Australian rapper Iggy Azalea and her cryptocurrency enterprise, the Mother Iggy (MOTHER) token, have garnered vital consideration within the crypto business because of its fast reputation and a greater than 140% spike in its first week of buying and selling.
However, after its preliminary surge, the token skilled a considerable value correction, resulting in a decline from its document value of $0.2490, reached on June 6. On Friday, the token retraced to as little as $0.1155 after reaching its document excessive.
In a latest social media publish on Sunday, Iggy Azalea revealed plans to revive a co-founded telecommunications firm, triggering a 27% surge within the MOTHER token’s price and probably signaling a continuation of the latest uptrend.
Iggy Azalea MOTHER Tokens Accepted For Phone Purchases
In her social media post, Azalea revealed plans to resurrect a co-founded telecommunications firm, permitting MOTHER and Solana (SOL) token holders to make the most of their tokens for buying telephones or month-to-month cell plans.
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Azalea additionally revealed that know-how firm Sphere Labs will deal with the cost infrastructure for these transactions, whereas Unreal Mobile will present the telephone providers.
Azalea talked about that customers can have entry to a choice of telephones for buy. She additionally revealed that the corporate can have an promoting marketing campaign and a launch later this week. Azalea additional acknowledged:
Roll out marketing campaign and promoting, and so on. all start and proceed all through the week so that you’ll see me posting extra of that. But don’t overlook that is only a handy aspect mission for me and never my primary imaginative and prescient for what is going to drive mom.
From Scam Threat To Crypto Vision
According to a report from Fortune Magazine, the launch of Mother Iggy’s token was unintended and strategic. Azalea took motion after discovering a scammer on Telegram utilizing her title to launch a memecoin. Determined to fight this fraudulent exercise, she launched her token inside a shorter timeframe.
Per the report, Iggy Azalea has been observing the crypto business since 2020 and acknowledged the potential in non-fungible tokens (NFTs) and Web3 artwork tasks. Memecoins resonated along with her as they aligned along with her familiarity with viral content material and memes all through her profession.
Contrary to the unfavourable notion surrounding celebrity-backed cash, Iggy Azalea emphasised her intention to determine long-term utility for the MOTHER token. The Australian singer sees the “celebrity buzz” as a chance for the retail business to interact with the Solana blockchain.
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In addition to integrating along with her telephone knowledge supplier startup, Azalea intends to combine MOTHER tokens as a gifting and crowdfunding platform. Ultimately, her objective is to show Mother Iggy right into a stablecoin, which she considers the “holy grail” of accomplishments.
The MOTHER token is at the moment buying and selling at $0.1897, indicating a 20% decline from its document ranges. The token has noticed a 25% buying and selling quantity up to now 24 hours, reflecting ongoing market exercise and investor curiosity.
Featured picture from Shutterstock, chart from TradingView.com
