With its own meme effect, the old NFT Milady became popular again
Original Author: Nancy, PANews
"Value investing is in vain, and Stud wears the palace." From being unknown to being among the top 100 in market value, PEPE has completely ignited the meme market while composing the myth of getting rich. However, after digging into the early "discoverers" of PEPE, it was found that most of them were holders of Milady Maker. As a veteran PFP project, Milady once fell into a price trough due to the race and extremism of the former CEO, and then was rediscovered in value. Facing the severely homogenized PFP NFT track, how can Milady reverse word of mouth?
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Promoting PEPE to skyrocket, Milady's price and sales volume skyrocketed in the short term
Recently, "an encrypted KOL named @xiaowuDD 666 pointed out that the meme tide such as PEPE was actually hyped by NFT funds, and the earliest recommender on Twitter and the address on the chain all had Milady. And from the early address of PEPE It can be seen that there are indeed many Milady holders. For example, Dimethyltryptamine.eth, an anonymous trader who bought more than 5.9 trillion PEPE for US$263 and obtained 10,000 times the income, holds about 37 Milady. Not only that, the management of PEPE total The earliest ETH in one of the multi-signature wallet addresses with a supply of 6.9% comes from holding the Milady derivative project Remilio.
And many PEPE holders also said that they would use the profits to buy Milady after making profits, which has also led to a recent surge in the price of its NFT. According to OpenSea data, as of May 8, Milady's transaction volume exceeded 33,000 ETH, the number of holding addresses exceeded 3,300, the floor price was 4.1 ETH, and the minting price was only 0.06 ETH. In the past 7 days, Milady's trading volume has increased by 1117%, and the floor price has increased by about 47%.
In addition, many netizens revealed that in addition to PEPE, Meme coins such as WOJAK and Mememe are also fueled by the Milady community. And there is indeed a Memecoin group in Milady Discord, and it is only open to holders.
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Created by an anonymous team, the Cult culture fits the Meme core
As an NFT project born in 2021, Milady was launched by the anonymous online team Remilia Corporation. Remilia is an anonymous digital art DAO of about 70 people. The name of the organization comes from the character Remilia Scarlet in the Touhou Project game. Members of Remilia Corporation are anonymous, even to each other, and run primarily through Twitter group DMs, many of whom are art school graduates or dropouts.
Remilia founder Charlotte Fang is a dropout and the core creator of Milady. She once revealed that Remilia focuses on deep-seated deviance online performances. The reason for this is related to the disregard of political correctness by crypto evangelists.
As a PFP project consisting of 10,000 NFTs, Milady is inspired by the neochibi aesthetic inspired by Tokyo street fashion in the 00s. In Japanese manga, chibi is an exaggerated manga technique used to refer to a childlike and infantile painting style, characterized by a big head and big eyes, which is well reflected in Milady's style. Drip Score is the rating system used by Milady to judge the rarity and fashion of each Milady NFT, ranging from D, C, B, A, S to SS. This scoring standard is somewhat similar to Japanese electronic and card games.
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Subcultural Street Fashion in Tokyo in the 00s
However, Milady's reputation took a sharp turn for the worse due to the Charlotte Fang scandal. In May 2022, DefiLlama founder 0x ngmi published nearly 20 tweets and GitHub posts, disclosing that Charlotte Fang had close ties to a 4chan-based suicide cult and was a radical internet extremist who once went by the name "Miya". Identity posted a lot of racist extreme remarks and content in support of anorexic girls.
0x ngmi wrote in a tweet that Miya was involved in a suicide cult called "systemspace" that spread through 4chan and claimed that "everyone who registers on the site and commits suicide will go to Paradise after death, a A 17-year-old Canadian boy committed suicide because of it."
Not only that, but 0x ngmi also claimed that Fang and other members of Remilia were members of the online suicide cult TSUKI Project in 2017. In this regard, Charlotte Fang admitted that she is Miya, and argued that she was never a true believer in the TSUKI project, and only posted and tweeted in the group DM because it was fun, and said that "Remilia's approach is not the same as 4chan's. Or far-right platforms like Gab. Miya is just a piece of performance art, and whether it’s Miya or another alias account called Sonya, it’s her way of exploring activism and accelerationist rhetoric on the internet.”
As soon as the news came out, the Milady community immediately exploded. For this reason, Charlotte Fang opted out of the project and tweeted, "I apologize for trying to hide the past account. Miya has no relationship with Milady Maker and should remain so Status, so I'm retiring from the team as of today. Make no mistake, my true opinion has no room for hate, I hate abusers and inducers. Spraying around is childish, but I've never actually hurt a fly .”
With the departure of the CEO, some community members sold a large number of NFTs to show their attitude, and Milady experienced a long period of downturn. Then, under the test of the NFT market and the bear market with very rapid gameplay iterations, Milady can gain the trust and love of investors. In addition to being related to Meme coins such as PEPE, there are the following reasons:
On the one hand, in April 2022, FloorDAO, a decentralized NFT market maker, proposed to include Milady in the investment list, saying that it would sweep the floor price of the project down to 2 ETH, which brought a lot to the project to a large extent. This is also reflected in the substantial increase in transaction volume between April and the end of May 2022.
On the other hand, Milady's cult culture is well recognized. It is difficult to find a proper Chinese translation for the word "Cult". They will also be deeply fascinated and followed, which in turn makes this interest and its symbol a representative of a small circle. The most successful cult cultures aren't just grotesque; they also have a loyal following, because the people they follow are narcissistic and speak a language that only those in their circle understand. The official description of this spirit is "Angelicism". Unlike BAYC, which expresses rebellious emotions on the face, Milady advocates using the subconscious/unconscious to fight against authority. "Milady is a parasite, and Angelicism is its host." A community member once described it this way.
In addition, Milady's high APY on the NFT lending platform NFTX has also attracted many DeFi players. According to NFTX data, as of May 8, Milady's APR reached 34.1%, and TVL exceeded 3.91 million US dollars, ranking second in NFTX; a total of 1,588 Miladys were deposited, accounting for market holdings (excluding the 500 held by the team) 16.7% of the total).
And Milady is not just a simple PFP project, it also provides a variety of engagement activities and utilities to make NFT more narrative and build community cohesion, including Milady VRtube, Milady Raves, Miladycore Bootlegs and Milady Minecraft Metaverse. For example, Milady Rave cooperates with local underground bands in big cities such as New York, London and Tokyo, allowing holders to hold parties in the form of warehouse carnival; Use any Milady etc. while streaming or video calling when the Graph app is connected.
It is worth mentioning that Milady also actively encourages "right-click" behavior and actively supports derivative projects such as Remilio. Its Miladycore Bootlegs also sells designer imitations, which also makes it have a Meme effect.
