Iggy Azalea’s cryptocurrency token turns crypto trader into millionaire

The risqué female rapper’s latest cryptocurrency token is already making people millionaires, but is this a good thing?

MOTHER, a crypto token by Iggy Azalea’s latest shot at greatness and first stab at the blockchain industry, has already turned one lucky investor, who plonked down $3,000 on the token, into a million with a $9 million payout. The token’s value increased by 90% in the past 24 hours, and currently sits at more than $200 million in market capitalization.

The price of the token has been holding steady at $0.2124 at the time of reporting, and double-digit increases. The token was launched over a week ago and promoted to the rapper’s eight million followers on X, a social media platform, prompting a bit of an early buyout flurry.

Yet, nobody could have suspected the rise of Mother Iggy, as the token was generally chalked up to a meme coin that would hold no real value. Not for the person who turned their $3,000 into a $9 million payday. MOTHER will bust – this much is certain, but the question is how far from gamblers are willing to take it.

The token is tied to Pump.Fun, which is a company that produces crypto tokens. MOTHER, though, is not designed to mislead investors. There is no real value there whatsoever and neither the company nor the rapper have ever claimed so. People are just snapping it, it seems, in a bid to strike a big payday.

The coin’s value is based purely on how much demand there is for it and how popular it is proving with players. Yet not everyone is happy with the outcome. Vitalik Buterin, Ethereum Founder and CEO, criticized the trend of launching celebrity tokens with immediate short-term financial gain as its own end.

Yet, Azalea has not really been happy about this remark, and she actually “shit posted” about him, showing him as an infant that was suckling on his mother teat, and yes – the mother was Azalea herself. The snappy retort was accompanied by an enlightening clarification: “He was just hungry.”

More importantly, the big payday generated from MOTHER, a token that has never pretended to have any meaningful value, puts the value of cryptocurrencies in question, and whether this is a sustainable way of enriching one’s self and the subsequent damage it could wreak across the economy.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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