Iggy Azalea Introduces Telecom Company, MOTHER Token Phone Purchases
Iggy Azalea has revealed her latest venture in the telecommunications industry, offering users the opportunity to buy phones and plans using her crypto token, MOTHER. The Australian rapper made the announcement on Sunday, marking the official relaunch of her telecommunications company.
Azalea shared her excitement about the upcoming launch, stating that customers will soon have the option to purchase phones or monthly cell plans using $MOTHER or Sol. She also teased an upcoming ad campaign rollout later in the week.
In a recent social media post, Azalea mentioned that Unreal Mobile will provide a selection of phones for purchase if needed, although it is considered a secondary offering. The company’s payment infrastructure systems will be managed by Boston-based Sphere Labs.
Following the announcement, MOTHER experienced a 25% increase in value by Monday morning.
A Wave of Celebrity Meme Coins
Azalea’s telecom company launch comes on the heels of her introduction of her own cryptocurrency token amid a wave of celebrities creating meme coins. Notable figures such as Caitlyn Jenner and Rich The Kid have also joined the trend.
However, concerns have been raised about crypto scammer Sahil Arora, who allegedly engaged in pump-and-dump schemes that defrauded investors of various celebrity tokens. Rich The Kid, in particular, expressed frustration over Arora’s actions with the RICH token.
Despite launching an underperforming IGGY coin supposedly inspired by Azalea, the rapper has distanced herself from any involvement with the meme coin.
Challenges with Insider Activity Claims
While many celebrity-launched cryptocurrencies have faced declines, MOTHER has shown resilience in the market. However, claims of insider trading have surfaced, with allegations that insiders acquired a significant portion of the coin’s supply at launch and subsequently sold off a large portion.
Azalea responded to the claims, emphasizing her desire for MOTHER to be a legitimate part of pop culture and expressing frustration over the impact of insider trading on her goals.
Though Azalea’s telecom company is poised to embrace crypto payments, pricing details have yet to be disclosed. Stay tuned for further updates on this exciting new venture.