Evren Oarsman
staff picks 10 JUN 2024  33

Iggy Azalea's Bold Foray into Cryptocurrency: Defending Mother Iggy

In an interview with Fortune, which took place recently, the Australian rapper defended her meme cryptocurrency MOTHER. She says that rug pulling is not her thing and that she wants sustainable use cases for her digital money. The main goal of Azalea is to make sure her meme coin converts to a stablecoin.

Azalea gained fame in 2014 with her hit single 'Fancy.' She has been observing the crypto market since 2020 before launching her coin. The tipping point came when a fraudster tried to promote another meme coin using her identity.

The Rise of Mother Iggy

Mother Iggy took off at the end of May and gained fast-paced notice because of great progress and Azalea’s many activities on social media. Following a bulk purchase by one big fish, the Solana-based market cap of MOTHER skyrocketed to almost $250 million. Currently, though, it does not make sense why someone would place value on Iggy Azalea’s token which is similar to several other meme coins that exist.

However, the enthusiasm circling the MOTHER tingled the senses of fans as well as critics. Among the critics, Ethereum co-founder Vitalik Buterin criticized the celebrity meme coins currently gaining popularity without offering any utility. In turn, Azalea replied through the help of a meme, signifying that peace does not sell in meme-coins, and asking her critiques’ to keep off.

Azalea's Long-Term Vision

Azalea sees beyond the mere meme coin route for Mother Iggy. Her sights are set on establishing it as a stablecoin that will entail more stable and useful application scenarios. This sets her apart from other celebrities who got into cryptocurrencies.

MOTHER Could Use Cryptocurrency Staking?

Cryptocurrency staking involves holding and locking up coins to support network operations. Holders receive a reward for doing so, drawing many investors to consider it as an option. Platforms such as CryptoHeap have gained popularity because they provide various staking opportunities across multiple cryptocurrencies. If she explored staking, Azalea might provide more perks to Mother Iggy’s holders, as this would be in line with her intention to make her crypto more gainful. It is possible that combining them would increase the worth of the coin and make it attract a larger audience who would like to stake their cryptocurrencies.

The Future of Mother Iggy

It’s evident how much Azalea wants to secure Mother Iggy’s future; she always looks for innovative strategies that can improve its productivity and esteem, such as converting MOTHER token into a stable coin aiming at paving the way for other coins to serve as a stable platform or provide a more stable digital currency. In addition, integrating cryptocurrency staking platforms could further solidify its position in the crypto market. Despite the criticism, Azalea remains determined to prove false critics wrong by making Mother Iggy a significant player in the crypto space.