Iggy Azalea Declares War on Memecoin Pump-and-Dumps With New Solana Launchpad: Report
Retired rapper and crypto entrepreneur Iggy Azalea is taking one other step into Web3 with a brand new Solana-based platform referred to as Thrust, a token launchpad designed to revive credibility to celebrity-led cash and curb the pump-and-dump tradition that has plagued the memecoin sector.
The Australian artist, identified for her 2024 memecoin MOTHER, will function inventive director and strategic associate for the venture.
Thrust formally launched on Wednesday and describes itself as a “tradition coin” platform, one which merges blockchain’s transparency with enforceable leisure contracts.
The aim, based on its founders, is to eradicate insider allocations, deceptive promotions, and value manipulation schemes which have tarnished the celeb crypto area.
Inside Thrust: Iggy Azalea’s Bid to Make Celebrity Crypto Legit Again
In the report, Azalea mentioned that she had spent months rethinking learn how to make her personal venture sustainable.
“I’ve type of been sitting dormant attempting to determine how can I create some type of actual income to place again into what we’re doing,” she mentioned, referring to MOTHER.
“How can I do extra dwell occasions? How can I give extra to the neighborhood? How can we do extra?”
Unlike open platforms akin to Pump.enjoyable, which popularized Solana’s “memecoin meta” by permitting anybody to problem a token, Thrust will function underneath stricter situations.
Each venture will likely be vetted, legally binding, and structured to guard each followers and creators.
Azalea mentioned her new function goes past design: “It’s not simply that I aesthetically resolve what issues appear to be for Thrust as an organization, however I’m a big a part of the ideas once we’re white-gloving these celebrities onboard. I assume it’s nearly like being a godmother.”
The venture’s co-founder, Jake Antifaev, described Thrust as an try to “onboard popular culture into crypto responsibly.” He mentioned the corporate is constructing a framework the place creators can have interaction followers with accountability, not hypothesis.
“We need people who find themselves dedicated to creating experiences for his or her followers and truly need to be right here and contribute,” he mentioned.
Thrust’s first launch options Twitch streamer N3on, who has round 440,000 followers on Kick and is also part of Azalea’s separate enterprise, MOTHERLAND, a digital gaming on line casino.
Azalea’s personal MOTHER token will migrate to the Thrust platform by the top of the yr, and she or he confirmed that actress Megan Fox is anticipated to debut her personal token at Art Basel in December.
Iggy Azalea’s Thrust Platform Lets Fans Buy Creator Tokens With Crypto or Fiat
The launchpad’s rollout offers followers direct entry to creator tokens by means of a curated system designed to stop early allocations and personal insider rounds.
According to them, every launch will comply with a transparent course of: customers be part of a creator’s neighborhood contained in the Thrust app, add funds through crypto or fiat fee strategies, and take part in a timed buy window.
Tokens will then vest step by step, giving holders entry to gated neighborhood areas and unique content material.
According to Thrust, this mannequin goals to revive belief following a sequence of high-profile token collapses which have impacted the celeb coin market.
One current instance was Haliey Welch’s HAWK token, which briefly reached a $490 million market cap earlier than crashing 93% inside minutes.
The volatility strengthened criticism that the majority celeb cash are short-lived speculative property with little underlying utility or accountability.
Azalea herself has been no stranger to controversy. When MOTHER debuted in 2024, blockchain analytics firm Bubblemaps alleged insider activity, claiming wallets tied to early buyers dumped roughly $2 million value of the token after launch.
Azalea dismissed duty, saying she couldn’t management how unbiased holders acted.
Despite the setback, MOTHER has remained energetic, currently buying and selling at $0.00659, up 5% in 24 hours, with a market cap of round $6.3 million, based on CoinGecko.
Since then, Azalea has continued to increase her crypto ventures. In June 2024, she relaunched a telecommunications company that allowed customers to buy telephones and cell plans utilizing MOTHER or Solana’s native token, SOL.
The broader marketplace for celebrity-themed tokens stays comparatively small however energetic.
CoinGecko data shows a complete market capitalization of about $84 million, with MOTHER rating among the many prime gainers alongside initiatives akin to BULLA and YZY.
The submit Iggy Azalea Declares War on Memecoin Pump-and-Dumps With New Solana Launchpad: Report appeared first on Cryptonews.
