You know how some NFT projects seem to have everything figured out, then suddenly don't? Remilia Corporation and Charlotte Fang are basically the poster child for that story. They built Milady Maker into one of the hottest NFT collections, then launched $CULT thinking lightning could strike twice. Spoiler: it didn't work out the way they planned.

Let's rewind. Charlotte Fang started in the NFT space around 2021, initially dropping something called Yayo that flopped pretty hard. But he pivoted back to art and in August 2021, launched Milady Maker—a neo-chibi NFT collection of 10,000 pieces on Ethereum. The roadmap was literally just a Minecraft server, but somehow it worked. By April 2022, the floor hit 1.55 ETH and people were hyped.

Then came the mess. In May 2022, an X account linked to Fang posted racist and homophobic content. The community freaked out, the floor crashed, and Charlotte Fang basically admitted it was from his old account but claimed it was all performance art. Whether you buy that or not, it definitely hurt the vibe. The collection eventually recovered though, especially after Elon Musk tweeted about the Milady meme in May 2023. By that point, Milady was ranked third among the most expensive 10K NFT PFP collections.

But here's where it gets weird again. In September 2023, Charlotte Fang sued three team members. There were more controversies, more drama. The whole thing felt like watching someone keep making the same mistakes.

Then came $CULT. Earlier this year, Fang launched the Cult meme coin with massive hype. The FDV hit over $845 million at launch, 10 billion tokens total, team got 15% with an 18-month vest, and Remilia treasury grabbed 20-35%. Milady and Redacted Remilio Babies holders got airdrops. It looked like Charlotte Fang was about to do it again.

Except he didn't. Fast forward to now and $CULT is basically dead on arrival. The token is trading at $0.00, the fully diluted market cap is down to $4.14 million, and the flow market cap sits at $3.21 million. That's a catastrophic collapse from the $845 million launch. The entire narrative just evaporated.

What's interesting is how this reflects the broader NFT market. Charlotte Fang had genuine creative talent and community building skills with Milady Maker, but then kept running into controversy and eventually burned through credibility. By the time $CULT launched, maybe people were already tired of the drama. Or maybe the market just doesn't care about new meme coins from controversial figures anymore.

The Milady Maker collection itself is still around, still trading, still relevant. But Charlotte Fang's latest venture? It's a cautionary tale about how fast hype can turn to nothing, especially in crypto. You can have a hit project, survive scandals, even get a celebrity co-sign from Elon Musk, but one bad bet can wipe out all that goodwill. The market moves fast and memory is short.