SNEAK PEEK
- Elon Musk’s promotion has helped Milady NFT collection reach a high of 7.8 ETH.
- In less than an hour, the tweet was viewed more than 4 million times and led to tens of thousands of interactions.
- Milady Maker is a controversial project, and its creator was accused of sharing abusive and racist tweets.
It has happened again! Elon Musk’s tweet has once again created a huge impact in the world of NFTs. This time, he took to Twitter to share a Milady NFT, which is a digital art piece representing a woman’s medieval-style portrait.
Soon after, Milady NFTs’ floor price jumped from 3.8 ETH to as high as 7.3 ETH per piece.
— Elon Musk (@elonmusk) May 10, 2023
The collection was created by digital arts collective Remilia in 2021 and features 10,000 anime profile picture NFTs that are inspired by street style tribes.
Charlotte Fang, an artist, not only founded the Remilia DAO but also helped in designing the series.
In 2019, Elon Musk referenced the namesake, adding “my shield is yours.“
Milady, my shield is yours
— Elon Musk (@elonmusk) April 21, 2019
Milady NFTs’ floor price declined by around 50% in May 2022 when Charlotte Fang was accused of being involved in several fringe ideologies on 4chan, an anonymous imageboard site.
Fang seems to have validated the authenticity of the alleged screenshots alongside saying, “Trolling about it was juvenile, but in reality I’ve never harmed a fly.“ Post that, Fang exited from the team.
Even after controversies, Milady has always been popular in Web3 communities. Other than Musk, the co-founder of Three Arrows Capital, Su Zhu, is an ardent collector of Milady and shills the collection to his followers quite often.
OpenSea has reported a market-wide sales spike, with around 600 NFTs sold. Moreover, the collection has 39,659 ETH in collective volume trades.
The increase in the Milady NFT’s demand speaks volumes about the increasing popularity of digital art and collectibles, besides highlighting the major impact of established personalities like Elon Musk on the market.
Though some people in the NFT community have considered Musk’s tweet a positive development, others have warned against depending on celebrity influencers. These people believe that the value of NFTs should be determined according to their intrinsic artistic or cultural value and not on the basis of endorsements by popular people.
