Billionaire Elon Musk, known for influencing cryptocurrency markets with Tweets, caused a stir yesterday when he posted a meme on Twitter using art from the Milady Maker non-fungible token collection. In the meme, which features a sparkly-eyed Milady surrounded by red flowers, Musk wrote, “There is no meme. I love you.”
The Tweet caused an immediate stir on Twitter, garnering reactions from the NFT community. It also influenced Milady Maker sales, with the floor price of the collection rising from 3.8 ETH ($6,837) to 7.3 ETH ($13,133) in a matter of hours. Since then, the floor price has settled to 4.7 ($8,456) ETH as of the time of this writing.
Milady Maker, a 9,825-NFT collection minted in August of 2021, has features anime-style female characters in a variety of outfits, which receive a DRIP score from the team behind the project. It has a bit of notoriety, as the founder of the project made a series of controversial posts in the past, though he has since resigned from the team.
The collection recently gained attention as one of three projects NFT marketplace Blur selected to participate in the roll out of its lending program, along with CryptoPunks and Azuki. And it has been one of the surprises in the bear market as well, with its floor price steadily rising over the past year.
Along with the Milady Maker NFT collection floor price rising, the set’s fungible token LADYS has risen over 3000% in the past 24 hours, likely because of Musk’s Tweet as well. In that time, it has outperformed PEPE and TURBO, the two frog coins which have been the darling of Crypto Twitter since their launches weeks ago.
Milady Maker Becomes ‘Wartime Collection’
For the past year, the U.S. Securities Exchange Commission (SEC) has put increased pressure on cryptocurrency companies to conform with U.S. finance laws, causing backlash within the Web3 community. And some NFT traders have turned Milady Maker as a rallying cry in that fight.
The above meme, which is a Milady based (likely) on Coinbase’s CEO Brian Armstrong, is just one of many that NFT enthusiasts have shared in recent months as the regulatory struggle goes on. Coinbase is the exchange that many believe is leading the fight against the SEC, a hat the company has embraced in its marketing efforts.
The use of Milady art as a wartime meme may signal an underlying intent of the collection, which some believe is to satirize the “nice guy” image that many young men fall victim to. Here at Rarity Sniper, we’ll report back on any further developments in the story.
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