Decoding the success of celebrity memes: How do MOTHERs stand out?

Original author: TPAN

Original translation: TechFlow

Today’s article focuses on the controversial memecoin $MOTHER over the past week. By analyzing Iggy Azalea’s strategy, we may learn something from it, and maybe, just maybe, there is more to explore about $MOTHER. This article details the current state of celebrity coins and how Iggy Azalea made her memecoin MOTHER stand out through her continued investment in the project.

What is Celebrity Coin and MOTHER?

Celebrities have been involved in cryptocurrencies and Web3 for a long time, often associated with scams and runaway incidents. When NFTs became popular a few years ago, many celebrities took the opportunity but failed to invest consistently, and now they are almost no longer involved in the NFT field. For example, Cristiano Ronaldos NFT collection exclusively released on Binance sold for only $9,000 as of yesterday.

As NFTs fell out of favor, memecoin quickly stepped in to fill the void. With tools like pump.fun , anyone can easily issue memecoins. Celebrities naturally jumped at the opportunity to make a quick buck.

Over the past week and a half, weve seen a wave of celebrities entering the scene:

• Caitlyn Jenner (May 26)

• Rich The Kid (May 27)

• Iggy Azalea (May 28)

• Moneybagg Yo (Post has been deleted)

• Lil Pump (May 29, post deleted)

• Trippie Redd (May 29, since deleted)

• Davido (May 29)

(Please refer to the tweet)

So, how did they perform?

One exception is Iggy’s MOTHER coin, which has a market cap of $191 million as of this writing.

Wait, who is Iggy Azalea?

Iggy Azalea was everyones favorite Australian female rapper in the 2010s, with hit singles like Fancy and Black Widow.

Why have other celebrity coins performed poorly, while MOTHER has been rising steadily over the same time period?

The simple answer is: She stayed committed to the project.

Almost all of these celebrities gave away their tokens (in the process of selling them and making 6-7 figures), and many exited within the first day.

I know its ridiculous to call a celebrity who posts a 10-day memecoin committed. Most New Years resolutions last longer than 10 days, haha. But in a world where we often view things in absolute terms, this is actually (sadly?) impressive in relative terms. It cant be ignored.

How does Iggy stay engaged in this field?

Just a reminder: we are talking in a relative sense, Iggy is the newbie.

Iggys X account focuses on MOTHER

Check out her X account, it’s all about MOTHER and has deleted all posts before May 29th, the day the token was launched. Sounds simple enough but remember she has 7.6 million followers and has posted 2,245 total posts about MOTHER (including retweets, quotes, etc).

Direct her traffic to celebrity coins

While X was the main focus because it aligned with the 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 amazing)

Engage with the community

Iggy has appeared in multiple community Spaces. I happened to listen to one (starting at minute 12) and I have to admit, she seems genuine. Here are some highlights:

• She learned more about cryptocurrencies and Web3 from her business manager but wondered, “What’s more to this?”

• By letting her friends in on the action, she shared some valuable insights on friction points. If you’re building a consumer wallet or transaction product, this might be a point worth doubling down on:

• How to buy Solana?

• What is slippage?

• She plans to work with bigger celebrities through her manager

• She wants to focus on other sources of income besides selling tokens, as selling is not sustainable.

• Two non-crypto projects (mobile web and digital gifting/crowdfunding) will be launched in the coming weeks, both of which will integrate crypto payments, including MOTHER

• She grew up in a digital world, coming home every lunchtime to chat online and browse music forums.

• Plan to attend Solana Breakpoint

In the Telegram chat, Iggy often interacts with the community and responds via voice messages.

She will also be featured on the Threadguy podcast, which launches tomorrow.

Taking advantage of bad actors among peers

Last week, Iggy launched an initiative where she would burn some of her own tokens if any celebrities dumped their memecoins . Earlier today, Hulk Hogan became a new member of the club, which means one thing:

Proof of Burn Transactions

This initiative turned a completely negative event into something that had a positive impact on different communities. Try to make the best of a bad situation, right?

The results are not yet known

With the number of low-quality celebrity coin scams emerging, they should naturally be viewed with skepticism. Both Vitalik and Hayden Adams have spoken out against this latest trend, and I agree with them.

Interestingly, Iggy has just launched the MOTHER website, where items can only be purchased with MOTHER. This is one of many steps to move things in the better direction that Vitalik talks about.

Can Iggy and MOTHER break the celebrity coin trend? It’s only been 10 days, time will tell.

This article is sourced from the internet: Decoding the success of celebrity memes: How do MOTHERs stand out?

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