On Sunday, Australian rapper Iggy Azalea announced the official relaunch of her telecommunications company, where users can buy phones using her cryptocurrency token MOTHER.
Iggy Azalea Launching Telecom Company With MOTHER Token Access
“On Sunday, Iggy Azalea announced, ‘Tomorrow I’m finally relaunching the telecommunication company I co-founded and you will be able to purchase phones, or month to month cell plans using $MOTHER or Sol. Ad campaign n rollout to follow late this week.’
In an additional Sunday post, Azalea stated that Unreal Mobile offers ‘a selection of phones for purchase if needed’ but noted that it was ‘secondary in nature.’
Boston-based Sphere Labs is reportedly handling the company’s payment infrastructure systems.
Following the Australian rapper’s announcement, MOTHER was up by 25% as of Monday morning.”
A Celebrity Meme Coin Frenzy
News of Azalea’s telecom company relaunch emerges just weeks after she introduced her own cryptocurrency token amidst a wave of celebrities launching meme coins, including Caitlyn Jenner and Rich The Kid.
However, alleged crypto scammer Sahil Arora, purportedly linked to the creation of various high-profile tokens, has been accused of orchestrating pump-and-dump schemes, deceiving investors.
Rich The Kid, commenting on Arora’s actions in a video posted on X on May 27 regarding his RICH token, expressed frustration, stating, “This guy pretty much made a pump-and-dump and dumped all the money into his account and blocked me.”
Arora has now introduced an underperforming IGGY coin seemingly inspired by Azalea, although she has distanced herself from the meme coin, asserting on May 28, “Sahil baby take your L and go already.”
MOTHER Token Hit With Insider Activity Claims
Several recently launched celebrity tokens have seen a decline in value, but Azalea’s MOTHER coin has bucked the trend.
According to blockchain data company Bubblemaps, most celebrity-backed cryptocurrencies “often become worthless and are frequently marred by insider trading.”
MOTHER hasn’t escaped such scrutiny, as Bubblemaps alleges that insiders bought around 20% of the coin’s supply at launch, only to dump a significant portion later.
Responding to these allegations, Azalea stated, “Because this is my concept/coin – I’m somehow supposed to bear responsibility for what random people do with their wallets. When in reality, their dumping only makes it harder for me to achieve my goal of having a coin that is actually part of pop culture.”
Despite Azalea’s new telecom company being crypto-friendly, pricing options have yet to be revealed.
