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As he has for cryptocurrencies such as Dogecoin, Elon Musk sent the value of Milady Maker NFTs soaring after sharing a gif of the NFT on his Twitter handle.
As a result of the tweet, Milady Maker NFTs rallied, posting an increase of 57% in a single day.
Floor Price Surges
The Twitter CEO shared a gif of the NFT which stated, “There is no meme, I love you.” As a result, the NFT collection surged, reaching the top trending spot on the OpenSea NFT marketplace. The tweet shared by Musk has been viewed millions of times and resulted in tens of thousands of interactions. Not only did the tweet send the Milady NFT community into a flurry of excitement, but it also sent the NFT prices through the roof.
According to data sourced from NFT Floor Price, the entry-level price for the Milady Maker NFt collection on secondary markets rose from 3.75 ETH ($6920) to 5.25 ETH. This represented a rise of 57% in 24 hours. The price also briefly hit its all-time high, rising to 7.3 ETH before dropping back down to around 5.6 ETH. OpenSea also reported a market-wide surge in sales, with the collection selling over 600 NFTs, worth around $6.9 million, in an hour. This made it one of the best-selling projects on the platform.
Controversy’s Child
Milady Maker NFTs are a collection of profile-pic NFTs. The collection is comprised of 9823 NFTs that feature wide-eyed, childlike faces. However, the project has been quite controversial since its inception. The price of the NFTs dropped significantly in May 2022 after creator Charlotte Fang acknowledged that she was behind a pseudonymous Twitter account that shared abusive and racist tweets. At the time, Fang stated that she had taken a step back and was stepping down from the team. Fang stated on her Twitter account,
“OK, full disclosure: I was Miya. And it’s toxic baggage that’s hurting the Milady community & poisoning the vibe. I apologize about trying to hide the past account—Miya has nothing to do with Milady Maker & should stay that way, so I’ll be stepping down from the team from here. My real views hold no room for hate, and I detest abusers & groomers—trolling about it was juvenile, but in reality, I’ve never harmed a fly.”
The Milady NFTs have also become a wartime meme among some NFT traders and crypto industry insiders. These users have begun using the Milady Maker artwork quite often on social media amidst increased scrutiny of the crypto space and crypto companies by the United States Securities and Exchange Commission (SEC).
Musk Launches AI For Crypto
Besides pumping prices of NFT collections, Musk has also overseen the launch of X.AI, an advanced AI model specializing in crypto and blockchain. X.AI announced its official launch on the 3rd of May, 2023. X.AI GPT is an AI system that is based on machine learning and natural language processing, which helps it understand the context and generate text for crypto use cases. The CEO of X.AI, Martin Winward, stated,
“We are excited to introduce X AI GPT to the blockchain community. This AI model has been trained on massive datasets to gain a deep understanding of cryptocurrencies, DeFi, NFTs, and the metaverse. Developers and businesses can now leverage the power of AI to elevate their crypto products and services.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.