Elon Musk’s tweet featuring a meme with one of the Ethereum-based anime-style profile pictures (PFP) known as Milady Maker NFTs has caused their value to soar. In just one hour after the tweet, the image generated more than 4 million views and tens of thousands of interactions. The initial cost for purchasing Milady Maker NFTs on secondary markets increased from 3.75 ETH to 5.25 ETH, resulting in a 57% rise in the NFT’s value in 24 hours, according to NFT Price Floor’s data.
The tweet did not just affect Milady Maker NFTs but had a notable impact on the entire NFT market, as sales surged, according to OpenSea. In an hour, more than 600 NFTs from the collection were sold, amounting to around 3,700 ETH or over $6.9 million, making Milady Maker the top-selling project during that time.
The Milady Maker NFTs, however, have not been without controversy. Last year, creator Charlotte Fang admitted to managing a Twitter account under a pseudonym that posted racist and abusive content, causing a decrease in NFT prices. Fang stated that she had resigned from the team at that time.
Some NFT traders and members of the crypto industry have weaponized Milady Maker NFTs by sharing the artwork on social media, as regulatory bodies such as the SEC intensify their scrutiny on cryptocurrencies.
