Rapper Iggy Azalea's crypto token, known as MOTHER, continued its rebound after unveiling plans to release an online casino called Motherland.
MOTHER Token Growth
MOTHER rebounded to a high of $0.0950, up by 180% from its August low. This recovery has brought its valuation to over $88 million.
Motherland Casino Launch Plans
Part of the surge can be attributed to Azalea’s decision to launch Motherland, an online casino that will use her token for transactions. The casino, set to launch in November, will feature games like blackjack, roulette, and poker. This initiative is part of her strategy to ensure that the MOTHER token is not just another meme coin. Azalea hopes to give it more utility, including enabling users to purchase phones and monthly plans.
Legal Issues and Other Celebrity Tokens
However, MOTHER and other celebrity tokens remain significantly lower than their levels a few months ago. MOTHER has dropped by 63% from its highest point this year. Similarly, Andrew Tate’s DADDY token has plunged by over 74% from its record high, while Caitlyn Jenner’s JENNER has slumped by over 96%, giving it a market cap of just $170,000. All celeb tokens tracked by CoinGecko have a market cap of $92 million.
The MOTHER token continues to show recovery amid plans for the Motherland online casino launch. However, there remains uncertainty about the long-term prospects of the token and the legal issues associated with its promotion.
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