Over the past few days, popular NFT avatar collection ‘Milady Maker‘ has lost a majority of its value after its founder, Charlotte Fang, admitted she was the personality behind a Twitter account endorsing nazi content and extreme hate speech.
Although Fang announced that she would be stepping back from the NFT project, the anime-inspired collection has fumbled 75% of its price since Friday, and trades at around 0.344 ETH or $675 on the OpenSea marketplace at the time of writing.
Last year the first NFTs for the Milady Maker collection were revealed as the creation of the online collective ‘Remilia.
Each of NFT was an avatar wearing 2000’s Tokyo street fashion, and came in different rarities. The highest tier, called “SS” raised discussion about similarities to the guard of Hitler and the nazi’s Third Reich. Some of the lower rarity avatars even wore T-shirts that included the word “Treblinka”, the name of the concentration camp built by Hitler’s nazis in occupied Poland during WWII.
Despite that, the aesthetic collection attracted high-profile investor attention. One of the avatars was sold for $45,000 and the collection as a whole reached an all-time high average price of $6.3K in April.
Ties With a Suicide Cult
Eventually, it appeared that the leader and self-proclaimed CEO of Remilia was Charlotte “Charlie” Fang, who had been active on social media for some time and attracted attention of DeFiLlamma’s analyst 0xngmi due to ominous far-right and cult-related posts.
The personal investigation led 0xngmi to the discovery that Charlie had been hiding behind the Twitter account “Miya”, which used to share extremely racist content. The account was used to openly encourage the killing of Jews, and the removal of voting rights from black people. It also alleged that homosexuality must be treated as a disease, while women must be “tamed”.
Even darker things started to roll out when multiple sources reported on Miya’s connections with ‘SystemSpace’, an obscure suicide cult that asserts that reality is an artificial simulation, and urges people to commit suicide to get the afterlife – which they described as a cyberpunk paradise.
Born back in 2017 as an online 4chan community, the movement has been railed as an attempt to “troll people into suicide”. The reality showed that the cult was no joke, as a 17-year-old Canadian follower killed himself in 2017.
Multiple sources stated that miya was involved with a suicide cult called systemspace that spread through 4chan and promised that people who registered on a website and died would be transferred to a paradise world.— 0xngmi is grazing (@0xngmi) May 23, 2022
A 17-year old teen killed himself over this in canada. pic.twitter.com/2rFi10gN8I
Furthermore, it is not only Miya, but also other members of the Remilia collective that have racist views and ties with SystemSpace, says 0xngmi.
According to him, Remilia members followed multiple anorexic teen girls on Twitter to groom them further into eating disorders and self-harm.
Both Charlotte Fang and the Remilia team denied the connections and tried to hide the ties linking them with each other via a network of anonymous accounts. However, Charlie eventually surrendered and admitted the truth on Saturday, May 21st.
“OK, full disclosure: I was Miya”, wrote Charlotte Fang, admitting that her “toxic baggage” was hurting Milady Maker’s NFT community and that she would be stepping down from the team.
OK, full disclosure: I was Miya. And its toxic baggage that’s hurting Milady community & poisoning the vibe. I apologize about trying to hide the past account—Miya has nothing to do with Milady Maker & should stay that way so I’ll be stepping down from the team from here.— ♡ Charlotte Fang 刹利 🍎 (@CharlotteFang77) May 21, 2022
She further stated that the Milady Maker NFT collection remains under the leadership of YOJIMBO KING and creative director Milady Sonoro, who designed all 10,000 of the controversial NFT avatars and is the owner of the Milady Maker account on OpenSea.
At the time of writting, 3,000 owners hold Milady Maker NFTs. Dozens of sales offers appear every hour, but only a few individual transactions have been completed. The average floor price of the collection is 0.27 ETH ($530) at the time of writing, and the total volume traded today is $8.1K.