Wednesday, May 29, 2024

Milady NFT floor price skyrockets after Elon Musk’s tweet

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On May 10, American entrepreneur Elon Musk tweeted a meme created using images from Milady’s non-fungible token (NFT) pool. Shortly thereafter, the base price of Milady NFTs increased from 3.8 Ether (ETH) to 7.3 ETH before dropping to 5.69 ETH per block at press time.

Created in 2021 by digital art group Remilia, Milady is a collection of 10,000 animated profile picture NFTs “inspired by street style tribes”. Artist Charlotte Fang founded the decentralized independent organization Remilia (DAO) and helped design the series.

The name “Milady” is a play on the phrase “My lady,” which was historically a polite form of address for noble women, but has since taken on sarcastic connotations about overzealous chivalry and “nice guys” on Internet forums. Four years before the Milady NFT tweet, Elon Musk Referred to Same name while adding “My shield is yours”.

In May 2022, the base price of Milady NFTs dropped by more than 50% thereafter allegations Its creator, Charlotte Fang, was shown to be involved in various fringe ideologies on the anonymous image board site 4chan. Fang appears to have confirmed the authenticity of the alleged screenshots during this Mentionsed, “Trolling about it was an event, but I’ve never actually hurt a fly.” The NFT artist quit the team after that.

Despite the controversies, Milady has remained popular across Web 3 communities. In addition to his promotion by Elon Musk, Su Zhu, co-founder of the bankrupt Singaporean hedge fund Three Arrows Capital, is an avid collector of Miladys and frequently shills group to his followers. The pool currently has 39,659 ETH in cumulative volume circulating on OpenSea.

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