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Milady did it | Without a bank
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Milady did it
Milady Maker is one of the strangest and most ineffable NFT projects on the market.
It lies on the “cult” rather than the “yacht club” side of the social spectrum, although its traditions and controversies are too vast and nuanced for me to explain in just a few paragraphs here.
But what is completely clear? Milady holders have been the big winners in the ETH NFT scene as of late. Today, Milady’s floor price reached a new all-time high of 5.23 ETH, marking a 50% rise over the past 3 months.
During the same period, CryptoPunks, Bored Apes and Pudgy Penguins saw their floor prices drop by 49%, 35% and 33% respectively!
So, what is behind this huge outperformance from Milady?
Of course, there is no such thing as a monolithic engine, as various circumstances and factors have contributed to this dominance. But if I had to give a simple reason to try to explain it as best I can, I would cite this graph by GAMI:
Long story short, I think that lately, more and more people are fed up with the increasingly corporate atmospheres around big projects like “Punks and BAYC”, and in this environment, the Milady collection fit perfectly positioned as a cult classic.
At least that’s my interpretation of the situation, and I know that this corporate rejection is only part of the puzzle here, of course.
Yet, agree or disagree, love it or hate it, Milady has a countercultural flair that makes it appealing in a way that many other NFT projects currently are not. , and there is certainly a lesson to be learned from this!
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