Australian rapper Iggy Azalea is making waves in the cryptocurrency world once again. On Thursday, crypto market maker DWF Labs announced a partnership with Azalea via social media, sending the price of her controversial MOTHER token surging over 50%.
DWF Labs’ post offered little in the way of details, simply stating their excitement to be working with Azalea and their support for innovative Web3 projects. However, the news was enough to ignite a rally in the MOTHER token’s price. The token, which launched in late May to a lukewarm reception, jumped from around 2.7 cents to over 4 cents following the announcement.
This isn’t Azalea’s first foray into crypto controversy. The MOTHER token’s initial price surge upon launch turned some early investors into millionaires, raising eyebrows among cryptocurrency veterans who questioned the token’s long-term value. Azalea has further stirred the pot by hinting at the future utility of the token, suggesting MOTHER holders might be able to use their tokens to purchase cell phones and plans from a planned telecommunications company of hers.
The DWF Labs partnership injects a dose of credibility into the MOTHER project. DWF Labs is a well-established player in the cryptocurrency market, and their involvement suggests a level of legitimacy for the token. However, with details surrounding the partnership scarce, questions remain about the long-term impact on the MOTHER token’s value. Investors are likely to be waiting with bated breath for any further announcements from DWF Labs or Azalea that could shed light on the nature of their collaboration.
