Elon Musk did it again! The CEO of Twitter posted a meme about the non-fungible token (NFT) collection called “Milady,” causing this project to skyrocket in value and volume to historic numbers.
Elon Musk, the CEO of Twitter and renowned entrepreneur, shared a meme about the non-fungible token (NFT) collection called “Milady” on Wednesday, which caused a significant boost in the project. Musk tweeted on his social media platform, resulting in the value and popularity of the collection skyrocketing to historic numbers.
The message in the image reads: “No meme, I love you.” As a result, sales of Milady’s NFTs increased by up to 500% in the last 24 hours, according to the report from NFT Price Floor, a renowned platform providing data and metrics on NFT collections worldwide.
To gain a deeper understanding of the impact of Elon Musk’s meme tweet on the collection, the Milady Maker NFT project surged to the top of the trending list on OpenSea, the most popular secondary marketplace in the NFT industry.
In addition, the floor price reached a record high, standing at 7.3 ETH or approximately $13,700 USD. According to NFT Price Floor data, the collection’s base price on multiple secondary markets increased from 3.75 ETH ($6,920 USD) to 5.25 ETH ($9,700 USD) within 24 hours, indicating a 57% growth in the value of the NFTs.
Many users have drawn a parallel between Elon Musk’s influence on other projects in the crypto industry, such as the value of Dogecoin. Furthermore, the NFT marketplace OpenSea has reported increased sales of the collection across the market and confirmed the sale of approximately 600 non-fungible tokens in just the past few hours.
As a result, the project generated around 3,700 ETH, which amounts to over $6.9 million USD. Ultimately, the Milady Maker collection emerged as the top-selling collection in the past day, surpassing all other projects during this time.
According to CoinMarketCap, the number one site for statistics and project values in the blockchain world, Milady Maker NFT secured its leadership position in sales volume among all NFT collections in the last 24 hours.
About the Milady Maker NFT collection
Milady Maker was created and launched on 08/23/2021 and is a project consisting of 10,000 non-fungible tokens (NFTs) popularly known as PPF/avatars. These unique digital items are hosted on the Ethereum blockchain and are part of a project driven by Remilia Collective.
The goal of the NFT collection is to showcase randomly generated cosmetics inspired by Tokyo street fashion from the 2000s. In addition, Remilia Collective has other projects in the digital collectibles space, such as:
- Redacted Remilio Babies, launched in August 2022.
- This User… Banners, created in July 2022.
- Milady, That B.I.T.C.H., launched in February 2022.
- Bonkler, launched in April 2023.
Returning to the news about Elon Musk’s tweet that sparked the growth in the project, it is not the first time that the Tesla CEO has sent such messages to the Web3 community with a simple post. In April, he replaced Twitter’s iconic bird logo with the Dogecoin symbol, resulting in a 25.69% increase in Dogecoin’s value within 24 hours.
Similarly, in January 2022, Musk’s announcement that Tesla would accept Dogecoin as a payment method caused the cryptocurrency’s value to increase by 18% in just a few hours.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.