The Twitter Effect: Elon Musk Strikes Again

It seems like every time Elon Musk posts a meme, the cryptocurrency world holds its breath – and for good reason. On May 10, 2023, Musk tweeted about the Milady NFT collection, causing a surge in their floor price that spiked from 3.8 ETH to a staggering 7.3 ETH, before settling at around 5.69 ETH. Talk about a roller coaster ride in the digital art market!

The Story Behind Milady NFTs

Launched in 2021 by the creative minds at Remilia, the Milady NFT collection features 10,000 anime-style profile pictures, each uniquely inspired by street style. It’s a wild ride through the digital alleyways of fashion, art, and culture, thanks in no small part to its founder, Charlotte Fang, who is also the driving force behind the Remilia DAO.

Unpacking the Meme: What Does ‘Milady’ Mean?

So why is this NFT collection called Milady? The name is a cheeky take on the phrase “my lady,” once used as a term of endearment for noblewomen. In today’s internet, however, it carries some satirical baggage, often tied to the concept of overly polite behavior in online forums. Musk himself referenced the term on social media four years prior, saying, “my shield is yours,” adding an extra layer of irony.

The Rise, Fall, and Redemption of Milady

History hasn’t been kind to the Milady collection. In May 2022, allegations surfaced about Charlotte Fang’s connections to controversial ideologies, leading to a price drop of over 50%. In a rather candid response, Fang acknowledged the screenshots and stated, “trolling about it was juvenile, but in reality I’ve never harmed a fly.” Following this uproar, she stepped down from the project. However, the collection has shown resilience, continuing to thrive despite the controversies.

Celebrity Endorsements and Community Support

Milady NFTs have managed to attract attention from a variety of influential figures. In addition to Musk, Su Zhu – a notable figure from the now-defunct Three Arrows Capital – is also an enthusiastic supporter and collector of Milady NFTs. As of now, the collection boasts an impressive trading volume of 39,659 ETH on platforms such as OpenSea, reflecting its continued popularity in the decentralized art community.

Conclusion: A Lesson in Crypto Volatility

The story of Milady NFTs highlights the unpredictable nature of the crypto world. In a single tweet, $39 million could be added or lost! As we navigate this maze of digital assets, one must remember – keep your friends close, and your memes closer!