Crowdfunding campaign organizers raised nearly $700,000 in March to bring memecoin mascot Solana Dogwifhat (WIF) to the Las Vegas Sphere. To date, they remain confident that the advertising deal will go ahead despite the long waiting period.
Mihir – one of five organizers listed on the official website said he was “90% confident” the campaign to place the mascot on the giant LED Las Vegas Sphere for an entire week would come to fruition.
NBA Ads on Las Vegas Sphere | Source: Akash Gupta
Mihir said Sphere representatives came up with the “crypto-specific” clause after hearing about the campaign, adding that there have been internal meetings to develop a crypto-related policy to responded to this initiative.
“We are still working with them to match their criteria and requirements,” he added.
He declined to comment further on the specifics of the discussions with Sphere due to concerns that it could impact ongoing negotiations or promote unnecessary speculation about WIF's price.
Mihir added that there was a small chance that the deal would still fall through due to doubts about the request that the WIF community or partner companies could not agree to, but said that so far this “hasn't happened.” .
A spokesman for The Sphere declined to comment.
Dogwifat supporters have been waiting since March
In recent weeks, many contributors to funding the crowdfunding initiative have expressed some concerns about the lack of communication from the organizers regarding progress and how the funds raised will be handled contribute if discussions fail.
Mihir said all funds will be refunded to all sponsors if negotiations fail for any reason, noting the public message he gave in the Dogwifhat group on the Telegram channel Officially posted on June 18.
“The Sphere plan is still being negotiated. These things take time and we are volunteering our time to work on memes. If canceled, we will notify you immediately and all money will be returned,” he wrote.
Source: Telegram
Mihir also said he “wanted to dispel rumors” that the team may not be allowed to use the official image of the WIF mascot – a dog named Achi – for copyright reasons.
“The image may or may not be copyrighted, but we are working with the dog's owner on other initiatives and they are happy about the meme.”
Original image by Achi | Source: Instagram
On March 18, anonymous trader Gigantic Rebirth (also known as GCR) acquired a one-of-a-kind NFT of the original Achi image for $4.3 million.
Mihir noted that he and other members of the Sphere WIF team still keep in touch with Achi's owners, adding that the owners even lent them a pink knitted hat remade from original image.
The organizers of the crowdfunding campaign include famous trader Ansem and four other anonymous members of the WIF community whose X (formerly Twitter) accounts are publicly posted on the campaign's official website.
WIF is currently the 46th largest cryptocurrency by market capitalization, despite being down more than 62% from its all-time high of $4.83 on March 31.
At the time of writing, WIF is trading for $1.84 and has a market capitalization of $1.83 billion, up more than 1,000,000% from its launch late November last year.
Source: Tradingview