The dream of seeing a dog in a pink knitted hat illuminate the Las Vegas Sphere remains alive, albeit with a dose of reality. Organizers behind the crowdfunded campaign that raised nearly $700,000 to showcase the mascot of Solana memecoin Dogwifhat (WIF) on the giant LED globe are “90% confident” the deal will go through.
However, a wait that began in March has stretched on, leading to some concerns from the Dogwifhat community.
“We are [still] working with them to fit their criteria and requirements,” said Mihir, one of the five organizers identified on the “sphere wif hat” website. Citing ongoing discussions and the potential for market speculation, Mihir declined to elaborate further.
The Sphere itself has remained tight-lipped, with a spokesperson declining to comment.
Community Concerns and Reassurances
Contributors to the campaign, eager to see their meme venture reach a dazzling new height, have voiced anxieties on social media platforms like [X] in recent weeks. These anxieties stemmed from a perceived lack of communication regarding progress and the fate of donated funds should negotiations fail.
Mihir addressed these concerns head-on, assuring contributors that a public message was sent on the official Dogwifhat Telegram group on June 18th guaranteeing a full refund if talks collapse.
“The Sphere is still being worked on. These things take time and we’re volunteering our time working for the meme,” the message reportedly stated. “If it was canceled, we would let you know immediately and all funds will be returned.”
Copyright Concerns and Achi’s Owners
Rumors also swirled about potential copyright issues surrounding the official image of the WIF mascot, a Shiba Inu named Achi. Mihir dismissed these claims, stating that while the original image might have copyright issues, “we’re working with the owners of the dog on other initiatives, and they are happy about the meme.”
Interestingly, in March, pseudonymous crypto personality Gigantic Rebirth (GCR) purchased a one-of-one NFT of the original Achi image for a staggering $4.3 million.
Mihir reassured the community that the team maintains contact with Achi’s owners, who even loaned them a replica of the now-famous pink knitted hat.
The team behind the campaign includes prominent crypto trader Ansem and four other pseudonymous WIF community members whose identities can be found on the official website.
WIF’s Market Performance
Despite the price volatility common to memecoins, WIF currently sits at #54 in terms of market capitalization. While down over 62% from its all-time high of $4.83 in March, WIF has still managed an impressive feat, boasting a market cap of $1.85 billion at the time of publication. This represents a staggering over 1,000,000% increase since its launch in late November 2021.
Whether Dogwifhat will illuminate the Vegas Sphere remains to be seen, but the journey itself has been a testament to the power and quirks of the memecoin phenomenon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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