The Milady NFT collection’s pricing on OpenSea unexpectedly increased in response to the Twitter CEO’s most recent attempt at tweeting a meme.
To the joy of many Milady NFT owners, Elon Musk tweeted a meme on Wednesday with the image of the recognizable character from the NFT collection and the caption “There is no meme, I love you.” The digital collectable’s base price on the OpenSea market then shot up to new heights.
NFT Rally Is Sparked by Musk’s Tweet
According to data from the top NFT marketplace, the collection’s initial price on cryptocurrency exchanges swiftly jumped from 3.75 ETH ($6,920) to 5.70 ETH ($10,371). As of Wednesday afternoon, sales of Milady NFTs were up by a factor of 500% over the past 24 hours, and the floor price had jumped by over half.
The Milady meme is the most recent instance of Musk using Twitter to drive up the price of a digital asset, but it’s not the first time. The price of Dogecoin increased over the previous month after Musk changed Twitter’s official logo by adding the well-known dog meme showing a Shiba Inu dog.
Read more: Dogecoin’s Remarkable 30% Leap: Elon Musk’s Inspiring Twitter Logo Swap Triggers Incredible Market Buzz
— Elon Musk (@elonmusk) May 10, 2023
Milady NFT Controversy in the Past
The Milady NFT collection has been the subject of various controversies recently. Following Charlotte Fang’s confession that she had a pseudonymous Twitter account on which she gave racist and abusive tweets, the NFT prices fell dramatically in May of last year.
OK, full disclosure: I was Miya. And its toxic baggage that’s hurting 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.
— ♡ Charlotte Fang 🐉 Crown Prince (@CharlotteFang77) May 21, 2022
Miladys are a group of profile-pic (PFP) NFTs that feature 9,823 NFTs with wide eyes that resemble those of young kids.