Earlier today, Elon Musk demonstrated the influence of high-profile personalities on the Web3 market. A tweet from the Twitter and Tesla CEO led to a dramatic surge in the popularity and value of the Miladys NFT collection on OpenSea.
- Elon Musk’s tweet propelled the Miladys NFT collectibles to the top trending spot on OpenSea, with the floor price temporarily reaching an all-time high of $13,700 (7.3 ETH).
- The floor price later dipped to 5.6 ETH, illustrating the volatility of the NFT market and the rapid fluctuations that can occur due to external factors.
- Nevertheless, the dramatic rise in the NFT project’s floor price highlights the heavy influence that high-profile personalities can have on the digital assets market.
Elon Musk’s Tweet Propels Miladys’ Popularity
In an unusual turn of events earlier today, Twitter CEO Elon Musk thrilled fans of the unconventional Miladys’ NFT collectibles, tweeting a picture of the NFT meme, embellished with the text, “There is no meme, I love you”.
The digital representation of this cute avatar collectible instantly grabbed the attention of NFT enthusiasts and Twitter users alike. The digital assets instantly skyrocketed in popularity as a result, securing the top trending position on the notable NFT marketplace, OpenSea.
Surge in interest resulted in the floor price of the NFTs hitting a record-breaking high of $13,700 (7.3 ETH). However, the floor price did not sustain this apex for a prolonged period, shortly receding to 5.41 ETH (at this time of writing).
This past week — before the tweet’s existence — the NFT project also witnessed a notable uptick of 59%, demonstrating the growing investment and interest in Miladys NFTs.
The Power of High-Profile Personalities
The dramatic ascent in the NFTs’ floor price following Musk’s tweet highlights the heavy influence that high-profile personalities can have on the digital assets market.
With a simple, seemingly casual tweet, Musk demonstrates his knack for drawing attention and stirring interest in the large-scale digital space. Not only did his tweet invigorate Miladys’ fanbase, but it also sparked lively conversations about these cute collectibles and NFTs in general.
This event showcases the speculative and volatile nature of NFT investments, and how prices can quickly rise and fall in response to influencing factors like celebrity endorsements.
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