Iggy Azalea promotes her MOTHER token, says it will allow the purchase of smartphones – DiarioBitcoin
By Hannah Perez
The meme cryptocurrency launched by star Iggy Azalea can be used to buy smartphones and phone plans, the singer promised.
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- Australian rapper Iggy Azalea launched her own memecoin just over a week ago
- Initially useless, he has promised that his MOTHER token can be used for payments
- Azalea said that users will be able to pay for equipment and telephone plans at their telephone company
- MOTHER rose another 15% after the announcement, amid a nearly 1,000% rise
Australian celebrity Iggy Azalea is taking the cryptocurrency space by storm since releasing her own to the public. memecoin called “MOTHER” at the end of last month.
A few weeks after the launch of his tokenthe singer and model has announced her intentions to make MOTHER have a future use: allowing its owners to use it to buy smartphones.
In a post on his account x (previously Twitter), Azalea confirmed to her more than 7.5 million followers the relaunch of her telecommunications company and the next incorporation of the MOTHER token as a payment option for the purchase of mobile phones and monthly mobile phone subscription plans.
The star added that users will also be able to use SOL from Solarium for purchases. “The launch of the advertising campaign will take place at the end of this week. Exciting“, wrote. The announcement about the new use case for its own digital currency comes after it received some criticism and questions about its motivations behind the initiative.
MOTHER, which is based on Solariumrose more than 16% following the announcement, continuing a sustained bullish streak that has resulted in a gain of more than 830% since its launch in late May.
Iggy Azalea sweeps away with her own memecoin
In less than two weeks, Azalea’s cryptocurrency has become an asset worth $180 million in market capitalization as the rapper uses her social media to aggressively promote the initiative.
The Grammy-nominated artist issued her own meme digital currency taking advantage of her massive mass of fans and followers, and amid the latest frenzy over memecoins in the market. Like many others of her type, MOTHER does not claim to have any value proposition and the singer has assured that the intention is purely for entertainment.
Some musicians and artists have adopted the tokens non-fungible (NFT) as mechanisms to connect with fans by allowing them to receive royalties or payments from the sale of their albums. Other celebrities, primarily from the sports sphere, have also launched fan tokens, which give holders voting rights for a team.
Azalea’s MOTHER, on the other hand, offered none of these things, which has led to some criticism about its use for personal enrichment by the singer.
Vitalik Buterin, the creator of Ethereumis one who has downplayed the project in his broader criticism of meme tokens inspired by or created by celebrities. —a growing trend in the ecosystem.
“I’m pretty unhappy with “this cycle’s celebrity experimentation” so far. “Financing as a means to an end“I can respect if the end is worthy (health, open source software, art, etc.)“he wrote in x last week. He also indicated revulsion at the “financialization as a final product” with a vomiting emoji.
Azalea has taken these comments lightly. In response to Buterin, she posted a photoshopped image depicting her breastfeeding a Buterin baby. “I was just hungry“he added. The singer has also emphasized that the motivation is not money and that it is about people “enjoy the game” as if they were in a casino.
At the time of publication, MOTHER is trading at USD $0.1801, according to data from CoinMarketCap.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
