On another memetic day in the world of non-fungible tokens (NFTs), the Milady project got a lot of attention. The Milday NFT collection and its associated token $LADYS experienced a massive surge in value. This increase followed a tweet from renowned tech entrepreneur Elon Musk starring a Mildafy NFT.
Musk, a well-known influencer in the crypto sphere and a supporter of Dogecoin (DOGE) has recently turned his attention to NFTs. His latest tweet, featuring an image of a Milady NFT, sparked a dramatic rise in the floor price of the collection.
The SpaceX and Tesla CEO took to Twitter on Wednesday to share a meme featuring the distinct image of a Milady avatar NFT. This meme was captioned with, “There is no meme, I love you.” The community is not sure whether Musk knows about the Milady ecosystem or he just stumbled across the NFT, but one thing is for sure, the Milady community loves him.
Floor Price of the Milady NFT Collection Doubles
The tweet sent the Milady collection soaring to the top trending position on OpenSea. The floor price momentarily hit an all-time high of 7.3 ETH (approximately $13,700). After some time, however, it settled back down to 5.6 ETH. This marks a significant increase of 59% over the past week.
Data from NFT Price Floor shows the entry-level price for the collection on secondary markets rapidly increased. According to the statistics, the entry-level price jumped from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), marking a notable 57% increase within 24 hours. This price surge is similar to the impact of Musk’s previous comments on the price of Dogecoin.
According to OpenSea, the marketplace reported a broader increase in sales. Over 600 NFTs sold in the last hour for a total of approximately 3,700 ETH or over $6.9 million. The Milady collection was the top-selling product during this period.
What is Milady NFT?
The Milady collection consists of 9,825 profile-picture (PFP) NFTs showcasing childlike, wide-eyed features. The collection has been surrounded by controversy due to conspiracy theories and offensive remarks made by the creator of Remilia Charlotte Fang. The CEO of Remilia admitted to being behind an offensive Twitter account and other inappropriate posts, leading to his departure from the project.
Adding to the intrigue, an anonymous Twitter user reported a mysterious transaction. An address was created an hour before Musk’s tweet, withdrew 25 ETH ($45,362) from Binance, and purchased 8T $LADYS. This transaction raises questions about potential insider knowledge of Musk’s forthcoming tweet.
Elon Musk’s influence continues to shape the crypto and NFT markets. His influence underlines the potency of social media in driving speculative investments. As the dust settles, the community will undoubtedly keep a keen eye on Musk’s next crypto move.