In early 2024, a group of crypto enthusiasts ignited an unusual campaign: raise funds to advertise Dogwifhat (WIF), a popular Solana-based meme token, on the outer shell of the futuristic Las Vegas Sphere. That dream seemed almost real when the project crowdfunded nearly $700,000 worth of crypto within days. The goal was ambitious but charming – putting a dog wearing a knitted pink hat on one of the most visually advanced venues in the world.
Backers were promised that the hat-wearing pup would light up the Sphere sometime in Q1 2025, with murmurs of fashion partnerships and secret contracts adding fuel to the hype. But like many viral campaigns that climb too high, this one has now crashed hard. The team behind WIF confirmed on Monday that the plan is officially over.
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Controversy Over “Fraudulent” and “Distressed”
The unraveling didn’t happen overnight – signs were visible by early January 2025. At first, an unnamed “fashion partner” was brought into the picture. Organizers believed they had secured a deal to display the Dogwifhat logo on the Sphere. The announcement sparked short-lived excitement across social media, with WIF’s official account joining in the teasing, signaling a Q1 appearance.
However, the excitement quickly cooled off after the Sphere spokesperson said:
“We have never had a deal with Dogwifhat, and our agency at the time only had one very preliminary conversation early last year.”
The spokesperson went on to describe the campaign’s use of the Sphere name as “fraudulent” and said they were “distressed” by how the brand was being portrayed. Those two words – “fraudulent” and “distressed” – spooked the fashion company.
According to organizer Edward, better known online as GamesMasterFlex, the public denouncement led the partner to pull out over potential legal and reputational risk.
Looking For Alternatives
Shortly after the statement dropped, the token nosedived. Dogwifhat lost 16% in a single day, shaking confidence and scaring off collaborators. Apart from this single-day decline, the token has already been down 59% on a monthly frame.
Edward revealed that the breakdown in trust raised alarms about how token volatility could raise regulatory concerns, especially with the U.S. Securities and Exchange Commission (SEC) watching the crypto space closely.
With the fashion route closed, organizers scrambled for alternatives. They tried to connect with artists and DJs scheduled to perform at the Sphere, hoping to slip the dog-themed visuals into their sets. Another agency came forward, allegedly boasting ties to Sphere CEO James Dolan and pitching an art-based approach – just a hat, fully wrapping the Sphere.
“I didn’t want to give up. So I took it upon myself to try and work with an artist or DJ playing at the Sphere… unfortunately, it wasn’t possible to execute in time.”
Refunds Start After a Year of Waiting and Online Frustration
With Q1 2025 now at the finish line and no deal in sight, the team pulled the plug. On Monday night, Edward officially announced that refunds would begin rolling out on Tuesday.
The funds – about $697,800 in USDC – remained traceable throughout the ordeal. They sat visible on Solscan, the Solana blockchain explorer, inside a multisig wallet. At one point, the funds were moved out, raising eyebrows, but they were returned within two weeks, likely after a failed attempt to secure the fashion contract.
Refunds will be automatic for contributors who sent crypto directly. Those who donated from centralized exchanges will need to manually verify their contributions. Organizer Mihir is overseeing the refund process.
“You’ll see refunds going out from [Tuesday]. The hat stays on.”
Final Words: No Sphere, But Still a Meme
For Edward, the failure still leaves room for pride. The campaign might not have hit its mark, but the team stayed honest. No one disappeared with the money. The blockchain ledger told the story every step of the way.
The dream of a pink hat lighting up Vegas might be gone, but Dogwifhat remains very much alive. And according to Edward, so does the spirit behind it.
“I know it’s been a frustrating year, but at least we can say we gave it our best shot. The hat stays on.”
Read also: ACT Memecoin Crashes 50% In a Single Day
