On Sunday, June 9, MOTHER reached a new milestone of $0.27 before retracing to the current price of $0.18.
The crypto industry has seen a surge of celebrities launching their own meme coins, a shift from the 2021 trend of celebrities dabbling in non-fungible tokens (NFTs). Among the latest entrants is MOTHER, a meme token launched by Australian model and rapper Iggy Azalea towards the end of May.
In a social media post on X, Azalea announced that holders of her meme token will soon be able to purchase a cell phone or pay for a monthly phone plan using MOTHER as well as Solana (SOL).
With the success of the meme coin, which currently boasts a market capitalization of around $300 million, Azalea revealed she plans to relaunch a telecommunications company she co-founded to allow users to pay for phones and utilities using the meme coin.
This ambitious plan comes barely a month after the token’s official launch.
Launch of Unreal Mobile
In a follow-up tweet, Azalea unveiled the name of the telecom company to her 7.6 million followers: Unreal Mobile. According to the company’s website, its phone plans range from $20 to $80 per month, depending on data usage and network spectrums.
Responding to comments suggesting collaborations with brands like Helium Mobile, Azalea clarified that Unreal Mobile is a service provider and does not require such partnerships.
The Australian celebrity further noted that there would be “a selection of phones for purchase if needed, but it’s secondary in nature.” She has also selected Sphere Labs to serve as the payment infrastructure for the phone and mobile plan purchases.
Since the launch of the meme coin on the Solana ecosystem last month, Azalea has been working to ensure that the meme coin has enough utility to improve its price.
On June 7, a member of the crypto Twitter community disclosed that the Australian rapper is exploring the possibility of launching a MOTHER merchandise store, where goods would be paid for using the meme coin.
Overcoming Challenges and Building Trust
The launch of MOTHER comes after Azalea distanced herself from a popular celebrity meme coin influencer accused of fraud. The influencer Sahil Arora allegedly worked with various celebrities to promote fake meme coins associated with them, which were later accused of being rug pulls and pump-and-dump scams.
To clear her name, Azalea launched her own token, MOTHER.
Despite the controversy, the token has performed remarkably well compared to other memes in the industry including Andrew Tate’s coin RNT.
On Sunday, June 9, MOTHER reached a new milestone of $0.27 before retracing to the current price of $0.18 at the time of writing.
They used to laugh at me rapping n I got a number 1 single for 9 weeks straight.
I could bet I know where this is headed…
Laugh now, cry later I’m certain.
🤷♀️🙊✨— IGGY AZALEA (@IGGYAZALEA) June 10, 2024
Azalea, on the other hand, has seen remarkable success on her music album since the launch of MOTHER, indicating a positive reception from her fanbase.
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