Author: Pix

Translation: Wenser, Odaily Star Daily

Editor's note: As the founder of the NFT series Milady, Charlotte Fang has attracted much attention due to her controversial remarks and multiple industry identities. Some say she has created a unique NFT cultural community through Milady, while others consider her an advocate of extreme ideologies. On June 13, the sale of the meme coin CULT issued by her ended, raising a total of 5861.8 ETH, but the project's official announcement is still pending.

This article introduces Charlotte Fang's past experiences, allowing readers to get a preliminary understanding of the unique story of this person known as the "NFT cult leader."

Charlotte Fang's Past: A Small Beginning

She personally established the largest NFT "cult" (due to the enthusiastic emotions and meme content displayed by Milady community members, as well as the extreme admiration for Charlotte Fang herself), but controversies and scandals related to her have been continuous. She has been condemned and even insulted by many in the industry for her extreme remarks, but recently, she still managed to raise over 20 million USD in the fundraising stage of the latest meme coin project, CULT, which she initiated. Here are some of her lesser-known stories:

Past as a Serial Entrepreneur: Milady Project Was Not Her First "Startup"

Charlotte Fang (originally named Krishna Okhandiar) did not start with the Remilio or Milady projects, but with an NFT similar to a meme coin called Yayo (according to information she once revealed). However, this project had a very short existence. Later, she returned to her beloved "old business" - the world of crypto art.

In August 2021, the Milady project was officially established, which is a novel, cartoonized NFT series, and the only thing on its roadmap was to establish a server similar to Minecraft. Surprisingly, this roadmap was well received by the market.

Milady pixelated Minecraft server

The NFT series quickly sold out and gradually expanded its ecosystem. By April 2022, the floor price of Milady had risen to 1.55 ETH, entering the ranks of second-tier blue-chip NFTs. Just when everything seemed to be running smoothly, something unexpected happened.

Source of Controversy: Social Experiment Enthusiast or Extremist?

Before Charlotte Fang entered the crypto art field (and not just art), perhaps she enjoyed some strange performance art? She referred to it as a "social experiment" called "Miya" - the protagonist was a virtual identity existing as a girl, and the Twitter account she created posted a large amount of content related to racism, homophobia, and white nationalism. In May 2022, the founder of DefiLlama revealed that Charlotte Fang was the mastermind behind this account. For a while, the NFT and crypto fields were quite shaken, and the floor price of Milady quickly plummeted.

Milady's price once plummeted to 0.26 ETH

Subsequently, Charlotte Fang turned a deaf ear to the voices from the outside world, showing an indifferent attitude and refusing to engage in dialogue on this matter.

But later, she changed her mind - she published an article countering the accusations of past racism and extreme remarks, claiming that the content posted on the social media account of the virtual girl was merely a form of "performance art," and that she was not a believer in these extreme remarks and ideologies, and that there were many misunderstandings about her remarks and behavior from the outside world.

Was it really just a misunderstanding?

From the market feedback, many people did choose to believe her explanation - the floor price of Milady rose again, and criticism from the NFT and crypto community gradually decreased.

Milady and Remilio have a community similar to a "cult." Despite many storms, many holders chose to sell, but there are still some core community members who chose to stand with Charlotte Fang and continue to stay in the Milady community. These people helped the project survive successfully in the "crypto winter" of 2022.

For about a year, the floor price of Milady has remained relatively stable, and the trading volume has been very active. And just at this time, another astonishing event occurred.

Musk's Butterfly Effect: A New Meme Symbol is Born

On May 10, 2023, Elon Musk tweeted a picture with a Milady emoji, with the text "There is no meme, I love you." (Odaily Star Daily note: The watermark in the lower left corner of the image is from a certain emoji website, imgfli.com).

Musk's unintentional act opened up the imagination of Milady

The floor price of Milady soared.

And in the course of further research, it was found that Musk may have found the Milady emoji through the X platform. (This is a speculation.)

According to Charlotte Fang herself, perhaps Musk read and quoted her research and related views on VR, AR, and accelerator directions.

Three months later, Milady became the 10K PFP NFT series with a floor price second only to Cryptopunks and BAYC.

Performance of Milady's floor price

Just as the excitement was gradually subsiding, new twists and turns were brewing.

Team Discord: A Hasty Conclusion

In September 2023, Charlotte Fang initiated a lawsuit against three internal members of the Milady Maker team.

However, little is known about the specific developments and details of this matter.

What we do know is that earlier this year, Charlotte Fang voluntarily withdrew the lawsuit.

And now, despite many controversies, lawsuits, and even internal conflicts, Charlotte Fang has still achieved remarkable results:

• Milady still ranks high in the existing 10K PFP NFT series (with a floor price around the 4th position);
• Through the pre-sale of the meme coin CULT, the project raised 20 million USD in funds;
• As an NFT with a certain influence and reach both domestically and internationally, Milady is one of the few blue-chip NFTs that frequently receive airdrops.

In the end, do you think Charlotte Fang is the originator of the "cult," or a misunderstood prodigy?

It is worth mentioning that the content of Charlotte Fang's daily tweets is quite unique, indicating that she is quite adept at gaining attention on the internet, and each tweet also seems like a "fanatical declaration" of the Milady community.

As for the future performance of the CULT token and whether she will embark on another "social experiment," we will wait and see.

Recent tweet content from Charlotte Fang

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