- Iggy Azalea responded to Vitalik Buterin’s criticism of her newly launched meme coin Mother Iggy (MOTHER) on Solana
- Buterin expressed his unhappiness with recent celebrity experimentation in the crypto space, referring to the trend as less honorable than previous celebrity crypto projects
- Celebrity endorsements of cryptocurrencies have a poor track record, with many projects turning out to be fraudulent or failing to deliver on promises
Rapper Iggy Azalea has responded to criticism of her new meme coin from Ethereum founder Vitalik Buterin. Azalea’s meme coin, called Mother Iggy (MOTHER), launched on the Solana blockchain last week.
Buterin Calls Out Celebrity Meme Coin Trend
After the launch of Mother Iggy, Buterin criticized the recent trend of celebrities creating meme coins for speculation. He said he was “quite unhappy” about celebrities experimenting in crypto this way.
Buterin also compared Mother Iggy unfavorably to the NFT project Stoner Cats, which was backed by celebrities including Mila Kunis and Ashton Kutcher. He said Stoner Cats was “vastly more honorable” because it funded an actual show, unlike the “2024 celebrity meme coin era.”
Azalea Responds by Poking Fun at Buterin
In an apparent response to Buterin’s comments, Azalea shared a meme depicting the Ethereum founder as a crying baby. The meme was captioned “he was just hangry.”
Azalea’s lighthearted response suggests she does not take Buterin’s criticism very seriously. The meme coin trend shows no signs of slowing down despite objections from more serious crypto figures.
Celebrity Crypto Endorsements Have a Poor Track Record
While Mother Iggy is a blatant attempt by Azalea to capitalize on her celebrity, she is far from the first famous face to endorse a cryptocurrency.
However, celebrity crypto endorsements often end badly. Lil Yachty, Logan Paul, and other celebs have been sued for promoting the alleged SafeMoon crypto scam. Celebrities who promoted now-bankrupt exchange FTX are also facing lawsuits.
High-profile projects like Floyd Mayweather’s EthereumMax token and Steve Aoki’s NFT collection flopped despite celebrity hype. So while Mother Iggy is riding high for now, its long-term prospects seem dubious based on history.
Buterin’s Criticism Brings Free Publicity
Ironically, Buterin’s high-profile criticism of Mother Iggy may have helped boost the meme coin by giving it free publicity. For now, the coin is still pumping from the attention.
But if history is any guide, the dump could be coming soon. Celebrity meme coin mania may not survive serious objections from influential figures like Buterin as well as past legal troubles. Mother Iggy’s 15 minutes of fame could be almost up.
