UFC fighter Conor McGregor has publicly criticized former rival Khabib Nurmagomedov for a recent NFT launch that celebrated Dagestan’s culture. McGregor's comments were countered by blockchain analyst ZachXBT, who reminded him of his own prior failed NFT project. This exchange highlights the ongoing challenges faced by NFTs and meme-based cryptocurrencies within the current market environment.

Key Takeaways

Conor McGregor criticized Khabib Nurmagomedov over his NFT collection, which included traditional Dagestani hats.
ZachXBT reminded McGregor of his own failed NFT project, REAL, which struggled to meet funding goals.
The NFT and memecoin markets are facing significant downturns, with memecoins particularly suffering in value since 2024.

Conor McGregor calls out Khabib over NFTs, gets shut down by ZachXBT

McGregor’s Criticism of Khabib’s NFT Collection

Conor McGregor, a well-known UFC star, expressed disdain for Khabib Nurmagomedov's recent NFT drop on Telegram. This collection included digital depictions of traditional "papakhas," a hat worn in Dagestan, Khabib’s homeland. In a now-deleted post on social media platform X, McGregor stated, “There is just no way good guy Khabib used his late father’s name, as well as Dagestan’s culture, to scam his fans and fire sell a bunch of digital NFTs online.”

Memecoin

ZachXBT's Response

Blockchain investigator ZachXBT quickly countered McGregor's claims by highlighting that McGregor attempted to release his own celebrity memecoin called REAL back in April. This token was sold through a sealed-bid auction format to prevent price manipulation by automated bots. However, the project only managed to raise 39% of its target goal.

According to McGregor, the funds raised were subsequently returned to participants after the launch did not meet its objectives, which he attributed to various factors, including a downturn in the crypto market and the ongoing bear phase for memecoins.

The Decline of Memecoins

Memecoins were considered one of the most exhilarating and financially successful areas of the crypto sector in 2024. However, by 2025, this surge came to an abrupt stop. The drop in value coincided with several high-profile projects that either experienced a swift decline or were labeled as rug pulls. Notable endorsements for some of these projects included figures like former US President Donald Trump and Argentina's President Javier Milei.

_The memecoin market has been in decline since December 2024. Source:_CoinMarketCap

As of Friday, the memecoin market cap dwindled to $39.4 billion, marking the lowest point recorded in 2025 and resulting in losses of approximately $5 billion in a single day, according to data from CoinMarketCap.