In an exciting twist, the craze of celebrities delving into the world of digital currencies has recently taken a surprising turn. Amid a flurry of questions, interest, and controversy, Australian rapper and model, Iggy Azalea, has become the latest star to enter the world of celebrity tokens. Curiously enough, just like her celebrity counterparts who have also plunged into the crypto world, Azalea’s foray was laced with some level of scandal, similar to the dramatic launch of Caitlyn Jenner’s JENNER token.
Azalea’s unexpected demonstration of interest in cryptocurrencies and in Solana, a high-performing blockchain platform, left the crypto community in quite a buzz. Her somewhat unconventional query about the identity of Solana, phrased in a way that confused her fans into thinking she was talking about another woman, gathered over 1.8 million views and kicked up a storm on the internet. After clearing the misunderstanding, Azalea’s foray into the world of crypto grew even louder, attracting scrutiny and subsequent allegations linking her to purported fraudster, Sahil Arora.
In what seems like a plot lifted straight out of a gripping thriller, Arora has been implicated in several high-profile celebrity token launches, which did not end well. Prominent figures, such as rapper Rich The Kid and Olympian Caitlyn Jenner, have denounced him for exploiting them and their loyal fans. Evidently unfazed by these allegations, Arora displays a continued pattern of exploiting unsuspecting crypto investors.
In her attempts to extricate herself from any associations with Arora, Azalea claimed that while he had indeed approached her about crypto, her newly launched token had no connections to him. Azalea found herself amid controversy when Arora allegedly used doctored screenshots and her name to raise a notable $380,000 in a presale for a token bearing her nickname, IGGY. He declared his collaboration with the famous Australian rapper through a popular chat application, Telegram, promising his followers an imminent “mega launch.”
However, Azalea remained one step ahead, and in a move designed to prevent Arora from exploiting her image, she smoothly launched her own Solana-based token called MOTHER. The token, which draws its name from a term that gained popularity in the LGBTQ+ culture and online stan culture, was launched mere hours after Arora’s IGGY token, causing quite the confusion among would-be investors. In response to questions about her sudden launch, Azalea declared that she introduced her token to thwart Arora’s exploitation of her name.
Twists and turns in her delve into the crypto community continued when her fans questioned her ties to Arora upon an Instagram post featuring a man resembling him. However, this mystery man turned out to be none other than Azalea’s own brother, Mathias Kelly.
Standing head to head with Arora’s IGGY, Azalea’s MOTHER token made a splash in the crypto world, hitting a market cap of $50 million at its pinnacle. Its value grew exponentially by 63,000% in the following hours, resulting in an impressive trading volume of $126.8 million. Still basking in a successful launch, MOTHER currently trades at $0.01634, representing a massive surge of 21,000% from its initial price.
Conversely, Arora’s IGGY token did not fare as well. After an initial spike to $0.009288 after launch, the token’s price dropped significantly. Currently, it trades at a disappointing $0.0001354 with a market capitalization of $134,000.
At press time, the Solana (SOL) cryptocurrency, the driving force behind these celebrity tokens, trades at $168.76, turning the spotlight back on its pivotal role in this high-stakes game of celebrity crypto.
