The Meme That Moved Markets
On May 10, the internet exploded (again) as Elon Musk took to Twitter to share a meme derived from the Milady NFT collection. This tweet didn’t just gather likes and retweets; it sent the floor price of Milady NFTs soaring from 3.8 ETH to a staggering 7.3 ETH in no time. Of course, like a rollercoaster, the excitement was followed by a drop, landing at about 5.69 ETH at the time of this publication. Who knew memes could be more volatile than crypto itself?
The Birth of Milady
Launched in 2021 by the digital arts collective Remilia, the Milady collection consists of 10,000 anime profile picture NFTs, each inspired by street style tribes. Founding member Charlotte Fang not only helped design the series but also established the Remilia decentralized autonomous organization (DAO). Side note: Milady literally plays off the phrase “my lady” – a term typically reserved for noblewomen, but in the digital realm, it has taken on a life of its own, often mocking the overly chivalrous types the internet loves to critique.
Drama and Controversy
Fast forward to May 2022, when the plot thickened — and not in a good way. Allegations arose, linking Charlotte Fang to some rather fringe ideologies on the notorious imageboard, 4chan. Fang, while seemingly confirming these allegations, claimed, “trolling about it was juvenile, but in reality I’ve never harmed a fly.” Always wonderful to hear from someone who’s stepped down after stirring the pot.
The NFT That Refuses to Die
Despite the controversies, it seems like the Milady NFTs have cemented themselves as a mainstay in the Web 3 community. Musk’s endorsement is a big feather in their digital cap, but they’re not the only heavy hitters in the NFT world. Also throwing his weight around is Su Zhu, co-founder of the now-bankrupt hedge fund Three Arrows Capital, who is a self-proclaimed Milady collector and often promotes the collection to his followers. Just when you thought investing couldn’t get any more exciting!
The Trading Landscape
Milady NFTs have traded a jaw-dropping cumulative volume of 39,659 ETH on platforms like OpenSea. That’s no small potatoes, my friends. Whether through memes or scandal, Milady has survived and nearly thrived in the sometimes unforgiving NFT market.
