I just came across an interesting story that shows how quickly things can change in the NFT world. Charlotte Fang and her team at Remilia Corporation have truly created something special with Milady Maker – one of the most successful NFT collections out there.

Who is Charlotte Fang actually? The person behind this entire project is Krishna Okhandiar, a acceleration theorist and avant-garde artist, known by the name Charlotte Fang. She leads the art industry conglomerate Remilia Corporation. Fang's path was anything but straightforward – in 2021, she launched a meme coin-like NFT series called Yayo, which quickly disappeared again.

Then came the big breakthrough. In August 2021, Charlotte Fang and her team launched Milady Maker – a neo-chibi collection with 10,000 unique cartoon artworks on the Ethereum blockchain. The concept was simple: a Minecraft server as a community hub. It worked perfectly. The collection sold out quickly, and by April 2022, the floor price rose to 1.55 ETH.

But then the scandal hit. In May 2022, racist and homophobic posts appeared on an X account linked to Charlotte Fang. This was a massive blow to the community and the price. Fang later apologized and explained that she had used the account only for performance art – but the damage was done.

The recovery came unexpectedly. In May 2023, Elon Musk tweeted about the Milady meme, and suddenly things started to rise again. The floor price shot up, and Milady Maker became the third most expensive 10,000 NFT collection. Despite some internal legal disputes in September 2023, which were later resolved, Milady remains one of the most traded collections today, with a floor price of about 4.90 ETH.

Now Charlotte Fang has launched the next big project. Earlier this month, Fang launched the meme coin $CULT with an initial FDV of over $845 million. The team issued 10 billion tokens, with more than half flowing into a "Cult Fund." Milady Maker holders received 15 percent with an 18-month lockup, and Remilia allocated 20 to 35 percent to the project treasury. Additionally, owners of Milady Maker and Redacted Remilio Babies NFTs received an exclusive airdrop.

Currently, $CULT is trading at practically $0.00, with a market cap of around $3.2 million and an FDV of $4.14 million. This is a massive decline from the launch hype – a classic pattern with meme coins. Charlotte Fang has proven that she can build real projects in the NFT space, but also that volatility in this sector is brutal. It will be interesting to see how things develop.