Mother fire, decoding celebrity Meme success studies
Can Iggy and MOTHER break the trend of celebrity currency?Author: TPAN
Compiled by: Shenchao TechFlow
Today's article focuses on the controversial memecoin of the past week------$MOTHER. By analyzing Iggy Azalea's strategy, we might learn something, perhaps just perhaps, there is more to explore with $MOTHER. This article details the current state of celebrity coins and how Iggy Azalea has made her memecoin MOTHER stand out through continuous investment in the project.
What are Celebrity Coins and MOTHER?
Celebrities have been involved in cryptocurrency and Web3 for a long time, often associated with scams and "rug pulls." A few years ago, when NFTs were popular, many celebrities seized the opportunity but failed to maintain their involvement, and now they hardly engage in the NFT space. For example, Cristiano Ronaldo's exclusive NFT collection on Binance sold for only $9,000 as of yesterday.
As NFTs fell out of favor, memecoins quickly filled the gap. With tools like pump.fun, anyone can easily issue a memecoin. Naturally, celebrities seized this opportunity to make quick profits.
In the past week and a half, we have witnessed a wave of celebrities entering the space:
Caitlyn Jenner (May 26)
Rich The Kid (May 27)
Iggy Azalea (May 28)
Moneybagg Yo (post deleted)
Lil Pump (May 29, post deleted)
Trippie Redd (May 29, post deleted)
Davido (May 29)
So, how did they perform?
Iggy's MOTHER coin is an exception, with a market cap of $191 million as of the writing of this article.
Wait, who is Iggy Azalea?
Iggy Azalea is a beloved Australian female rapper of the 2010s, known for hit singles like "Fancy" and "Black Widow."
Why have other celebrity coins performed poorly while MOTHER has steadily risen during the same period?
The simple answer is: She has remained invested in the project.
Almost all of these celebrities abandoned the tokens they issued (while selling tokens and making six to seven figures), with many exiting on the first day.
I know it's ridiculous to call a celebrity who launched a memecoin 10 days ago "invested." Most New Year's resolutions last longer than 10 days, haha. But in a world where we often view things in absolute terms, relatively speaking, this is actually (sadly?) impressive. This cannot be overlooked.
How has Iggy remained invested in this space?
Just a reminder: we are discussing in relative terms; Iggy is a newcomer.
Iggy's X account focuses on MOTHER
Check out her X account, it is all about MOTHER, and she deleted all posts prior to May 29, the day the token was launched. It sounds simple, but remember she has 7.6 million followers and has posted 2,245 times about MOTHER (including retweets, quotes, etc.).
Driving her traffic to the celebrity coin
While X is the main focus because it resonates with her audience, Iggy also placed a link to MOTHER's Telegram channel on her Instagram and paused her OnlyFans to direct fans to the Telegram channel.
(By the way, she is one of the highest-earning OnlyFans creators, which is impressive)
Engaging with the community
Iggy has appeared in several community Spaces. I happened to listen to one (starting from the 12-minute mark) and had to admit she seemed genuinely sincere. Here are some key points:
She learned more about cryptocurrency and Web3 from her business manager but wonders, "What more is there?"
By bringing her friends on board, she shared valuable insights about friction points. If you are developing consumer wallets or trading products, this might be a point worth doubling down on:
How to buy Solana?
What is slippage?
She plans to collaborate with bigger celebrities through her manager
She hopes to focus on other revenue sources besides selling tokens, as selling is unsustainable
Two non-crypto projects (mobile network and digital gifting/crowdfunding) will be launched in the coming weeks, both integrating crypto payments, including MOTHER
She grew up in the digital world, chatting online and browsing music forums during lunch breaks
Plans to attend Solana Breakpoint
In Telegram chats, Iggy frequently interacts with the community and responds with voice messages.
She will also appear on the Threadguy podcast releasing tomorrow.
Leveraging the misbehavior of peers
Last week, Iggy launched an initiative where she would burn some of her own tokens if any celebrities sold their memecoins. Earlier today, Hulk Hogan became a new member of this club, which means one thing:
Burn proof transactions
This initiative turns a completely negative event into one that has a positive impact on different communities. Making the best out of a bad situation, right?
The results are yet to be seen
With a plethora of low-quality celebrity coin scams emerging, they should naturally be viewed with skepticism. Vitalik and Hayden Adams have both expressed opposition to this latest trend, and I agree with their views.
Interestingly, Iggy has just launched the MOTHER website, where merchandise can only be purchased with MOTHER. This is one of many steps to push things in the better direction that Vitalik mentioned.
Can Iggy and MOTHER break the trend of celebrity coins? It has only been 10 days, and time will tell us the answer.
