[Market Cooldown Combined with Overvaluation, MetaDAO Faces Its First ICO Failure] BlockBeats news, on February 9, last weekend, Solana ecosystem issuance platform MetaDAO encountered its first ICO failure with the project Hurupay. The project was launched on February 3, 2026, with a minimum fundraising target of $3 million. Ultimately, it only raised approximately $2,003,593 (about 67% of the minimum target). As the required minimum funding threshold was not met, MetaDAO announced the failure of this ICO, and all participant funds were refunded. Community feedback indicates that factors such as overvaluation of the project, unclear team background, and significant changes to the fundraising terms contributed to the failure of this ICO.