Just hours into the token sale, the WorldLibertyFi Token, led by the former President of the United States, Donald Trump, has fallen short of expectations. The project’s team projected to raise $300 million in an ambitious plan while offering 20 billion $WLFI tokens at 1.5 cents each.
Hours since the highly publicized $WLFI token sale got underway, the project has only managed to raise a total of $10.8 million. This amount constitutes just 3.4% of the token’s fundraising goal.
This slow start has cast doubt over the appeal of the project and raised concerns about investor sentiment toward crypto ventures backed by celebrities. Given the already brittle market conditions, less-than-stellar premiere of the token sale alludes to the fact that not even high-profile associations guarantee success.
Did Technical Issues Slow Down Participation?
The launch of the $WLFI sale, which started off on 15th October, was pretty problematic. The project’s website crashed just hours into the sale. These hitches might have dampened participation during the vital first hours.
Nonetheless, the token sale still has managed to raise $10.86 million from the sale of 724.73 million tokens. Although it’s a good figure, it still falls far from the amount many would have expected from such a high-profile launch.
Red Flags From the Weak Investor Participation
Despite huge expectations from the WorldLibertyFi Token and the general crypto community, not as many wallet addresses are holding the token. According to Etherscan, a total of 6,832 wallets hold the token, which is a hint of weak interest from the broader crypto community.
This turnout strongly contrasts with the over 100,000 users the team claimed to have signed up for the token sale. The discrepancy in projected interest and actual participation might indicate defects in the marketing strategy or misjudgment of investor sentiments.
The mediocre performance of the $WLFI token sale shows that people are growing skeptical of celebrity crypto projects. While investors are getting increasingly wary, for the most part, their skepticism is related to the fundamental aspects of the project and has nothing to do with celebrity endorsement.
Recently, celebrity projects have come under greater scrutiny, and clear use cases and a roadmap of concrete implementation have been in demand. The initial struggle of $WLFI itself has already hinted at this trend that might be expected in future celebrity-led projects.
Major Challenges Ahead for $WLFI Team
Having raised only 3.4% of its target so far, the $WLFI team should take all possible action to solve the technical issues faced on day one of the token sale. The WorldLibertyFi Token team should also improve the outreach strategy to sustain investor interest.
The next few days are crucial since this project desperately seeks to build momentum to restore potential investors’ confidence.
How well the $WLFI team handles these early setbacks will probably determine the success of the token sale. Their response will also impact the broader perception of celebrity-linked crypto ventures within an increasingly skeptical market.
