Elon Musk Effect: Miladys NFT Floor Price Skyrockets Because Of This Tweet

NFT collection Miladys reigns supreme on OpenSea topping other collections such as the Bored Apes after its floor prices increased by 59%. The price spike was reported on Wednesday afternoon following a Tweet from Elon Musk.

As seen below, the entrepreneur and Twitter CEO posted a meme containing one of Miladys NFT avatars. Proving that the “Musk Effect,” which triggers a price increase in things sponsored by Musk, is still alive and in full force.

The gif, which was overlaid with the caption “There is no Meme, I Love You,” instantly caught the attention of the NFT community. Immediately, the market saw Miladys floor prices record significant gains.

Elon Musk Pushes Miladys Floor Price

Elon Musk is famous in the crypto space for significantly impacting the prices of DOGE and other memecoins. When Musk posted the gif in a tweet on Wednesday, Miladys NFT collection started trending on Opensea, and its floor price reached an all-time high of 7.3 ETH ($13,475).

The massive spike in floor prices of Miladys brought excitement to holders and boosted the popularity of its NFT collection, which was relatively popular before Elon’s tweet.

When writing, trading reports from OpenSea on the Miladys NFT collection show a decline in its floor prices from 7.3 ETH to 5.4ETH. Although its NFT sales are still up by 1,845 (57%), the collection records a +131% trading volume increase.

What You Should Know About The Miladys NFT Project

The Miladys NFT collection comprises 9,823 unique wide-eyed, childlike faces, which can be purchased/sold and transferred from one collector to another in NFT marketplaces such as OpenSea.

The Miladys NFT collection, introduced to the NFT markets in March 2021, was created by Charlotte Fang, who is also behind the Remilia project.

Before today’s sudden increase in floor prices for Miladys NFT, the project had been controversial. NFT creator Charlotte Fang doxxed himself in May 2022, revealing that he had been operating a pseudonymous Twitter account. This account had shared abusive and racist tweets, causing public outrage.

Miladys NFT creator Charlotte Fang was reported to have immediately stepped down from the project team in May 2022 after apologizing to the public for the statements posted via the pseudonymous account.

Elon Musk

newsby.top • 2023