Australian rapper Iggy Azalea released the celebrity meme coin “MOTHER” at the end of May, with the highest increase exceeding 3000%, and has seen nearly 700% increase since its release. Although Iggy Azalea is not the first celebrity to release a meme coin, her beef with Vitalik started when Vitalik criticized celebrities for releasing meaningless meme coins. Vitalik stated, “Celebrity meme coins, go away!” which led to a mixed response from the crypto community towards celebrity meme coins.
Recently, Ethereum co-founder Vitalik Buterin expressed his dissatisfaction with the current trend of celebrity meme coins, stating that people are only creating these coins to make money, and he hopes that there can be a more charitable purpose and long-term operation behind such initiatives. Iggy Azalea responded in an interview, questioning Vitalik’s actions regarding Gas Fees, which are significant expenses. She suggested discussing Gas Fee taxes and implied that some people should not have such strong opinions.
While Iggy Azalea may have tried to blame Vitalik for the high Gas Fees on Ethereum, it is mostly the verification nodes that profit from Gas Fees, and Vitalik indirectly benefits from holding ETH. Uniswap founder Hayden Adams supported the trend of celebrity meme coins, stating that there is value in meme culture and creating a market for it. He believes that the fundamental purpose and value of the technology go beyond financial games, inspiring the best builders in the field towards positive social change.
Despite the controversy surrounding Iggy Azalea’s “MOTHER” website, there have been charitable activities where proceeds from “MOTHER” were donated to koala rescue initiatives. This gesture of goodwill stands out amidst the profit-driven nature of celebrity meme coins.
Gas Fee Iggy Azalea MOTHER Vitalik