I just reviewed Charlotte Fang's history and honestly, it's a pretty crazy story in the NFT space. This person has been at the center of some of the biggest movements in the non-fungible token market in recent years.

It all started when Charlotte Fang, an accelerationist theorist and avant-garde artist, decided to dive headfirst into the crypto world. She first tried a meme NFT project called Yayo in early 2021, but it didn't last. Then Fang returned to her artistic roots and in August 2021 launched Milady Maker with her team at Remilia Corporation — a neo-chibi collection of 10,000 NFTs on Ethereum that basically exploded. The roadmap was simple: a Minecraft server. And it worked. The base price reached 1.55 ETH in April 2022.

But here’s where it gets shady. In May 2022, an X account associated with Fang posted problematic content — racist and homophobic comments. This caused a significant drop in Milady. Charlotte Fang later apologized, saying that account was just for performances and didn’t reflect Milady Maker as a project. It was a toxic moment for the community.

What’s interesting is that Milady recovered. In May 2023, Elon Musk tweeted about the meme and everything blew up again. The collection became the third most expensive PFP collection. Even after more internal controversies in 2023 (lawsuits among team members), Milady Maker remains one of the most traded collections with a minimum price of 4.90 ETH.

Now, at the beginning of this month, Fang and her team launched $CULT, their most ambitious meme token project. Initially, the FDV was $845 million, with 10 billion tokens. The team allocated more than half to the Cult fund, 15% to the team with 18-month vesting, and 20-35% to Remilia’s treasury. Milady NFT holders and Redacted Remilio Babies received exclusive airdrops.

Looking at the current numbers, $CULT is at $0.00 with an FDV of $4.10M and a market cap of $3.17M. A pretty sharp drop since launch. Charlotte Fang definitely knows how to generate hype in the NFT space, although her projects have had a turbulent journey. What’s interesting is that the Milady community remains quite loyal despite everything that has happened.