Australian rapper Iggy Azalea and her cryptocurrency enterprise, the Mother Iggy (MOTHER) token, have garnered vital consideration within the crypto business on account of its speedy reputation and a greater than 140% spike in its first week of buying and selling.
Nevertheless, after its preliminary surge, the token skilled a considerable value correction, resulting in a decline from its file value of $0.2490, reached on June 6. On Friday, the token retraced to as little as $0.1155 after reaching its file excessive.
In a latest social media submit on Sunday, Iggy Azalea revealed plans to revive a co-founded telecommunications firm, triggering a 27% surge within the MOTHER token’s price and doubtlessly signaling a continuation of the latest uptrend.
Iggy Azalea MOTHER Tokens Accepted For Telephone 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 fee infrastructure for these transactions, whereas Unreal Cellular will present the telephone companies.
Azalea talked about that customers can have entry to a collection of telephones for buy. She additionally revealed that the corporate can have an promoting marketing campaign and a launch later this week. Azalea additional said:
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. However don’t neglect that is only a handy aspect mission for me and never my fundamental imaginative and prescient for what is going to drive mom.
From Rip-off Menace To Crypto Imaginative and prescient
Based on a report from Fortune Journal, the launch of Mom Iggy’s token was unintended and strategic. Azalea took motion after discovering a scammer on Telegram utilizing her title to launch a memecoin. Decided 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 initiatives. Memecoins resonated along with her as they aligned along with her familiarity with viral content material and memes all through her profession.
Opposite to the detrimental notion surrounding celebrity-backed cash, Iggy Azalea emphasised her intention to determine long-term utility for the MOTHER token. The Australian singer sees the “superstar buzz” as a possibility for the retail business to have interaction with the Solana blockchain.
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Along with integrating along with her telephone information supplier startup, Azalea intends to combine MOTHER tokens as a gifting and crowdfunding platform. In the end, her purpose is to show Mom Iggy right into a stablecoin, which she considers the “holy grail” of accomplishments.
The MOTHER token is presently buying and selling at $0.1897, indicating a 20% decline from its file ranges. The token has noticed a 25% buying and selling quantity previously 24 hours, reflecting ongoing market exercise and investor curiosity.
Featured picture from Shutterstock, chart from TradingView.com