was at a time when even the top-performing cryptocurrencies, such as Bitcoin, were facing a price drop, the reason being the global financial crisis triggered by America’s tariff implementations. The price of BTC is falling continuously, with the price being $75,235.84 at the time of writing this article.
The stock markets in the United States also saw a huge dip in value on April 4, which amounted to almost the total value of the crypto market. These losses in the market are pointing to the possibility of a recession in the near future, and investors do not want to take the risk of investing in a new currency with an uncertain future outlook. This is probably the major reason behind REAL tokens failing to reach the minimum requirement level of $1 million set by the developers.
Moreover, the meme coin market is also going through its dullest phase with the fall in TRUMP and MELANIA tokens soon after their launch in January. This situation was escalated by the LIBRA token issue where Libra tokens, promoted by Argentina’s president Javier Milei, fell to an all-time low price despite the projected high prices. The current meme coin market has a valuation of just $44 billion, which was once as high as $100 billion.
REAL Token’s Sealed-bid Auction
REAL tokens follow a sealed-bid auction model, which allows participants to place private bids at their preferred price points during the given time. After the bidding period closes, the system decrypts all bids and allocates tokens to the highest bidders, with the clearing price set by the last successful bid to be filled.
The Real protocol had combined with Axis Finance to implement the sealed-bid auction mechanism. The developers have claimed that their connection with Axis Finance in implementing the REAL token’s sealed-bid auction has been successful in that it has created a benchmark in ensuring fairness and transparency in the REAL token transactions.
Also read: Peter Schiff Says Crypto ‘Starting To Crack’ As Markets Slide On Trump Tariffs
The Bottom Line
The refunds have been sanctioned by the RWG and have reached the accounts of bidders of REAL tokens. This was a justifiable act by the REAL token team that made them a trustworthy entity in the fraud-laden crypto market. The failure of REAL tokens to acquire the said level of profitability is due to the current instability of the market. Had it been launched at a different time when the market was more stable, it would have emerged profitable. The future plans of the Real protocol are not known. However, investors should stay tuned to the latest developments to find out the right time to invest.