NFT Market Surges, Milady NFTs in the Limelight
Date: May 26 - June 2, 2023
In this NFT recap, we'll delve into all the essential developments in the NFT space over the past week, ensuring you stay informed and up-to-date on the latest happenings. NFT is all about attention, and attention shifts quickly! There are tons of updates and excitement to share on this week’s NFT Market Recap. We hope you enjoy :) 👇
📈Market Overview
🔑Key Takeaways
- Overall Market Trend: The market experienced a surge in daily unique traders, reaching the highest level since April 28, suggesting a potential return of the bull market. However, trading volume and the number of daily traders remain significantly lower compared to the local bear market highs, indicating that the market still has a long way to go. Despite this, certain collections, such as Jack Butcher and Memeland are thriving, and new mints are becoming profitable again, which may attract more traders. With broader crypto liquidity concerns and the likelihood of sideways movement in the near future, an NFT summer could still materialize, offering growth and activity within the NFT market while the overall market remains uncertain.
- Trading Volume: NFT volumes remain flat, with most NFT sales being facilitated via Blend, indicating increased user familiarity and availability of collections.
- Azuki(hiAZUKI) and BEANZ(hiBEANZ) showed significant market strength, likely due to their upcoming events in Las Vegas.
- Chromie Squiggles(hiSQUIGGLE) experienced the biggest hit as it retraced from last week’s rise, dropping 12% over the past week.
🗞️Major NFT Headlines
- Doodles and CAMP Join Forces to Launch a Hybrid Digital-Physical Experience This Summer for Enhanced Community Engagement.
- Mercedes-Benz Ventures into Web3 with Innovative NFT Project and Launches Comprehensive Program, 'Mercedes-Benz NXT.’
- Yuga announced new details for Otherside Legends of the Mara featuring alliances, which will pool from other Yuga PFPs along with 3rd party PFPs.
- Hong Kong Web3 Leaders Launch HKLVAA and Web3 Harbour Associations, Aiming to Position City as a Global Web3 Hub.”
- Former Volunteer Turned CEO, Henry Finn, Revitalizes 0N1 Force Brand with an All-Star Team, Including Batman Franchise Veteran, David Uslan.
- F1 Race Tickets Being Issued As NFTs for Monaco Grand Prix.
- Nike sells 55K+ virtual sneaker boxes for $1M+ in one day on @dotSWOOSH.
- Kanpai Pandas Launches 'Kanpai Media', a Diversified Content Platform Delivering Distinctive Coverage in Gambling, Sports, Crypto, and Beyond.
🚀Milady: A Controversial Yet Compelling NFT Project
On May 10th, a tweet by Elon Musk, saying, "There is no meme, I love you," sparked a surge in the floor price of Milady, an NFT project that has been in existence since 2021, from 3.75 ETH to over 7 ETH within an hour. While some critics dismiss this as a fleeting Musk-induced hype, akin to his infamous Dogecoin shout-outs, the remarkable performance of Milady in the bear market cannot be overlooked. The floor price had tripled before this tweet. Let’s dig into what Milady NFTs are all about in this article.
The Controversial Beginnings
Many might be by the negative press surrounding Milady's founder, Charlotte Fang, embroiled in allegations of racism and association with a suicide cult in May 2022. Following Fang's admission of her connection with the suicide cult and her subsequent departure from the Milady team, the project's floor price plummeted.
Given the gravity of these allegations, it appeared that Milady's story was finished and would fade into the annals of NFT history. However, Milady proved the naysayers wrong, not only by its price trends but also by its continuing influence.
A Counter-Culture Movement
Milady has resonated with a certain group of individuals often considered "geeks" or "deep Degen players," many of whom have chosen Milady NFTs as their Twitter profile pictures. Notable examples include Synthetix founder Kain Warwick and Muse DAO developer @surfcoderepeat. While this group may not be particularly large, its ability to leave a memorable impression is significant.
What makes Milady so intriguing is its counter-culture spirit, as expressed by one of its community members, CodeBoy. According to him, Milady represents a rebellion against the mainstream and censorship, where art and freedom of expression thrive in the face of controversy.
The Art of Milady
As described by Charlotte Fang, the artistic core of Milady is based on the subculture trends on the streets of Tokyo from the late 1990s to the early 2000s. The unique amalgamation of Neochibi anime style with dark themes gives Milady its distinctive 'Cult' flavor.
Despite the project's controversies, its community stands strong and has grown in strength. Tamara, another community member, believes that the spirit inherent in Milady has turned it into a badge of honor for controversial figures, thus adding to its appeal.
The Resilient Milady Community
At the heart of Milady's resilience is its community, a diverse group of individuals, who, akin to the "crazy" creatives at Andy Warhol's The Factory, contribute to the project's allure and growth. In the ever-evolving NFT market, the Milady project is a unique venture with a captivating aura that has maintained its appeal amidst controversies and challenges.
Despite negative narratives and daunting hurdles, Milady has survived and thrived, offering a fresh perspective on the NFT space. It reminds us of the power of 'vibes' and community, often overlooked in the search for grand narratives. It is a testament to the potential of genuine emotional connection, the most solid foundation for exploring infinite possibilities.
Conclusion
In conclusion, the enduring appeal of Milady in the NFT community highlights its unique aesthetics and rebellious spirit. Despite the controversy, it thrives due to its resonance with its audience. Its significance reminds us to appreciate diverse voices and artistic expression in the vibrant and evolving world of NFTs.