Elon Musk, the CEO of Twitter, gave a huge boost to a specific non-fungible token (NFT) on Wednesday. Musk tweeted a meme featuring the Milady NFT, causing its popularity to soar. The message on the image, says, “There is no meme. I love you.” Due to this, Milady NFT sales surged by 500% in the last 24 hours, as reported by NFT Price Floor. Let’s take a closer look!
Milady NFT Collection Reaches Record High After Elon Musk’s Tweet
On Wednesday, Elon Musk, the CEO of Twitter, made the day of Miladys’ fans by sharing a meme featuring one of the iconic avatar NFTs, accompanied by the words “There is no meme, I love you.” As a result, the counterculture NFT collection saw a surge in popularity, with sales of Milady NFTs increasing by 500% over the last 24 hours, according to NFT Price Floor.
Milady NFT collection soared to the top of OpenSea’s trending list after Elon Musk’s tweet. The floor price to hit a record 7.3 ETH ($13,700) before falling back down. In the past week, the collection’s floor price has surged by 59%.
Data from NFT Price Floor revealed that within 24 hours, the entry-level price for the Miladys collection on secondary markets surged from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), resulting in a 57% increase. This surge in price is reminiscent of Elon Musk’s past influence on the price of Dogecoin. Meanwhile, NFT marketplace OpenSea reported a market-wide sales boost, with over 600 NFTs sold in the past hour alone. This totaled approximately 3,700 ETH or over $6.9 million. Ultimately, the Miladys collection emerged as the top seller, surpassing all other products during this time.
Other Projects See a Surge in Popularity Thanks to Musk’s Tweet
The Miladys NFT collection features 9,823 adorable, wide-eyed avatars, but it’s not all sunshine and rainbows. The creator, Charlotte Fang, aka Charlie Fang or Charlemagne, has been embroiled in controversy due to offensive posts and conspiracy theories. The Remilia CEO admitted to being behind a Twitter account and offensive posts, leading to his departure from the project.
Furthermore, crypto enthusiasts and NFT traders have adopted Miladys as a symbol of defiance in the ongoing regulatory battles surrounding digital assets. The Milady Maker artwork has become a rallying cry on social media. Some use it to express their frustration with the SEC’s crackdown on cryptocurrencies.
Elon Musk is no stranger to causing cryptocurrency price surges through his tweets. Last month, Dogecoin’s value skyrocketed after Musk changed the platform’s logo to the famous Shiba Inu dog meme. Similarly, on Wednesday, other projects from Remilia Creative, the artist collective behind Milady NFT, saw a surge in popularity. For instance, Redacted Remilio Babies NFT sales increased by 660% in the last 24 hours.
As NFTs continue to garner more attention and hype, the question remains whether Milady NFT and other digital assets will maintain their value over time.