NFT collection “Milady” have slumped nearly 70% in the past week amid the drama that revealed its creator, Charlotte Fang to have a controversial personality linked to suicide, white supremacy, and anorexia nervosa support group on 4chan.
Last week, many Twitter accounts spread rumors that the team behind Milady actually has a member named “Miya”, a key member of groups advocating extremism and toxicism. This poster has compared black people to apes, declared that anyone can save the country by murdering the Jews, and tagged homosexuality as a sickness or disease. People also assumed that Miya was involved with a group or community likened to a suicide cult vouching for a so-called cyberpunk afterlife.
Shortly after these scandalous Twitter posts, Fang admitted that she was Miya but implied her posts were just kidding around or trolling.
However, these insincere statements made the online community even more outraged, resulting in a direct impact on the Milady NFTs. From its peak of 1.59 ETH on May 20, the collection’s floor price is now plunged to 0.31 ETH, down nearly 80% in less than 7 days.
Milady is an avatar collection of 10,000 NFTs drawn in a distinctive style. This collection made more mainstream during February-March 2022 and was promoted by many famous Twitter accounts in the crypto community.
This is the 2nd well-known NFT project to get involved in its creator controversies this May. Earlier, Zagabond, founder of the NFT collection Azuki, admitted he was behind three allegedly rug pulled projects—CryptoPhunks, Tendies, and CryptoZunks. Within a year, he abandoned 3 projects. Zagabond even proudly declares that these are the lessons to develop the successful Azuki to this day. Zagabond’s revelation has met with many fierce criticisms from the NFT community, causing Azuki NFTs’ price to plummet to the bottom.
However, there are many theories that these are the “bull traps” from NFT projects to make the NFTs’ price fall and thereby blowing the price up.
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