Renowned digital artist Beeple has unveiled his latest creation, “Mother and Daddy (2024),” a parody that targets key figures in the current wave of celebrity memecoin launches.
The artwork offers a modern twist on Grant Wood’s iconic “American Gothic.” It features controversial figures Iggy Azalea and Andrew Tate, alongside with green stock market candles and Solana tattoos.
MOTHER AND DADDY pic.twitter.com/TFKiX9hMPD
— beeple (@beeple) June 14, 2024
Interestingly, Beeple released a white paper alongside the artwork. The document highlighted the artist’s intention to demonstrate the intersection of traditional art with modern digital currency dynamics. It stated, “The choice of Tate and Azalea, foreigners leveraging American platforms for influence, underscores the globalization of American capital ideals. Their involvement in memecoins exemplifies how digital finance transcends borders, fostering economic instability and risk for many.”
This artwork comes in the wake of Azalea’s recent launch of the MOTHER memecoin. The token quickly gained traction in the cryptocurrency market due to her significant fan base and active social media promotion. Following Azalea’s success, Andrew Tate launched his DADDY memecoin, positioning it as a direct competitor to MOTHER. This move added to the competitive and often playful nature of celebrity-endorsed digital currencies.
However, both celebrities have faced allegations of insider trading with these token launches. Crypto analytics firm Bubblemaps recently accused Tate and his DADDY of significant insider activity. The platform noted that 11 wallets, likely belonging to the same group, held 20% of the supply, having bought tokens worth $30 million before the token’s promotion. The firm warned that these wallets could destabilize the liquidity pool.
The same analytics firm had also previously claimed that insiders had acquired over 20% of $MOTHER’s supply at launch before Azalea promoted it and had already dumped $2 million worth of tokens before the actions were publicly revealed.
Notably, both Tate and Azelea have denied these accusations. Azalea went on to declare that she would burn a portion of her tokens for every incident of token launch scams she knows of.
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