Dogwifhat has abandoned its plan to advertise at the Sphere venue in Las Vegas, and the team is refunding nearly $700,000
ChainCatcher news, according to Decrypt, the organizers of Dogwifhat have abandoned their plan to advertise at the Las Vegas Sphere. Previously, the project raised nearly $700,000 in cryptocurrency for fundraising, but it ultimately failed after more than a year. In late January of this year, the official X account of the token hinted that "the dog with a hat" would appear on the exterior of the venue in the first quarter of 2025. Late Monday night, organizer GamesMasterFlex (also known as Edward) announced on the X platform the termination of the Dogwifhat advertising plan, with refunds to donors starting as early as Tuesday; this statement was retweeted by the token's official X account.Edward had claimed that the team had reached an agreement with a "fashion brand partner" to display the Dogwifhat logo at the venue, and the relevant news from the token's official X account was initially confirmed and then retracted, ultimately only hinting that the dog image would appear on the exterior of the sphere in the first quarter of 2025. However, days later, a spokesperson for the venue denied that any agreement had been signed, stating that they only accept advertisements related to cryptocurrency exchanges and Bitcoin, and had never made a deal with Dogwifhat, nor do they have any plans for display now or in the future, expressing outrage at the misuse of their name for fraud. Edward stated that this announcement "scared off" the fashion brand partner, as the company's concerns about the venue's statements regarding "outrage" and "fraudulent intent" were significant. After the official denial, the token WIF plummeted 18% the next day, and Edward indicated that this caused the partner to be wary of the advertisement or its impact on the token's price, raising concerns from the SEC, ultimately leading to the collapse of the collaboration.
