Iggy Azalea Announces Telecom Company, MOTHER Token Phone Purchases
Iggy Azalea is officially re-launching her own telecommunications company that will see users be able to purchase phones using her crypto token MOTHER, the Australian rapper announced Sunday.
Iggy Azalea Launching Telecom Company With MOTHER Token Access
“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,” Azalea said on Sunday. “Ad campaign n rollout to follow late this week.”
In an additional X post Sunday, Azalea claimed that Unreal Mobile offers “a selection of phones for purchase if needed” but noted that it was “secondary in nature.”
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. Exciting 🙊
— IGGY AZALEA (@IGGYAZALEA) June 9, 2024
Boston-based Sphere Labs is said to be 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 telecommunications company relaunch follows just weeks after she unveiled her own cryptocurrency token amidst a frenzy of celebrities launching their own meme coins including Caitlyn Jenner, Rich The Kid, and more.
However, alleged crypto scammer Sahil Arora, who was supposedly behind the development of a number of high-profile tokens in recent weeks, committed several pump-and-dump schemes that ultimately swindled each crypto’s purchasers.
“This guy pretty much made a pump-and-dump and dumped all the money into his account and blocked me,” Rich The Kid said of Arora in a video posted to X May 27 while discussing his RICH token.
Arora has since launched an underperforming IGGY coin seemingly based off Azalea, though she has denied any connection to the meme coin.
“Sahil baby take your L and go already,” the Australian rapper said on May 28.
MOTHER Token Hit With Insider Activity Claims
Several of the recently launched celebrity tokens have since dropped in value, though Azalea’s MOTHER coin has done just the opposite.
According to blockchain data company Bubblemaps, most celebrity-launched cryptocurrencies “end up worthless and are often plagued by insider trading.”
We found huge insider activity on $MOTHER 🚨
Insiders bought 20% of the supply at launch, before Iggy Azaela (@IGGYAZALEA) made the announcement, and already dumped $2M.
A thread 🧵 ↓ pic.twitter.com/tQFHt1yZfO
— Bubblemaps (@bubblemaps) May 29, 2024
MOTHER has been no stranger to such claims, with Bubblemaps claiming that insiders purchased an estimated 20% of the coin’s supply at launch before dumping a significant portion of it after.
“Because this is my concept/coin – I’m somehow supposed to bare responsibility for what random ppl do with their wallets,” Azalea said in reply to the claims. “When in reality them dumping only makes it harder for me to achieve my goal of having a coin that is actually part of pop culture.”
Despite the mobile payment business being crypto-friendly, pricing options for Azalea’s new telecom company are yet to be unveiled.
