The memecoin will allow holders to purchase smartphones and mobile phone subscriptions.
Azalea announced that MOTHER token holders will soon be able to purchase phones or monthly cell plans from her Australian telecommunications company called Unreal Mobile using the token or Solana.
Azalea announced that she is relaunching her telecommunications company and is enhancing the token use case, which was released a month ago with added utility. The update is made possible through a partnership with Sphere Labs, a payment infrastructure provider that will assist in integrating crypto payments.
Unreal Mobile offers various plans priced between $20 and $80 per month, depending on data usage and network preferences.
Following the announcement, the MOTHER token rose over 30% in the 24 hours to $0.1958 according to CoinMarketCap data. The coin has garnered a $144 million market cap.
MOTHER skepticism
Azalea and her MOTHER coin have had their share of controversy. The coin was released in May, and volatile trading occurred over its first weeks of trading. Many believe Azalea is joining the growing wave of celebrities and influencers using crypto for cash grabs.
— TylerD 🧙‍♂️ (@Tyler_Did_It) May 29, 2024Iggy Azelea has pulled off a successful stealth memecoin launch 🤯
About 2.5 hours ago a token named $iggy launched, briefly spiked to $4-$5M then sold off.
At the same time a token named $MOTHER launched.
Iggy tweeted it out about 30 minutes ago & it has soared to a $15M mc pic.twitter.com/GexTU81rSZ
Azalea rejected this sentiment, promising use cases for her coin, including a “Mother Store” where holders can utilize their token for merchandise, like shirts and hats. In reaction to rug pull accusations, Azalea has also promised a burn rate for her coin.
In May, a person named Sahil Arora created a cryptocurrency called IGGY, trying to exploit Azalea’s popularity, and ended up stealing millions. In response, Azalea distanced herself from Sahil’s IGGY coin.
Azalea alluded that the mobile venture will be released later this week, with news to come.