Milady Maker NFT: A highly controversial yet successful collection

Launched in August 2021, Milady Maker is a well-known collection including 10,000 generative profile picture NFTs based on the Ethereum mainnet. Creative design and similar social experiences like Milady Minecraft Metaverse, Milady Raves, Miladycore Bootlegs and Milady VRtube have supported the project to fetch mind-boggling attention.

The project is a joint effort by the Remilia Collective that includes artist Milady Sonora and designer Charlotte Fang. The project supports a growing ecosystem of derivative projects such as the Redacted Remilio Babies from its fan community.

Milady NFTs are adored by many powerful names with the renowned influencer Su Zhu being one of them. Impressed by the anime-style NFTs, he is known for using the Milady as his profile picture.

The project’s success not only spread like fire in the NFT and Crypto Twitter world but at unimaginable places too. For instance, American investor Martin Shkreli, who was sentenced to seven years in prison, was also impressed by Miladys.

As soon as he was released, not only was he quick in coming back to social media but went live on Twitter through a pseudonym account with a Milady as his profile picture. Though he was suspended shortly after.

Milady NFT Floor Price

During the launch, users were lucky enough to mint a Milady NFT for just 0.05 ETH, a price that stayed the same for quite long. However, things prospered in 2022 when the NFTs met the eyes of influential personalities from the crypto world and they started endorsing the project. This led to the prices skyrocketing with the rarest NFT being sold for 15 ETH.

However, things fizzled when controversies almost engulfed the project and the price fell more than 55% of its value in 24 hours. But as they say, “a good event is a miracle,” things improved and the price jumped to 0.2 ETH and even 1.5 ETH per NFT.

Milady NFT Variations and Drip Score

The collection has five key style themes inspired by five reputed Tokyo fashion tribes- Lolita, Harajuku, Gyaru, Hypebeast and Prep.

Every NFT has been allocated a ‘Drip Grade’ to score its outfit. The Drip Score refers to a system that assigns value to Miladys according to their aesthetics and not on the basis of trait rarity. The scores from highest to lowest are SS, S, A, B, C and D.

In an essay, “Milady Maker: Notes on the Design Process,” Fang has discussed the perspective behind allocating the characteristics to each Milady NFT. For instance, Miladys with rarer items like accessories, clothes and skin colors have a higher drip score.

Milady Controversy

In 2022, things went ugly for Milady when  Charlotte Fang, the firm’s CEO, landed in hot water. Other than being accused of being Miya, an anonymous 4chan user, who was behind a misogynistic online campaign against women, Fang was accused of exploiting underage girls and convincing them to involve themselves in self-harm.

These reports damaged Milady and the floor price fell from 1.5 ETH to 0.34 ETH. However, these unfortunate events came to an end when Charlotte left the project as well as publicly apologized for past actions.

What is Milady Memecoin?

The cryptocurrency “LADYS” is the memecoin for the Milady collection and is the tokenization of the memetically optimized white pill. A self-organized memecoin, it is the drip currency, accumulation of clout as well as points for charm, karma and beauty.

LADYS was introduced with a total supply of 888 trillion tokens and 94% tokens were sent to the liquidity pool (LP). 1% of the supply was airdropped to owners of $PEPE and Milady NFT; whereas, 5% of the supply is held in a multi-sig wallet to be utilized as tokens for future centralized exchange listings, liquidity pools and bridges. The wallet can be tracked with the ENS name “miladymeme.eth.”

LADYS ROADMAP

The roadmap of LADYS includes three phases: Launch, Vibe and HODL and Milady Takeover. Let’s take a look at them one by one.

Launch

This phase aims at getting the coin listed on leading crypto data aggregators like CoinMarketCap, acquiring more than 1000 holders and pushing $LADYS further to trend it on Twitter with the potential of memes.

Vibe and HODL

This phase includes collaborations with other crypto communities, developing Milady Times (a digital newsletter) and creating Milady Palace (a token-gated Discord group for LADYS holders). The main aim is getting listed on more and more centralized exchanges and acquiring more than 10,000 holders.

Milady Takeover

This phase emphasizes on creating tools, merchandise and an academy for Milady NFT holders. The key goal is to acquire more than 100,000 holders and get listed on tier-one centralized exchanges.

The Elon Influence

On May 10, Elon Musk tweeted a meme that had imagery from the Milady NFT collection. The impact of his tweet spiked the floor price of Milady NFTs from 3.8 ETH to 7.3 ETH.

In less than an hour, the image was viewed more than 4 million times and had tens of thousands of interactions.

Is Milady a Good Investment?

Milady Maker NFTs have achieved fame among Crypto Twitter users as well as influencers, thanks to their Chibi-inspired art style. Furthermore, the Drip Score system focuses on the overall aesthetics of Miladys; thus, adds greater value to the NFTs. Moreover, even after disturbing controversies, the collection has succeeded in being a key project in the NFT space. All these factors strongly support the project with a good future.

 Moving on, according to IntoTheBlock data, the trading volume of the collection hit a stunning $5 million, with a peak of $10 million.

However, there’s been a rapid fall in the trading volume, which hints that the recovery might not continue for long with the hype fading away. Such temporary movements remind the volatile side of the NFT market; hence, those looking forward to investing in Milady need to engage in thorough research.

Final Thoughts

Looking at the current situation, the  Milady NFT project is doing great and is likely to enjoy the same status in the coming future. Moreover, the project offers an appreciable case study as far as the potential of memes is considered in adding value to digital assets.

For now, it makes sense to see whether influencers and celebrities continue purchasing Milady NFTs and skyrocketing its prices further. As of now, the NFT collection is enjoying name and fame like Dogecoin.