Tech mogul Elon Musk recently set the value of Milady Maker non-fungible tokens (NFTs) skyrocketing with a single Twitter post. The tweet, showcasing an anime-themed Ethereum NFT profile picture from the Milady Maker series, was accompanied by the cryptic phrase, “There is no meme. I love you.” This particular tweet caused a social media storm within an hour of its posting, garnering over 4 million views and innumerable interactions.
— Elon Musk (@elonmusk) May 10, 2023
Social Media’s Profound Influence on Milady NFTs
The widespread excitement stirred by Musk’s tweet extended beyond just Milady NFT enthusiasts to the wider Web3 community. This resulted in a marked surge in the digital assets’ value. According to NFT Price Floor, the base price of the collection on secondary markets shot up from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), a 57% increase in just 24 hours. Further, this price surge echoes the impact Musk’s tweets have had on meme cryptocurrencies like Dogecoin in the past.
OpenSea’s Marketplace Reacts to the Milady Maker NFTs Phenomenon
In the aftermath of Musk’s tweet, the NFT platform OpenSea witnessed a significant increase in sales. Over 600 NFTs from the Milady Maker series were sold within an hour, equating to a whopping 3,700 ETH, or over $6.9 million. This impressive figure positioned Milady Maker as the highest grossing project during that period. However, Milady Maker has not been without controversy. The project faced a price drop last May after its creator, Charlotte Fang, confessed to managing a pseudonymous Twitter account tied to racist and offensive tweets. Following the scandal, Fang stepped down from the team.
Milady Maker NFTs Emerge as a Sign of Rebellion
In a surprising twist, Milady Maker NFTs have come to symbolize resistance among certain cryptocurrency traders and professionals. In the face of increasing scrutiny from the Securities and Exchange Commission (SEC), these industry insiders have rallied around the Milady Maker artwork, using it as a silent form of protest on social media.