The team behind Solana-based memecoin Dogwifhat has dismissed claims that it led investors and donors in its Las Vegas Sphere plan. The team addressed public concerns over the ‘Sphere Wif Hat’ initiative that it embarked on last year via a post on X.
According to records, the crowdfunding campaign, launched by supporters, was supposed to get the token’s logo on the Las Vegas Sphere.
However, the campaign is yet to come to fruition despite seeing about $700,000 days after donations were announced on March 10. The price of the token reacted to the proposal at the time, surging by 25% to hit a new all-time high.
At the time, the campaign was backed by several big traders within the Solana ecosystem, with the official account of the Solana-based memecoin also calling for donations.
Dogwifhat promises to stick to the timeline
According to the X post, Dogwifcoin mentioned that the Wif Sphere campaign organizers have been in talks with several parties to achieve the ad placement goal. According to the account, the team is not a corporate entity, so it needs to collaborate with a brand. “Since the Wif team is not a corporate entity, the organizers are collaborating with an established brand to execute this advertisement,” the account said.
The Wif Sphere organizers have been in ongoing negotiations with various parties to collaborate on the Sphere ad placement. Since the Wif team is not a corporate entity, the organizers are collaborating WITH an established brand to execute this advertisement. Timeline has been…
— dogwifcoin (@dogwifcoin) January 31, 2025
The account also assured donors that the timeline has been agreed upon among all the parties involved in the negotiations. It added that should the campaign no longer go ahead as planned, the contract will be voided, and funds will be returned to donors. “There has been no intent to mislead any parties,” the account added.
The need to clarify activities surrounding the ad placement was because of a Decrypt report that said that a representative of the Las Vegas Sphere denied any agreement to place the Dogwifhat meme coin at the venue. The spokesperson noted that there has never been any deal towards that effect, noting that the venue’s name was being used for deceptive purposes. “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 said.
Controversy trails Dogwifhat’s Las Vegas Sphere ad
The Dogwifhat account also generated controversy after the account posted “Officially confirmed. Viva hat vegas,” alongside the image of an artist rendering the meme dog on the location. A while after, the account deleted the post, generating a buzz among members of the crypto community. It has since updated the post, retaining the artwork and adding a screen displaying “Q1 2025.”
In July 2024, one of the campaign organizers, Mihir, mentioned that he was confident that the campaign was going as planned. He added that the representatives from the Las Vegas Sphere had created new crypto-focused terms after hearing about the campaign. He mentioned that the organizers had met a couple of times to formulate crypto-related policies to conform with the initiative. He mentioned at the time that they were still working to fit things into their criteria.
Mihir did not shed light on the other aspects of the deal at the time, fearing that it might hamper their chances of sealing it.
Meanwhile, users are still not convinced about the memecoin project’s response, noting that the statement is coming almost a year after the fundraising kicked off. Others noted that the organizers had a long time but failed to get anything done.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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