Dogwifhat has abandoned its plan to advertise at the Las Vegas Sphere venue, and the team is refunding nearly $700,000.

PANews reported on April 2nd, according to Decrypt, that the Dogwifhat organizers have abandoned their plan to advertise at the Las Vegas Sphere venue. Previously, the project raised nearly $700,000 worth of crypto assets for fundraising, but after more than a year, it ultimately failed. In late January this year, the official X account of the Token hinted that "this hat-wearing dog" would appear on the exterior of the venue in the first quarter of 2025. Late Monday night, organizer GamesMasterFlex (also known as Edward) announced on the X platform the termination of the Dogwifhat advertising plan, with refunds to donors starting as early as Tuesday; this statement was shared by the official X account of the Token. Edward once stated that the team had reached an agreement with a "fashion brand partner" to display the Dogwifhat logo at the spherical venue. The relevant news from the official X account of the Token was confirmed and then retracted, ultimately only hinting that the dog image would appear on the shell of the sphere in the first quarter of 2025. However, days later, a spokesperson for the spherical venue denied having signed any agreement, stating that they only accept advertisements related to Crypto Assets exchanges and Bitcoin, and had never reached a deal with Dogwifhat, nor do they have any plans for display now or in the future. The misuse of their name for fraud is infuriating. Edward claimed that this statement "scared off" the fashion brand partner, who was concerned about the wording like "infuriating" and "fraudulent intent" in the venue's statement. After the official refutation, the Token WIF plummeted 18% the next day, and Edward indicated that this led to concerns from partners about advertisements potentially affecting the Token's price and drawing SEC attention, ultimately resulting in the collapse of the partnership.