Miladys NFTs pump after Elon Musk tweet

Miladys NFTs pump after Elon Musk tweet

The Ethereum-based anime-style profile pictures (PFP), known as Milady Maker NFTs, have gained significant attention following a tweet by Elon Musk, the CEO of Twitter. The tweet included a meme featuring one of these NFTs, causing their value to skyrocket, similar to the impact of Musk’s tweets on the meme coin Dogecoin in previous instances.

An overnight success

In just 60 minutes after the tweet‘s release, the image garnered more than 4 million views and generated tens of thousands of interactions, sparking excitement and enthusiasm among both Milady NFT holders and those involved in the Web3 sphere.

As a result, the value of the Mylady collection surged considerably. NFT Price Floor’s data indicates that the initial cost for purchasing Milady Maker NFTs on secondary markets skyrocketed from 3.75 ETH to 5.25 ETH, resulting in a 24-hour rise of 57%.

Meme mania is well and alive in the crypto sphere

The tweet had a notable effect not only on Milady Maker NFTs but on the entire NFT market as well, leading to a spike in sales, as reported by OpenSea. Within an hour, more than 600 NFTs from the collection were sold, amounting to around 3,700 ETH or over $6.9 million, making Milady Maker the top-selling project during that time.

Nonetheless, Milady Maker has not escaped controversy. In May of last year, the creator, Charlotte Fang, admitted to managing a Twitter account under a pseudonym that posted racist and abusive content, leading to a decrease in NFT prices. Fang stated that she had resigned from the team at that time.

In addition, Milady Maker NFTs have been weaponized by certain NFT traders and members of the crypto industry, who have shared the artwork on social media as regulatory bodies such as the SEC intensify their scrutiny on cryptocurrencies.

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