Following a tweet from Tesla CEO and SpaceX founder Elon Musk, the floor price of Milady non-fungible tokens (NFT) spiked from 3.8 ETH to 7.3 ETH before falling back to 4,96 ETH, at the time of writing.
Tweet Inspires NFT To Surge
Musk’s love affair with crypto continues to fly high as the new Twitter CEO recently tweeted a meme created using imagery from the Milady NFT collection. The tweet which read, “There is no meme. I love you”, amassed a staggering 4 million times in less than an hour.
Soon after, Milady, a profile-pic (PFP) NFT consisting of 9,823 NFTS featuring wide-eyed childlike faces jumped more than 53% in just 24 hours, on NFT marketplace OpenSea. The surge mirrored the impact Musk’s tweets have had on the price of the memecoin Dogecoin (DOGE) in the past.
— Elon Musk (@elonmusk) May 10, 2023
Created in 2021 by digital arts collective Remilia, Milady is a collection of 10,000 anime profile picture NFTs inspired by street-style tribes. Artist Charlotte Fang founded the Remilia decentralized autonomous organization (DAO) and helped design the series.
The Milady NFTs have been mired in controversy after Fang acknowledged that she had operated a pseudonymous Twitter account that shared racist, abusive tweets. Following the incident, in May 2022, Milady NFT prices took a hit, falling more than 50%.
Musk’s Love Affair With Crypto
Musk has been dabbling with the crypto world for quite a long time, now. He has been credited for increasing the prices of cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE) by posting positive messages that have encouraged more people to buy digital currencies. The Tesla CEO has been a staunch supporter of Dogecoin (DOGE) triggering the memecoin price. Last month, the Twitter CEO changed the traditional logo of Twitter to DOGE, catapulting the digital token.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
Back in 2021, the Billionaire had said that he has been working with Dogecoin developers to improve the network since 2019. In the same year, Musk proposed a space mission to the moon citing it would be funded entirely by Dogecoin (DOGE). The Twitter CEO had earlier stated,
“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX’s own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.”
Last year, Musk emphasized in an interview he gave to Time Magazine that he would favor the introduction of Dogecoin as a transactional currency over the more popular Bitcoin. The eccentric Twitter CEO had also rooted for Bitcoin (BTC) after Tesla bought over $1.5 million worth of BTC. He had also added the hashtag bitcoin to his Twitter bio, in 2021, briefly pushing up the price of the cryptocurrency by as much as 20%.
