On May 10, 2023, Elon Musk, the owner and CEO of Twitter, tweeted a meme featuring one of the anime-style Ethereum NFT profile pictures (PFPs) from the Milady Maker collection. The image, which reads “There is no meme. I love you,” quickly went viral and has been viewed over 4 million times in under an hour. The tweet also sparked a surge in the price of Milady Maker NFTs, similar to the impact that Musk’s tweets have had on the price of Dogecoin in the past.
According to data from NFT Price Floor, the entry-level price for Milady Maker NFTs on secondary markets immediately jumped from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), resulting in a 57% increase over the past day. The surge in prices also prompted a flurry of excitement and enthusiasm among Milady Maker NFT holders and others in the Web3 space.
This is what a war-time CEO looks like pic.twitter.com/KoJ5QKNWNx
— señor doggo 🏴🏴☠️ in his wartime ceo era (@fubuloubu) March 23, 2023
In addition to the rise in prices, NFT marketplace OpenSea reported a market-wide sales surge, with over 600 NFTs from the Milady Maker collection sold over the last hour, totaling approximately 3,700 ETH or over $6.9 million worth. The Milady Maker project has become the best-selling collection during this span.
The impact of Musk’s tweet highlights the power of social media influencers and their ability to move markets. As the popularity of NFTs continues to grow, it is likely that we will see more instances of social media influencers and celebrities driving prices through their endorsements and promotions.
In conclusion, Elon Musk’s tweet of the Milady Maker NFT meme has caused a surge in prices and sales, demonstrating the influence of social media in the world of NFTs. As the NFT market continues to evolve, we can expect to see more instances of influencers and celebrities impacting prices and driving market trends.