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On May 10, American entrepreneur Elon Musk shared a meme utilizing visuals from the Milady nonfungible tokens (NFT) collection. Shortly after, the floor price of Milady NFTs surged from 3.8 Ether (ETH) to a peak of 7.3 ETH before settling at 5.69 ETH each at the time of this report.
pic.twitter.com/4s6HwnCY74
— Elon Musk (@elonmusk) May 10, 2023
Launched in 2021 by the digital arts group Remilia, Milady consists of 10,000 anime profile picture NFTs “inspired by street style tribes.” Artist Charlotte Fang established the Remilia decentralized autonomous organization (DAO) and contributed to the design of the series.
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The term “Milady” is a twist on the phrase “my lady,” which has traditionally served as a courteous address for noblewomen but has since acquired satirical implications regarding excessive chivalry and “nice guys” in online discussions. Four years prior to the Milady NFT tweet, Elon Musk alluded to the term while stating, “my shield is yours.”
In May 2022, the floor price of Milady NFTs dropped by more than 50% following claims that its creator, Charlotte Fang, was linked to various fringe ideologies on the anonymous imageboard platform 4chan. Fang seems to have acknowledged the validity of the alleged screenshots while asserting, “trolling about it was juvenile, but in reality I’ve never harmed a fly.” Subsequently, the NFT artist resigned from the team.
Notwithstanding the controversies, Milady has continued to enjoy popularity within Web 3 communities. In addition to being endorsed by Elon Musk, Su Zhu, co-founder of the now-defunct Singaporean hedge fund Three Arrows Capital, is a dedicated collector of Miladys and often promotes the collection to his audience. The collection has amassed a total of 39,659 ETH in cumulative trading volume on OpenSea.
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