Dogwifhat Las Vegas sphere project faces scrutiny as influencers in charge still hold $700k in donations

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Online traders are closely examining the fundraising initiative aimed at adding a “dog with pink hat” icon to the Las Vegas Sphere for $650,000, as it seems inactive despite exceeding its target. Despite surpassing the goal, the dog with the pink hat has not been seen on the sphere yet.

Users on social media platform X have begun noticing that the project has been inactive for about ten months since it exceeded its fundraising goal. At the same time, approximately $700,000 in USDC (USD Coin) donations remain frozen within a cryptocurrency wallet controlled by a group of influencers.

One user @0xShual on platform X expressed surprise that no one has commented about the project’s inactivity following nearly a year of fundraising, as the icon representing the Las Vegas Sphere (the dogwifhat icon featuring a Shiba Inu dog wearing a pink hat) is still absent from the sphere at this point.

In a recent post, Shual expressed surprise and concern, saying something along the lines of “Seriously though, what’s going on here? It seems like nobody is concerned about this. Not even a petition for a refund has been started, let alone any action. At least put this capital to good use, it’s just been idle for nearly a year now.” This sparked some skepticism among users in the comments section, as they questioned the future of the project.

Indeed, it seemed quite unusual. And the way Ansem essentially admitted defeat had me chuckling out loud,” commented another user.

The massive Las Vegas Sphere, standing at 366 feet tall and stretching 516 feet wide, straddles Sands Avenue, situated a bit east of the Las Vegas Strip near the Venetian resort. This impressive globe is renowned for displaying a multitude of emojis and ads on what’s touted as “the world’s largest LED screen.

In January 2024, a team of five crypto advocates, headed by Zion Thomas (also recognized as Ansem in the crypto realm), initiated a fundraising effort to display the dogwifhat symbol on the Las Vegas Sphere. By March 2024, they successfully amassed enough funds to cover the $650,000 cost associated with showcasing the Solana meme coin icon on the Sphere for an entire week.

Even though the campaign successfully reached its goal several weeks ago, updates have become less frequent and donors are starting to question the project’s authenticity. The most recent update from Ansem was in July 2024, where he humorously suggested that the campaign didn’t succeed because of a blue-screen error and couldn’t deliver the promised dogwifhat on the sphere.

“Damn i can’t believe this happened on the day we put wif on the sphere,” he wrote in his post.

damn i can’t believe this happened on the day we put wif on the sphere 😔

— Ansem 🐂🀄️ (@blknoiz06) July 19, 2024

It’s unclear if the team plans to execute the project, but there’s growing unease among traders as dogwifhat coin dropped by about 45% over the last month, based on crypto.news statistics. Over the past week alone, the meme coin has plummeted by over 18%.

Introduced in November 2023 on the Solana blockchain, dogwhatt is a meme-based cryptocurrency derived from a widely shared online image of a dog adorned with a pink knitted hat. It swiftly garnered attention among investors, achieving a $1 billion market value just 81 days following its release. Currently, the market value of this meme coin hovers around $1.5 billion.

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2025-01-15 16:34