Elon Musk Tweet Sends Milady NFT Collection’s Floor Price Soaring

Elon Musk Tweet Sends Milady NFT Collection's Floor Price Soaring
Source: Decrypt

The recent tweet by Elon Musk has generated significant attention within the NFT community yet again. In this instance, he utilized Twitter to showcase Milady NFT, an artwork depicting a medieval-style portrait of a woman. Subsequently, the floor price of Milady NFTs experienced a substantial surge, rising from 3.8 ETH to a peak of 7.3 ETH per piece.

Milady NFT floor price jumps after Elon Musk tweet

The Milady NFT collection was created in 2021 by Remilia, a digital arts collective. It comprises 10,000 anime profile picture NFTs that draw inspiration from street-style tribes. One notable figure involved in the creation of the series is Charlotte Fang, an artist who not only founded the Remilia DAO but also contributed to the design process.

In May 2022, the floor price of Milady NFTs experienced a decline of approximately 50%. This drop coincided with accusations directed at Charlotte Fang, linking her to various fringe ideologies on 4chan, an anonymous imageboard site.

Do check out: Binance Registers Sharp Decline with a 50% Drop in April Trading Volume

Despite the controversies surrounding it, Milady has consistently maintained its popularity within Web3 communities. In addition to Elon Musk, Su Zhu, the co-founder of Three Arrows Capital, is a dedicated collector of Milady NFTs and frequently promotes the collection to his followers.

The increased demand for Milady NFTs reflects the growing popularity of digital art and collectibles, emphasizing the significant influence that well-known personalities like Elon Musk have on the market. While some individuals in the NFT community view Musk’s tweet as a positive development, others caution against relying too heavily on celebrity influencers.

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