In a strategic move, Memecoin Milady Maker NFTs (LADYS) have announced the procurement of 7 additional Milady NFTs worth over 30 ETH, increasing their total collection to 12. The acquisition was carried out using 5% of the meme token’s ecosystem fund.
The meme coin project announced the acquisition on Twitter, stating:
1/ With $LADYS 5% ecosystem fund (~US$4mil) and a heart full of love,$LADYS have spent over 30+ ETH to acquire 7 Miladys, filling us with pride.
— Milady (@miladymemecoin) May 17, 2023
Open to the world of beauty and art, the $LADYS is ready to play its part. pic.twitter.com/XcqIPX88sR
The Milady NFTs, part of the broader Remilia Collection, feature the neo-chibi designs of the co-founder Charlotte Fang, accompanied by artwork from Milady Sonora Sprite. Since August 2021, these 10,000 profile photos (PFP) NFTs have been available on OpenSea’s secondary market. Drawing influence from the Y2K Japanese fashion subcultures, the collection has steadily gained recognition and popularity.
The recent acquisition was announced against the backdrop of notable past events. In a striking incident, the price of these NFTs experienced a significant surge after a tweet from Twitter CEO Elon Musk, who shared a meme with one of the anime-style Ethereum NFT profile pictures. Musk’s tweet spurred a frenzy of excitement among NFT enthusiasts and the broader Web3 space, propelling the price of Milady NFTs.
According to analytics platform NFT Price Floor, the entry-level price for the Milady collection on secondary markets swiftly rose from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), marking a 57% increase within 24 hours. Meanwhile, NFT marketplace OpenSea reported a market-wide sales boom, with over 600 NFTs in the collection selling for a total of almost 3,700 ETH, or over $6.9 million, in an hour alone.
Despite this positive trend, the Milady Maker project has been involved in several controversies in the past. In May of the previous year, Charlotte Fang, the creator, admitted to running a pseudonymous Twitter account that shared racist and abusive tweets, resulting in a dip in the NFT prices. Following the backlash, Fang stepped down from her role on the team.
