So is the hype real, are they going to fight, or has this been one big joke being played on Conor McGregor? 

Apparently it is going to happen. Floyd Mayweather clears up the rumors about a possible boxing match with UFC star Khabib Nurmagomedov, telling TMZ Sports,

This is great for boxing, but not great for MMA. Every time the UFC finds it’s next star, they lose out on the revenue so they can box Floyd and make bank. 

It’s about time the UFC paid the top tier guys more money so they don’t want to look else where for huge paychecks.