Introduction to Blue Chip NFT Milady | Bear market winner, how did a former cult project transform into a meme currency speculation group?

Milady Maker Quick Start Mini File

Milady Maker Chapter 1: Summoning Circle for the Millennium

Milady Maker is a PFP NFT project issued on Ethereum in August 2021. The style is drawn from neochibi and the Japanese Y2K street style that swept the world in the 2000s and has recently come back into circulation. There are 10,000 photos in the entire Milady series, with female portraits in different costumes and early Japanese shoujo comics with oversized eyes that are more than half of the head, a forum-style official website and brisk-paced game music. Together, they are like trying to summon the people around the millennium. A time and space where subculture flourishes.

Each Milady has a Drip Grade score to assess the value of the overall style, and each clothing accessory is scored based on its rarity, which is then weighted based on how special the different parts are, before individual multipliers are calculated for theme or completeness. Drip Grade is designed to help connect value and aesthetics, unlike ordinary NFTs that are graded based on pure idiosyncratic scarcity. Milady's Drip Grade is graded by letters (D, C, B, A, S, SS) to classify the quality of individual Milady.

Because of this kind of spoof and extremely avant-garde style, Milady quickly attracted attention due to the uniqueness of the images, and quickly accumulated a group of fans who have the same feelings for Japanese comics, daily miscellaneous FRUiTS, and neochibi styles, but also because of the aesthetics Milady, a niche product on the Internet with an issue price of 0.05 ETH, took more than half a year to complete, and it was not until March of the following year that it was fully minted.

At the same time, Milady was also rated as the ugliest NFT project in history by another group of NFT players. It received mixed reviews from its inception, perhaps predicting the controversial path Milady was destined to take.

Milady Maker Chapter 2: Creating Niche Universes, Bootleg Shops, and Rave Parties

Although the visual style of Milady's PFP is considered by many to be rough and jokey, just like Mfer, an NFT project driven purely by the community and memes, the ambitious Milady wants to bring people not just images, but a culture Attitude, a worldview and way of life.

Milady's core ideas are composed of five elements: "post-authorship", "posting is the new art", "abundance mentality", "white pill" and "internet spirituality". Milady believes that certification, provenance, patents and copyrights are all ways to kill works. The baggage flows freely, so plagiarism is a practice to prevent artistic works from being hindered. People should have a rich mentality to get rid of the spiritual poverty caused by scarcity. Believe that love and optimism will be rewarded if you work hard every day. Embrace the influence of the Internet Come surreal futurism.

To put it simply, they are a group of radicals who are a bit hippie, remember the past, regard the Internet as a key accelerator and carrier of the new century, and regard the liberation of art as a sacred mission. This spirit is also reflected in their activities. Launched "Milady Raves", "Milady VRtube", "Miladycore Bootlegs" and "Milady Minecraft Metaverse".

While other NFT projects are busy hosting high-end yacht parties, Milady is bringing the underground rave parties of the 1960s back to the stage in New York, London, and Tokyo, and has cooperated with Hologram Labs to launch the Milady VTuber avatar, which only needs to use the exclusive application , NFT holders can incarnate their own Milady in any live broadcast or video call. They even launched peripheral products that deliberately copied high-quality styles and combined with Milady's avatar to promote the concept of copyleft, and at the same time established an exclusive metaverse for the holder in the old game Minecraft.

Until this stage, Milady still seemed to be a cool, freedom-loving niche group, and the floor price was growing steadily with the efforts of extremely loyal holders, until the scandal of the founder broke out.

Milady Maker Chapter 3: The founder's status as a cult has been revealed, and the floor price has plummeted

Milady was launched by the anonymous DAO team Remilia Corporation . The name comes from Touhou Project, one of the fan works developed by the game studio Shanghai Alice Fantasy Band. Remilia is taken from the character Remilia Scarlet in the game.

Remilia Corporation is not a physical company, but is composed of multiple teams that keep their identities hidden and are only connected by anonymous accounts. It is a virtual tribe whose members are mostly artists or art school dropouts, and the notorious founder Charlotte Fang Also one of them.

In May 2022, not long after Milady was sold out, Remilia Corporation CEO Charlotte Fang was revealed to be someone who had been officially suspended in the past because of her repeated remarks about racism, homophobia, misogyny, advocating Nazism, and encouraging anorexia. The user of the Twitter account "Miya", including Charlotte Fang, has been accused of participating in a cult to manipulate minors, using their desire for recognition and acceptance to engage in self-loathing or self-harming activities, which may even lead to the death of a Canadian of teen suicides.

At first, Charlotte Fang did not admit that she was Miya, until more and more evidence pointed to Charlotte Fang as the main user behind Miya, Charlotte Fang finally admitted and announced her withdrawal from Milady's executive team. However, according to Charlotte Fang’s statement afterwards , Miya is a subcultural identity that publicly advocates sharing authors. It is operated by multiple people behind it, inheriting the Troll spirit of the anonymous forum 4chan , and trying to fight against cancel culture with a cynical attitude. A practice of performance art, testing the artistic boundaries of NFT, Miya does not have any hate views, nor does she want to hurt anyone.

Whether you buy Charlotte Fang's rebuttal or not, the market has clearly expressed his position through actions. Since the founder's wonderful dark history was revealed, Milady's price has dropped by nearly seven in a week from its original peak of 2 ETH. , the lowest reached 0.25 ETH, and it will not be able to successfully break through 1 ETH until 2023.

Milady Maker Chapter 4: Diamond Hands Survive the Low Ebb, Market Makers Take the Lead to Save the Project

Under the devastating blow of such massive selling by holders, any project may go all the way to zero and become another NFT that disappears in the torrent of history. But perhaps it is the particularity of Milady's niche culture that makes the remaining holders more united. In addition, cryptocurrency is a market that is relatively indifferent to morality and politics. Milady upholds his "embracing freedom of speech and art" , the "anti-cancel culture" argument survived.

According to the data from NFTSCAN, Milady is famous for having many diamond holders, 42.39% of the holders have held it for more than 3 months, and 34.08% have held it for more than a year, and there are many famous people in the industry, including Aave founder Stani, bankrupt Three Arrows Capital founder Su Zhu, Paradigm research partner Dave White, and NFT social platform Pulsr founder Maxine Ryan, among others.

Coupled with the rise of the NFT lending agreement and the assistance of market makers at that time, the lending platform NFTX provided Milady with a high-year pledge APR, NFTPerp launched Milady, etc., making Milady the second-ranked NFT project at the time. With the support of both the market and the market, Milady has survived the trough and is ready to take off.

Milady Maker Chapter 5: The world's richest man, Musk, calls out orders, and NFT and Ladys tokens skyrocket

In May 2023, the Twitter account of the world's richest man, Elon Musk, released a Meme of Milady without warning, in

While the post received more than 250,000 Likes and 24,000 reposts, it shook the NFT blue chip sector. The Milady NFT floor price soared by nearly 50% within 24 hours, and the single-day transaction volume was 8,000 ETH, the highest The price reached 4.8 ETH, instantly surpassing many blue-chip projects that fell to death in the bear market.

Released in August 2022, the sub-project is also Milady's younger brother Remilio Babies , which also ushered in a 5-fold increase, reaching a price of up to 1.87 ETH. (However, it has fallen back to the starting point)

Interestingly, it is said that it was released on May 9 by supporters based on paying tribute to Milady. LADYS, a meme coin that has nothing to do with the official, also benefited, with a single-day increase of more than 20 times. Bybit, Huobi and crypto.com etc. The well-known exchange relayed the listing, and the relay PEPE ignited the meme frenzy in the market, making the entire meme season last for two months.

In this upsurge, DWF Labs , the mysterious venture capital institution and market maker we introduced earlier, seemed to have predicted the future. It quietly entered the market a day before Elon Musk posted an ambush, and held up to 300% before the final crash. trillions of tokens, and a wave of operations raked in more than 600,000 U.S. dollars.

Milady Maker Chapter 6: Become a memecoin hype group? Suspected to be behind the scenes of PEPE ten thousand times

While LADYS was growing explosively, someone dug out the opinions expressed in April by KOL 0x Xiao Wu, who loves red dogs in the Chinese circle, and pointed out that the wave of meme tokens like Meme is very likely to be dominated by Milady holders It was hyped up by the NFT fund group. Many wallets that made profits on PEPE also purchased Milady one after another, further pushing up the price of Milady.

Actually comparing the wallet addresses of early holders of PEPE, it is indeed found that many people are Milady holders at the same time, including the trader Dimethyltryptamine.eth who has earned ten thousand times the income in PEPE. Early Shib investor @hkusastockkings tracked and found that PEPE, LADYS, Wojak, RFD, Ben, Psyop, Mememe, FANTA, RBE, FREN, Midwit, these meme tokens, which cost ten times or a hundred times at every turn, may all be members of the Milady team masterpiece.

You thought you were rushing for meme coins, but you chose the wrong time to get off and unfortunately lost money; but it turns out that you are probably giving money to whale and voluntarily walked into a well-planned gold-absorbing trap.

However, this strategy of sucking blood from the outside to irrigate projects seems to be quite effective. In Opensea's 30-day trading volume rankings, Milady has surpassed many old blue chips and climbed to the sixth place. In this major reshuffle of the collapse of the NFT bear market, Milady can be said to be one of the very few winners.

Although it seems to have withdrawn from the project, to this day, we can still see that Charlotte Fang or Remilia has a very large influence on the CT (Crypto Twitter) circle. Milady's power has actually begun to slowly penetrate the entire crypto. Will an anonymous Internet group hold such a huge amount of money to serve their deeply believed, somewhat crazy values, and cause more cultural or political impacts? We can only hope that Remilia will stick to its original intention and use these resources in a cycle of good.

Conclusion

What is interesting is that although Milady has established strong community cohesion by claiming to resist the mainstream and has gathered some alt-right supporters, she chooses to retreat to "just for fun" when encountering controversy. The pale stance makes it clear that the so-called resistance to authority and political correctness is just selling pirated peripherals copied from other high-quality products to supporters. Although it is covered in subculture, the result looks no different from other NFT projects. At best, it may be a group of Trollers who make money.

However, judging from the recent waves of successful meme currency hype, Milady at this stage may be more like transforming into the Membership Pass that was once a hit in NFT Summer. Joining the group can be the first to obtain Alpha leaks with high investment rates. However, the previous speculation What’s new is NFT, and now what’s being speculated on is Meme coin, which has a lower threshold and a larger total amount of funds. As the saying goes, "Meme's end is always zero, the question is when." With such hands behind it, in the future, in addition to playing games with robots, it will be even harder to win money.

But Milady’s success, to some extent, is quite consistent with the parody and satire side of cryptocurrency. As an NFT that rarely develops offline activities, has no roadmap and does not plan to actively add value to NFT, it is difficult to say that NFT has any fundamentals or long-term investment benefits, but it has become a unique project in the bear market because of its unique culture. It means that in addition to the continuous buying in the market, there are also many holders who have successfully resisted the temptation to cash out and would rather continue to be loyal Holders.

In reality, funds, market makers and even project parties will betray you, but strong community recognition (probably) will not, at least this is what Milady holders believe.

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