Elon Musk's tweets have once again had a significant impact on the cryptocurrency market, this time in the world of non-fungible tokens (NFTs).
Elon Musk Tweet Sends Milady NFT Collection Floor Price Upwards
Elon Musk's tweets have once again had a significant impact on the cryptocurrency market, this time in the world of non-fungible tokens (NFTs). Musk tweeted a picture of a "milady" NFT, a digital art piece featuring a medieval-style portrait of a woman, which quickly became one of the most sought-after NFTs on the market. The tweet sent the NFT's floor price soaring, with the value rising by more than 50% in a matter of hours.
The surge in demand for the "milady" NFT underscores the growing popularity of digital art and collectibles, as well as the significant influence that high-profile individuals like Elon Musk can have on the market. While some in the NFT community may see Musk's tweet as a positive development, others caution against relying too heavily on the whims of celebrity influencers and argue that the value of NFTs should be based on their inherent artistic or cultural value, rather than on the endorsement of famous individuals.