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Milady Made It
Published on June 21, 2024
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Milady Made It

Milady Maker is one of the weirder, more ineffable NFT projects around.

It's on the "cult" side rather than the "yacht club" side of the social spectrum, though its lore and controversies are too expansive and nuanced for me to explain in just a handful of paragraphs here.

What is abundantly clear, though? Milady holders have been the big winners in the ETH NFT scene lately. Today, the Milady floor price reached a new all-time high of 5.23 ETH, marking a 50% climb over the past 3 months.

In this same span, CryptoPunks, Bored Apes, and Pudgy Penguins saw their floor prices drop 49%, 35%, and 33% respectively!

via NFT Price Floor

What's behind this huge Milady outperformance, then?

Of course, there is no monolithic driver, as various circumstances and factors have contributed to this dominance. But if I had to give one simple reason to try to explain it as best I could, I'd point to this graphic by GAMI:

via GAMI

Long story short, as of late I think more people have gotten fed up with the increasingly corporate vibes around top projects like 'Punks and BAYC, and in this environment, the Milady collection has been perfectly positioned as a cult classic foil.

That's my read on the situation at least, and I know this corporate rejection is only part of the puzzle here, to be sure.

Yet agree or disagree, love it or hate it, Milady has a countercultural flair that makes it appealing in a way many other NFT projects aren't right now, and there's certainly a lesson in that!

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